NEW DELHI: The Adani Group has entered the space of aircraft leasing by opening a company in Ahmedabad’s Gift City, close on the heels of the biggest Indian carriers — Air India and IndiGo — doing so. The infra major, which operates seven airports including Mumbai and is building the Navi Mumbai Airport, has this week created Udanvat Leasing IFSC Ltd with an authorised and paid-up share capital of Rs 2.5 crore.
In a regulatory filing this Monday (October 23), Adani Ports said: “Adani Ports and Special Economic Zone Limited (APSEZL) has incorporated a wholly owned subsidiary company ‘Udanvat Leasing IFSC Ltd” on October 23, 2023…. Udanvat is incorporated with object to carry out business activity of owning and leasing of Aircraft… Udanvat is incorporated in GIFT city, Gandhinagar…”
