In a bid to streamline the global aviation industry, the International Civil Aviation Organization (ICAO) and the Aviation Working Group (AWG) are joining forces to improve aircraft leasing processes. The collaboration focuses on increasing the efficiency and safety of cross-border aircraft leasing, particularly for emerging markets. This initiative is centered around compliance with the Cape Town Convention, a legal framework that facilitates the transfer and repossession of aircraft between countries.
This agreement will not only bolster leasing but also support the global aviation market as it experiences renewed growth. As more airlines seek to lease aircraft to meet rising passenger demand, enhanced safety and efficiency standards are expected to strengthen operational stability
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