Relaxed norms for aircraft import

  • For import of an aircraft following steps were necessary till now
  1. For remittance of funds for import of aircraft, the approval of the ministry was mandatory.
  2. Scheduled Operators (airlines) and Regional Scheduled Operators have to seek approval from the ministry for import of aircraft.
  • The Ministry had recently asked Director General of Foreign Trade (DGFT) and the RBI to amend their existing notification and master circular respectively to relax the norms for aircraft import.
  • In early October the DGFT had carried out the requisite amendments in its rules governing aircraft imports.
  • Further the RBI in November issued a circular allowing banks to advance remittances of up to $50 million for import of aircraft, helicopters and other aviation related purchases by airlines once airline companies receive approval from the DGCA.
  • The Ministry of Civil Aviation has now delegated the power to grant initial No Objection Certificate (NOC) or in-principle approval for import or acquisition of aircraft to the Directorate General of Civil Aviation (DGCA).
  • After the changes are effected by DGCA the Scheduled Operators/Regional Scheduled Operators need not approach the Ministry of Civil Aviation for initial NOC/In-principle approval for import/acquisition of aircraft
  • Several airlines had voiced their concern over the delay in approvals which had affected their aircraft induction, fleet expansion and replacement plans.
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