New Delhi: India will make it easier for leasing and finance firms to reclaim planes used by Kingfisher Airlines, two government sources told Reuters, after complaints that India was complicating the process.
Cash-poor and debt-hit Kingfisher, once India's second-largest carrier by market share, has not flown for five months and finance and leasing companies have warned that India could be starved of the funding it needs to fuel aviation industry growth if repossessing its planes is not made easier.
German plane financier DVB Bank SE has sued the aviation regulator and Kingfisher to have two Kingfisher planes it financed deregistered, allowing them to be flown elsewhere.
05/03/13 Anurag Kotoky/Reuters
