International Lease Finance Corporation (ILFC) announced the successful removal of its A321 aircraft from India following Delhi’s High Court decision on March 15, 2013.

This first aircraft's departure demonstrates the High Court's pragmatic approach in an environment that is perceived as hostile by many foreign investors. This decision marks a first step in the right direction, and adheres to the principles denoted in the Cape Town treaty (ratified by India in 2008) and international best aviation practices. Based on media reports, this decision is in line with the policy change expected to be made by the Indian government in short order.

“This decision is a much anticipated development in ILFC’s efforts to recover our aircraft and engines,” said ILFC Chief Executive Officer Henri Courpron. “We commend India’s High Court for taking a firm stance which we hope will prompt the publication of the much awaited policy revision. It is not too late for India to reverse the current negative perception prevailing within the international finance forum. A comprehensive change in the current policy permitting ILFC’s assets to be removed from India without any restrictions will be considered a positive and much needed step towards reform. This policy is expected to bring much relief to India’s aviation sector by safeguarding Indian airlines’ continued ability to obtain needed affordable aircraft financing."

International Lease Finance Corporation (ILFC) is a global market leader in the leasing and remarketing of commercial aircraft.