Airbus purchase landmark event for Indian aviation sector

“One of the biggest challenges this segment faces is access to leased equipment at reasonable costs," said Vishok Mansingh, Chief Executive of Vman Aviation Services. "However, with recently announced government initiatives, Vman can provide economical leasing solutions to the general, business and helicopter segment in India.”

Two global aircraft financing and leasing companies, and two domestic aviation-related firms will be setting up aircraft leasing arms in Gift City. These include Ireland-based Acumen Aviation, London-based Investec Aviation Finance and domestic private jet aggregator JetSetGo.

Creating a viable leasing ecosystem in India

Civil Aviation Secretary Pradeep Singh Kharola commented: "The aircraft purchase signing is a landmark event in the Indian aviation history. This agreement is the result of the efforts put in for the last four to five years to create a viable leasing and financing ecosystem in the country.”

Recently, Indian-based Hindustan Aeronautics Limited and Safran Aircraft Engines of France signed a memorandum of understanding at Aero India 2021 to explore opportunities for aero engine manufacturing opportunities in India.