Hindustan Aeronautics Limited (HAL) and SkyPulse Solutions IFSC Private Limited have signed a Memorandum of Understanding (MoU) to establish a framework for the acquisition, financing, leasing, deployment and lifecycle support of HAL-manufactured helicopters under a proposed 30-helicopter programme estimated at ₹2,491 crore.
The programme is planned in phases, with SkyPulse proposing to acquire 10 helicopters during 2027–2029 and a further 20 helicopters from 2030 onwards. Initial induction is currently planned for FY 2027–28, subject to technical and commercial evaluations, financing arrangements, regulatory approvals, production availability, customer demand and the execution of definitive agreements.
Leasing and Financing Framework
The collaboration will explore a range of aviation financing and leasing structures through GIFT City IFSC, including finance and operating leases, direct purchases, sale-and-leaseback arrangements and other structured financing solutions. The proposed model is intended to improve access to Indian-manufactured helicopters for operators across civil, governmental and mission-critical applications.
Potential applications identified by the companies include emergency medical services, disaster response, search and rescue, regional connectivity, tourism and pilgrimage, government aviation, infrastructure support and charter operations. The final mix of helicopter models, including single- and twin-engine platforms, will be determined based on operational requirements, technical suitability and commercial considerations.
Focus on Lifecycle Support
Beyond aircraft acquisition and financing, the MoU places emphasis on developing an integrated lifecycle-support ecosystem covering spare parts, maintenance, engineering support and training. HAL and SkyPulse will explore mechanisms to provide operators with technical and MRO support throughout the operating life of the helicopters.
The collaboration could also create opportunities for skills development and employment across helicopter operations, engineering, maintenance and MRO. A Joint Working Group may be established to assess the technical, commercial, financing and implementation requirements of the proposed programme.
Gagan Jacobs, Director, SkyPulse Solutions IFSC Private Limited, said the MoU aims to combine HAL’s indigenous helicopter capabilities with SkyPulse’s leasing and financing platform to develop a scalable model for aircraft acquisition, deployment and lifecycle support.
Raju Ranjan Thakur, General Manager (Marketing), HAL, said the cooperation provides a framework to explore new leasing, financing and mission-support solutions for HAL’s helicopter platforms, while also creating opportunities to strengthen lifecycle support, training and MRO capabilities.
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According to the companies, the proposed deployment of 30 helicopters could support 450 direct high-skilled aviation positions, equivalent to 1,350 direct job-years across the rollout period. The programme is also projected by the companies to support 2,745 economy-wide jobs and 8,235 total job-years. These figures are projections based on employment multipliers cited by the companies and are subject to the eventual scale and deployment of the programme.
The MoU establishes a framework for cooperation rather than a binding commitment to complete the proposed 30-helicopter acquisition. Specific procurement, leasing, financing, maintenance and mission-support arrangements remain subject to further technical, commercial and financial evaluation, regulatory and internal approvals, financing closure and mutually agreed definitive agreements.
