Aviation lease agreements exempted from moratorium to rationalise future lease rates: Sr official

If you are an aviation enthusiast, you might be interested in the latest news from the Ministry of Civil Aviation. According to a senior official, the ministry has decided to exempt aviation lease agreements from the moratorium imposed by the government to deal with the economic fallout of the pandemic. This means that airlines can continue to negotiate and sign new lease agreements for aircraft without any restrictions or penalties. The official said that this move will help rationalise the future lease rates and ensure a fair and competitive market for both lessors and lessees. He also said that this will benefit the passengers as they will have more options and better services from the airlines.

This is a welcome development for the aviation sector, which has been severely hit by the travel restrictions and lockdowns due to the Covid-19 crisis. Many airlines have been struggling to survive and have resorted to layoffs, salary cuts, and fleet reductions. The moratorium, which was announced in March 2020, was meant to provide some relief to the airlines by allowing them to defer payments on loans, leases, and taxes. However, it also created some uncertainty and confusion among the stakeholders, especially the lessors, who were worried about their rights and obligations under the existing lease agreements.

The exemption of aviation lease agreements from the moratorium will clear the air and pave the way for more transparency and efficiency in the leasing market. It will also encourage more investment and innovation in the aviation sector, which is vital for the recovery and growth of the economy. The senior official said that the ministry is committed to supporting and facilitating the aviation industry in these challenging times and will continue to take measures to ensure its sustainability and resilience.

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