India's Ministry of Corporate Affairs strengthens lessors' rights to reclaim aircraft from bankrupt airlines, a move that could aid second-tier Indian airlines secure lease deals.
The Delhi High Court has directed the resolution professional of the crisis hit airline Go Air to provide access to documents in relation to the leased aircrafts to various lessors. Justice Tara.
The lessors have been permitted to contract round-the-clock security services for all the aircraft. The resolution professional will have to supply all the documents pertaining to the aircraft s maintenance and airworthiness to the lessors.
Go First s resolution srofessional has been directed to grant the lessors access to all the documents pertaining to the maintenance of aircraft, engines and airframes in two weeks