Thursday, March 14, 2013

Kingfisher Airlines case: Return planes held 'hostage', says ILFC

The head of aircraft finance giant International Lease Finance Corp (ILFC) urged India on Wednesday to release six passenger jets held "hostage" by a bureaucratic dispute after struggling Vijay Mallya-led Kingfisher Airlines failed to pay for them.
ILFC had warned in January that a failure to return leased airplanes to their true owners when airlines cannot pay their bills could put the country's aviation growth at risk by scaring off funding.
According to Los Angeles-based ILFC, the Delhi High Court ruled last month that ILFC could have access to its aircraft to ensure they can be refurbished and maintained.
But ILFC Chief Executive Henri Courpron said that the situation on the ground remained unresolved.
"We have made legal and political progress but people are not following instructions from the government," Courpron said in a telephone interview.
14/03/13 Reuters/Indian Express