Air India has completed the acquisition of its first A350 aircraft through Gujarat International Finance Tec-City (GIFT City) India’s first and only International Financial Services Centre (IFSC).
On Sept 29,) Air India announced that it had completed the acquisition of its first A350900 aircraft, the first-ever wide-body aircraft to be leased through the GIFT City.
The aircraft has been leased on a finance lease basis which means that Air India will have an option to purchase the aircraft at the end of the lease period.
“This landmark transaction marks the beginning of our aircraft leasing business from GIFT IFSC, as AIFS will be the primary Air India Group entity for widebody aircraft financing, playing a pivotal role in the future aircraft financing strategy for us and our subsidiaries," said Nipun Aggarwal, chief commercial and transformation officer, Air India. The transaction for Air India was facilitated by AI Fleet Services Limited (AIFS), a wholly-owned subsidiary of Air India, and a GIFT IFSC-registered finance company.
Air India Chief Financial Officer Vinod Hejmadi and company secretary Kalpana Rao are slated to take senior management and board roles at the leasing entity, which will have an authorised capital of INR500 million (USD6 million) and paid-up capital of INR300 million (USD3.62 million). Beyond the six A350s, AI Fleet Services IFSC Limited will supply aircraft to Air India and its subsidiary airlines via operating and finance leases.
Denne historien er fra October 2023-utgaven av Cruising Heights.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 2023-utgaven av Cruising Heights.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
VIDARBHA INDIA'S NEXT AVIATION HUB?
With the modernisation process for Nagpur Airport moving ahead in full steam, Vidarbha, a long-overlooked region in Maharashtra, is gaining momentum as a potential aviation hub with significant infrastructure projects like Air India's aviation academy in Amravati and the ISHAN air traffic management scheme. But what will really give a film to the region is the development of Nagpur airport by the GMR Group, the creation of a second runway and a spanking new terminal.
BUSINESS AVIATION INDIA'S MISSED OPPORTUNITY?
India's Missed Opportunity?
INDIGO'S WET LEASE GAMBLEAN OPPORTUNITY OR A COST RISK?
IndiGo’s reliance on wet-leased aircraft, including six MAX 8 jets, highlights its efforts to tackle grounded planes and expand capacity. While offering flexibility, this approach poses cost and operational challenges, writes AMEYA JOSHI.
LAST-MILE DELIVERY, AI GOES THE DISTANCE
Artificial Intelligence is revolutionising air cargo and last-mile delivery by optimising logistics, reducing costs, and enhancing efficiency. Despite challenges, Al-driven solutions promise transformative growth for the cargo industry, writes R CHANDRAKANTH
TAMIL NADU'S REGIONAL AVIATION SURGE
Tamil Nadu is set for an aviation boom, with upgrades to key regional airports and plans for new facilities like the Hosur and Parandur airports. These developments aim to enhance connectivity, boost economic growth, and attract trade and tourism across the state, writes RASHEED KAPPAN
POTENTIAL OF ARTIFICIAL INTELLIGENCE IN AIR TRAFFIC MANAGEMENT
Artificial Intelligence promises to transform Air Traffic Management (ATM), improving efficiency, safety, and decision-making. Despite its potential, challenges like regulatory complexities and integration barriers must be addressed, writes DR. S K SARASWATI
INSIGHTFUL MRO
Predictive maintenance is a clear digital priority for MROs. This transformative approach enhances efficiency, reduces costs, and minimises downtime, addressing evolving challenges in fleet management, writes ATUL CHANDRA
INDIAN AVIATION'S 2025 TAKEOFF
India's aviation sector soared to record-breaking domestic passenger traffic in 2024, highlighting robust growth despite challenges like supply chain disruptions and infrastructure constraints. As 2025 unfolds, transformative fleet expansions, new airports, and regional connectivity initiatives promise unprecedented growth, but questions about profitability and execution remain, analyses AMEYA JOSHI
HIGH ON HYDROGEN
Hydrogen fuel presents a transformative opportunity for sus-tainable aviation, offering zero-emission potential. With industry giants like Airbus and Embraer leading advancements, its deployment remains a decade away, observes ATUL CHANDRA
UNTAPPED POTENTIAL OF BUSINESS JETS IN AN ENCOURAGING MARKET
India's business jet market is witnessing growth, fueled by rising UHNWIS and increasing private jet demand. Yet, challenges like high operational costs, inadequate infrastructure, and unclear fractional ownership policies hinder its full potential, explains R. CHANDRAKANTH
