Government to introduce rupee-based transaction mechanism for aircraft leasing by January
Updated : November 21, 2018 01:13 PM IST
The policy intervention comes at a time when the aviation sector in India is grappling with severe financial troubles.
Sinha further stated that airlines currently have a huge exposure towards dollar because lease rentals, which are largely paid in dollar, formulate a substantial part of an airline's expenditure.
The motive is to reduce the dollar burden and help the airlines not get vulnerable due to a weak rupee or a strong dollar, he mentioned.