<ul><li>The Aircraft Objects Bill has been passed in the Rajya Sabha, aiming to bring down leasing costs and airfares in India.</li><li>The bill will improve India's compliance score and make Indian airlines eligible for Cape Town Convention (CTC) discounts.</li><li>The legislation aims to ease the repossession process for lessors in case of payment defaults, boosting their confidence in doing business in India.</li><li>It is expected that the reduction in leasing and financing costs will ultimately lead to lower airfares for passengers.</li></ul>

BL Explainer: Aircraft Objects Bill to bring down cost, airfares

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