Dublin: India faces growing pressure over financial uncertainty at budget carrier SpiceJet after leasing company BOC Aviation demanded the return of three leased aircraft, in what is seen as a test of global rules on aircraft investments.
The leasing arm of Bank of China warned in an interview that India's fast-growing airline industry could struggle to attract funds unless India upholds a pact designed to protect the owners of leased jets, widely used across the world.
"SpiceJet is a very frustrating situation," Chief Executive Robert Martin told Reuters.
"Obviously when we lease planes we like people to pay us. And if they don't pay us, then generally the way an operating lessor reacts is by moving its planes to somewhere else in the world."
India's Economic Times this week reported lessors wanted permission to retrieve 11 jets.
22/01/15 Tim Hepher/Reuters
To Read the News in full at Source, Click the Headline
The leasing arm of Bank of China warned in an interview that India's fast-growing airline industry could struggle to attract funds unless India upholds a pact designed to protect the owners of leased jets, widely used across the world.
"SpiceJet is a very frustrating situation," Chief Executive Robert Martin told Reuters.
"Obviously when we lease planes we like people to pay us. And if they don't pay us, then generally the way an operating lessor reacts is by moving its planes to somewhere else in the world."
India's Economic Times this week reported lessors wanted permission to retrieve 11 jets.
22/01/15 Tim Hepher/Reuters
