Why in news
- The Civil Aviation Minister chaired the first meeting of the High-Level Committee on Aircraft Leasing and Financing.
Context and Institutional Framework
- Aims to develop a robust and globally competitive aircraft leasing and financing ecosystem in India.
- Builds on previous legislative steps including the Protection of Interests in Aircraft Objects Act enacted for Cape Town Convention ratification.
Key Deliberations
- Explored mechanisms for greater bank credit allocation to the aviation sector.
- Identified joint ventures for technical and skill development in aircraft leasing.
Why it matters
- Strengthens domestic lessor confidence, reflected in growing asset registrations such as aircraft and engines in GIFT City frameworks.
Key terms
Aircraft Leasing
Commercial arrangement allowing airlines to operate aircraft without purchasing them outright.
Prelims facts
- High-Level Committee on Aircraft Leasing operates under the Ministry of Civil Aviation.
Source: PIB
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UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.
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