newstodate.aero
Jun 14, 2024 (newstodate): Lithuania has now become the 58th country to ratify the Cape Town Convention.
Initiated in 2001, the Cape Town Convention is a treaty designed to facilitate asset-based financing and leasing of aviation equipment, expand financing opportunities, and reduce costs, bringing providing substantial economic benefits to its signatories.
-After ratifying this agreement, the aviation business operating in Lithuania will be able to acquire aviation objects more easily and under better conditions, and its competitiveness in the global market will increase, says the country's Ministry of Transport and Communications in a release.
Initiated in 2001, the Cape Town Convention is a treaty designed to facilitate asset-based financing and leasing of aviation equipment, expand financing opportunities, and reduce costs, bringing providing substantial economic benefits to its signatories.
-After ratifying this agreement, the aviation business operating in Lithuania will be able to acquire aviation objects more easily and under better conditions, and its competitiveness in the global market will increase, says the country's Ministry of Transport and Communications in a release.