{"id":623351,"date":"2023-12-20T10:37:15","date_gmt":"2023-12-20T05:07:15","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=623351"},"modified":"2023-12-20T12:40:44","modified_gmt":"2023-12-20T07:10:44","slug":"government-mulls-two-month-asset-freeze-for-bankrupt-airlines","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/government-mulls-two-month-asset-freeze-for-bankrupt-airlines\/","title":{"rendered":"Government mulls two-month asset freeze for bankrupt airlines"},"content":{"rendered":"<p>The government could stipulate a two-month moratorium rule for the aviation sector to ensure the aircraft of a bankrupt airline isn&#8217;t taken away by lessors immediately after default paralysing its operations, said a person aware of the details.<\/p>\n<p>The Ministry of Corporate Affairs (MCA) had in October exempted aircraft, helicopters and engines from moratorium under the insolvency law citing India&#8217;s decision to adopt the Cape Town global convention that allows airlines to keep leased aircraft for at best two months in case of rental defaults.<\/p>\n<p>However, as the civil aviation ministry&#8217;s planned Cape Town Convention Bill is yet to be introduced in Parliament,<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government could stipulate a two-month moratorium rule for the aviation sector to ensure the aircraft of a bankrupt airline isn&#8217;t taken away by lessors immediately after default paralysing its operations, said a person aware of the details. The Ministry of Corporate Affairs (MCA) had in October exempted aircraft, helicopters and engines from moratorium under the insolvency law citing India&#8217;s decision to adopt the Cape Town global convention that allows airlines to keep leased aircraft for at best two months in case of rental defaults. However, as the civil aviation ministry&#8217;s planned Cape Town Convention Bill is yet to be [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[192,130,136],"tags":[],"class_list":["post-623351","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/623351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=623351"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/623351\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=623351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=623351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=623351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}