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India finance at risk if airlines flout rules - ILFC

Source : REUTERS
Last Updated: Tue, Jan 22, 2013 12:25 hrs
A passenger aircraft is silhouetted against the rising moon in New Delhi

India could put at risk the financing needed to support its aviation growth if airlines that cannot pay their bills fail to return aircraft to their owners, the head of U.S. leasing giant International Lease Finance Corp warned on Tuesday.

ILFC has a team of people in India trying to recover four aircraft from troubled Kingfisher Airlines but has faced bureaucracy and delays, ILFC Chief Executive Henri Courpron told Reuters.

In an interview, Courpron also delivered a warning to planemakers Airbus and Boeing that they should not remain too focused on outselling each other at the risk of driving up backlogs to unsustainable levels.

He also said the sale of a majority of ILFC by its insurance parent AIG to a Chinese consortium was expected to be completed on time in the second quarter.

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