PARIS: Filing for voluntary insolvency prevents aircraft lessors from reclaiming their planes for six months, leading to mounting dues and grounded jets. "There is no question that some of the counterparts that we deal with on the financing side, banks, lenders, etc. are very much pausing on providing capital to Indian airlines or lessors financing Indian exposure. They are stopping temporarily," said Andy. Cronin, the chief executive officer of Avolon, in an interview.
While Cronin did not outline the extent of the increase in rentals for Indian carriers, some estimates suggest that it could rise by as much as 25%.
Avolon has approximately 50 aircraft on lease with multiple Indian airlines such as IndiGo, Air India, Vistara, and Akasa Air.
Bu hikaye Hindustan Times dergisinin June 22, 2023 sayısından alınmıştır.
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Bu hikaye Hindustan Times dergisinin June 22, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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