NEW DELHI: Air India has become the first scheduled desi airline to have acquired an aircraft — that too a widebody Airbus A350 — from an entity registered in Gujarat International Finance Tec-City (Gift City). This A350-900 is also the first widebody aircraft to have been leased through India’s first International Financial Services Centre (IFSC) via a finance lease transaction with HSBC.
The transaction was facilitated by AI Fleet Services Limited (AIFS), a 100% subsidiary of Air India, and a Gift IFSC-registered finance company. It also marks AI’s first financing transaction from its mega $70 billion order for 470 aircraft. Traditionally Indian carriers have leased aircraft from foreign shores like Ireland. The Modi government is keen to bring the leasing business to India as desi carriers — Tata Group AI and IndiGo — are now among the biggest customers for planes globally.
