Crime Today News
Rajya Sabha MPs Friday said that while the Protection of Interests in Aircraft Objects Bill makes it easier for foreign companies to repossess aircraft from Indian aviation companies, its impact on aviation firms, passengers and employees need to be taken into account.
“The Bill prioritises international creditors and leasing companies over domestic airlines making it easier for the foreign entities to repossess aircraft without adequate consideration of the impact on Indian airlines, passengers and employees,” said YSRCP MP Alla Ayodhya Rami Reddy supporting the Bill.
“This could destabilise the domestic aviation sector,” he added.
Supporting the Bill, AAP MP Sandeep Kumar Pathak said the aviation industry is a capital intensive sector where there is a need to take care of investors as well as companies.
© The Indian Express Pvt Ltd
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