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.”
