Reduce lending cost for aircraft leasing: Industry body

New Delhi, Nov 19 (IANS) The PHD Chamber of Commerce and Industry on Saturday called for a reduction in lending cost for leasing-out aircraft.

Besides, the industry chamber suggested that lending cost for aircraft leasing be brought at par with rates that prevail in Japan and China.

The recommendation was made at the two-day Aero Expo India-2016 that was organised by the PHD Chamber of Commerce and Industry and the Ministry of Civil Aviation.

"It was recommended that lending costs for leasing out aircraft should be minimised and brought on par with norms that prevail in countries like Japan and China," the industry body said in a statement.

"The expo concluded that leasing norms for commercial aircraft in India have improved but need to be evolved for business aviation."

The industry body added that the country needs more institutions to fulfil manpower requirements of domestic civil aviation industry.