NEW DELHI: Covid-struck Indian carriers can see some light on the horizon. The FM said that aircraft leasing companies setting up base in Ahmedabad\u2019s GIFT City will get a tax holiday on capital gains and tax exemption for aircraft lease rentals paid to foreign lessors.
\nAt present, all Indian airlines have leased aircraft from foreign countries like Ireland and Singapore with payments in forex. The proposed tax holiday can help reduce forex outflow. Indian airlines have over 800 planes currently on order that are to be delivered in the next four to five years.
\nRemi Maillard, president and MD of Airbus India and South Asia, said this will \u201cprovide some relief to Indian carriers, which are bleeding cash because of the Covid-19 pandemic. It will help grow the fleet size in India as a vast majority of these aircraft will likely be leased\u201d.
\nThe FM also said more airports \u201cwill be monetised for operations and management concession\u201d, including those in smaller cities \u2014 meaning they will be run PPP way. A senior AAI official said the next lot of airports to be given for PPP operations are Varanasi, Bhubaneswar, Raipur, Indore, Amritsar and Trichy. <\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Covid-struck Indian carriers can see some light on the horizon. The FM said that aircraft leasing companies setting up base in Ahmedabad\u2019s GIFT City will get a tax holiday on capital gains and tax exemption for aircraft lease rentals paid to foreign lessors. At present, all Indian airlines have leased aircraft from foreign countries like Ireland and Singapore with payments in forex. The proposed tax holiday can help reduce forex outflow. Indian airlines have over 800 planes currently on order that are to be delivered in the next four to five years. Remi Maillard, president and MD of […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220,130,137],"tags":[],"class_list":["post-398605","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/398605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=398605"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/398605\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=398605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=398605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=398605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}