NEW DELHI: Aircraft leasing in India is all set to take off with IndiGo – which has nearly 1,000 aircraft on order to be delivered by 2035 – on Monday announcing it will set up a wholly-owned subsidiary at IFSC Gift City to lease them. Tata Group’s Air India, which has 470 planes on order, has already set up a leasing unit there, becoming the first Indian carrier to do so. AI plans to induct the first six Airbus A350s through this leasing unit called AI Fleet Services IFSC.
In a BSE filing regarding this proposed company being set up for “financing of aviation assets,” IndiGo said: “… investment upto Rs 30 crore in one or more tranches. Issuing corporate guarantees of upto $996 million (or an equivalent amount in rupees or any other currency) to secure the payment obligations of aforesaid wholly-owned subsidiary.” The Gift City is being developed as a global financial services hub by the Narendra Modi government, which has been working to ensure that Indian carriers – that have placed record orders – should lease them via entities in India instead of traditional leasing hubs in Ireland or Singapore.
Meanwhile, IndiGo on Monday said in a filing that its board has “approved placing the order for 10 additional A320 Neo aircraft with Airbus and executing the amendment agreement to the purchase agreement… these 10 aircraft are to be part of the original 300 aircraft order of 2019.”
In a BSE filing regarding this proposed company being set up for “financing of aviation assets,” IndiGo said: “… investment upto Rs 30 crore in one or more tranches. Issuing corporate guarantees of upto $996 million (or an equivalent amount in rupees or any other currency) to secure the payment obligations of aforesaid wholly-owned subsidiary.” The Gift City is being developed as a global financial services hub by the Narendra Modi government, which has been working to ensure that Indian carriers – that have placed record orders – should lease them via entities in India instead of traditional leasing hubs in Ireland or Singapore.
Meanwhile, IndiGo on Monday said in a filing that its board has “approved placing the order for 10 additional A320 Neo aircraft with Airbus and executing the amendment agreement to the purchase agreement… these 10 aircraft are to be part of the original 300 aircraft order of 2019.”
timesofindia.indiatimes.com
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