<ul><li>The Aircraft Objects Bill was passed in the Rajya Sabha and will now be sent to the Lok Sabha.</li><li>The bill aims to reduce leasing costs by approximately 8 to 10 percent, which will have an impact on airfares as well.</li><li>By ratifying the Cape Town Convention, the bill guarantees absolute rights to lessors and boosts confidence for doing business in India.</li><li>The proposed Act is expected to lower leasing and financing costs for airlines, leading to more cost-effective operations and potential benefits for the Gujarat International Finance Tech City.</li></ul>

Aircraft Objects Bill to bring down cost, airfares

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