{"id":15092,"date":"2025-04-02T23:00:38","date_gmt":"2025-04-02T23:00:38","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=15092"},"modified":"2025-04-03T01:07:08","modified_gmt":"2025-04-03T01:07:08","slug":"protection-of-interests-in-aircraft-objects-bill-2025","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/protection-of-interests-in-aircraft-objects-bill-2025\/","title":{"rendered":"Protection of Interests in Aircraft Objects Bill, 2025"},"content":{"rendered":"<ul>\n<li>\n<p><strong>Rajya Sabha Passage:<\/strong> The Protection of Interests in Aircraft Objects Bill, 2025, has been passed, aiming to implement international conventions on aviation equipment leasing.<\/p>\n<\/li>\n<li>\n<p><strong>Cape Town Convention:<\/strong> It implements the Cape Town Convention of 2001 and its Aircraft Equipment Protocol, to which India became a signatory in 2008.<\/p>\n<\/li>\n<li>\n<p><strong>Purpose:<\/strong> To secure rights over high-value mobile assets like aircraft, helicopters, and engines, ensuring legal clarity in the aviation industry. It aims to protect creditors and stakeholders in aviation leasing.<\/p>\n<\/li>\n<li>\n<p><strong>DGCA Role:<\/strong> The Directorate General of Civil Aviation (DGCA) is designated as the registry authority for aircraft registration and de-registration. Airlines must inform DGCA about dues to lessors, and lessors must inform DGCA about their activities.<\/p>\n<\/li>\n<li>\n<p><strong>Creditor Rights:<\/strong> Creditors must notify DGCA before initiating remedies in case of default. They can recover assets within two months or a mutually agreed timeframe.<\/p>\n<\/li>\n<li>\n<p><strong>Benefits:<\/strong> The bill is expected to provide clarity and security in the leasing industry, potentially reducing leasing costs by 8-10%, which may lead to lower airfares.<\/p>\n<\/li>\n<li>\n<p><strong>Need for the Bill:<\/strong> With 86.4% of planes operating in India under a leasing model, the bill aims to establish a domestic leasing industry, addressing the absence of prior legislation in this area, creating provision for intimation of dues to lessors periodically.<\/p>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Rajya Sabha Passage: The Protection of Interests in Aircraft Objects Bill, 2025, has been passed, aiming to implement international conventions on aviation equipment leasing. Cape Town Convention: It implements the Cape Town Convention of 2001 and its Aircraft Equipment Protocol, to which India became a signatory in 2008. Purpose: To secure rights over high-value mobile &#8230; <a title=\"Protection of Interests in Aircraft Objects Bill, 2025\" class=\"read-more\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/protection-of-interests-in-aircraft-objects-bill-2025\/\" aria-label=\"Read more about Protection of Interests in Aircraft Objects Bill, 2025\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":15125,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[595],"tags":[1264],"class_list":["post-15092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-02-04-25"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Protection of Interests in Aircraft Objects Bill, 2025 - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/protection-of-interests-in-aircraft-objects-bill-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Protection of Interests in Aircraft Objects Bill, 2025\" \/>\n<meta property=\"og:description\" content=\"Rajya Sabha Passage: The Protection of Interests in Aircraft Objects Bill, 2025, has been passed, aiming to implement international conventions on aviation equipment leasing. 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Cape Town Convention: It implements the Cape Town Convention of 2001 and its Aircraft Equipment Protocol, to which India became a signatory in 2008. Purpose: To secure rights over high-value mobile ... 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