Air India and Indigo launch aircraft leasing companies

05 Sep 2023 CW Team

Aircraft leasing in India is poised for growth, as major airlines like IndiGo and Tata Group's Air India gear up to establish wholly-owned leasing subsidiaries. IndiGo, with nearly 1,000 aircraft on order for delivery by 2035, announced its intention to create a subsidiary at IFSC Gift City for leasing purposes. Similarly, Air India, with 470 planes on order, has already set up a leasing unit at IFSC Gift City, making it the first Indian carrier to do so. The move aligns with the Indian government's efforts to encourage local leasing of aircraft rather than relying on traditional leasing hubs in countries like Ireland or Singapore.

In a BSE filing, IndiGo disclosed its plans to invest up to Rs 300 million in its subsidiary for aviation asset financing and issue corporate guarantees of up to $996 million to secure payment obligations. IFSC Gift City, a global financial services hub developed by the Narendra Modi government, is facilitating this shift in aircraft leasing dynamics.

Additionally, IndiGo announced its board's approval to order 10 more A320 Neo aircraft from Airbus, as part of the original 300 aircraft order placed in 2019."

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