The government is considering a two-month moratorium rule for the aviation sector to prevent lessors from immediately taking away aircraft of a bankrupt airline after default, thereby paralyzing its operations. The Ministry of Corporate Affairs (MCA) had exempted aircraft, helicopters, and engines from moratorium under the insolvency law in October.
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The civil aviation ministry has asked the corporate affairs ministry for exemption from the asset moratorium rule for leased aircraft during the insolvency resolution of an airline, persons aware of the details said.