India’s Aviation Minister announces eased leasing rules to tackle aircraft shortages

On Monday, Jyotiraditya Scindia, India’s civil aviation minister, announced that the country has implemented measures to enable airlines to lease additional aircraft, in order to address the capacity shortfall caused by the resurgence of travel post-pandemic.

The aviation industry is bouncing back swiftly from the restrictions imposed due to the coronavirus pandemic, which caused airlines to ground their jets worldwide in 2020. Manufacturers are under pressure due to the surge in demand for aircraft, which has resulted in a shortage of planes and engines, leading to the grounding of some planes.

At the CAPA India Aviation Summit, Minister of Civil Aviation Shri Jyotiraditya Scindia expressed surprise at the current situation, stating that there are not enough airplanes to accommodate the growing number of passengers.

Last month, Air India unveiled a groundbreaking purchase of 470 jets and is poised to receive an additional 25 leased aircraft as part of its transformation under the new ownership of Tata Group.

According to Scindia, India has revised its airplane leasing initiative to allow airlines to expand their fleets to meet growing passenger needs, with a particular focus on “wet leasing” or the rental of aircraft with crews for both domestic and international flights.

The Indian government proposed an ambitious plan for investment and tax reform in infrastructure and maintenance facilities. The plan also includes a call for increased manufacturing of aerospace products within the country.

Overall, the Indian aviation industry expects that the eased leasing rules will provide a much-needed boost and help it recover from the impact of the pandemic. The industry and the passengers will benefit as the government takes steps to support the sector, raising hopes that air travel in India will soon return to pre-pandemic levels.

Also Read: Latest Indian Aviation News and Aviation News

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