BREAKING NEWS

INDIAN
GOVERNMENT HAS
ALSO ANNOUNCED
PLANS TO DEVELOP
100 NEW AIRPORTS BY
2024, ACCORDING TO
THE MINISTRY OF
CIVIL AVIATION

AIR AND SPACE LAW

THE INDIAN AVIATION SECTOR IN 1991, THE
AIRLINE INDUSTRY PROGRESSED AT AN
EXPEDITIOUS RATE AND A NUMBER OF LEGACY
AND LOW-COST CARRIERS WERE ESTABLISHED IN
THE MARKET. HOWEVER, THE AVIATION MARKET
FACED ITS FIRST TURBULENCE POST-
LIBERALISATION IN THE BANKRUPTCY
PROCEEDINGS OF KINGFISHER AIRLINES LIMITED
(“KAL”), AS A NUMBER OF AIRCRAFT LESSORS
FACED ENFORCEMENT ISSUES SINCE INDIA DID
NOT HAVE MEANS TO ENFORCE REMEDIES UNDER
THE THEN APPLICABLE LAWS. ADDING TO THE
ISSUES FACED BY THE JUDICIARY IN THE
INFAMOUS KAL PROCEEDINGS, THE NEED FOR
CODIFIED BANKRUPTCY LAWS WAS ALSO FELT AS A
NEED OF THE HOUR.