cape-town-convention

  • The Convention on International Interests in Mobile Equipment was concluded in Cape Town on 16 November 2001, as was the Protocol on Matters Specific to Aircraft Equipment . 
  • The Convention and the Protocol, adopted under the joint auspices of ICAO and UNIDROIT, shall be read and interpreted together as a single instrument (Article 6(1) of the Convention).
  • The main objective of the Convention/ Protocol is to ensure efficient financing of high value mobile equipment like airframes, helicopters and engines, in order to make the operations as cost effective and affordable as possible.  
  • Indian government plans to bring in the Cape Town Convention Act which will help reduce risks related to asset-based financing and leasing transactions in the civil aviation space.