High-ranking representatives from prominent Indian airlines, including Air India, SpiceJet, Vistara, and IndiGo, gathered in New Delhi to meet with Union Minister of Civil Aviation, Jyotiraditya Scindia. The purpose of the meeting was to convey their appreciation for a recent legal amendment with profound implications for the aviation sector.
The meeting included Air India’s Managing Director and CEO, Campbell Wilson; Vistara’s CEO, Vinod Kannan; SpiceJet’s Chairman and Managing Director, Ajay Singh, and IndiGo’s Principal Advisor, RK Singh.
The minister’s office subsequently shared the news on social media, highlighting the recent legal amendment concerning the Insolvency and Bankruptcy Code, 2016. This amendment exempts aircraft equipment covered under CTC from the application of a moratorium. It is seen as a significant relief for aircraft lessors, reducing their risk and enabling them to repossess their aircraft, fostering a more favorable aviation environment in India.
