The civil aviation ministry may issue a guidance to release all Kingfisher Airlines aircraft parked at Indian airports to international leasing companies.
The move comes in the wake of growing disquiet among major leasing companies over India's refusal to hand over the aircraft and fears that much-needed aircraft finance would be stopped to Indian airline companies.
Civil Aviation Secretary KN Srivastava is in the process of issuing a letter to all airport operators in "3-4 days", directing airports to release aircraft that have been de-registered by the authorities and are no longer held by Kingfisher. "This would happen very soon," Arun Mishra, director-general of civil aviation (DGCA), told ET.
The ministry decided on this step after a meeting with interested parties and stakeholders, including the Airports Authority of India, or AAI, in Delhi about a week back.
The Vijay Mallya-promoted airline owes Rs 450-500-crore to major airports in India. It has parked nearly 30 out of its 66 aircraft fleet in various airports, out of which, 15 have been deregistered.
Big leasing firms have been increasingly vocal in their complaints against Indian authorities for not letting them take their assets back. The AAI wanted Kingfisher to cough up its dues and refused to release the aircraft.
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