Nipun Aggarwal, Chief Commercial & Transformation Officer, Air India said, “This landmark transaction marks the beginning of our aircraft leasing business from GIFT IFSC, as AIFS will be the primary Air India Group entity for widebody aircraft financing, playing a pivotal role in the future aircraft financing strategy for us and our subsidiaries. It is also a shot in the arm for the development of a robust aviation ecosystem in India. As a flag-bearer of the country, Air India is happy to support the Government of India’s efforts to develop an aircraft leasing hub in GIFT IFSC.”
Dr. Dipesh Shah, Executive Director, IFSCA said, “Govt. of India has taken several initiatives to develop the aircraft leasing ecosystem at IFSC in India. IFSCA has been working with the stakeholders to develop regulatory enablers for aircraft leasing and financing. The steps taken by Air India by establishing a finance company for the purpose of aircraft leasing and financing at IFSC will go long way in developing IFSC as a preferred destination for aircraft leasing and financing in India as well as globally.”