+
Vistara's milestone - 2 aircraft financed in GIFT City
AVIATION & AIRPORTS

Vistara's milestone - 2 aircraft financed in GIFT City

The story reported a significant development in GIFT City's efforts to position itself as the preferred destination for Indian carriers seeking aircraft leasing and financing. According to the information provided, Tata Group's Vistara secured financing for two Airbus A320neos from GIFT City, marking a notable step in the city's endeavor. Previously, entities such as Air India had leased aircraft from GIFT City. Vistara's action represents one of the initial instances of an Indian carrier securing aircraft financing from the city.

Watson Farley & Williams (WFW) provided counsel to Standard Chartered regarding the financing of the two A320neos. An official stated that this financing was structured uniquely through Gujarat International Finance Tec-City (GIFT City), utilizing an entity not wholly owned by the airline. The official described this transaction as a landmark in commercial aircraft finance structured through GIFT City.

Richard Williams, a Partner leading the WFW Singapore Aviation team, expressed gratitude for the opportunity to advise Standard Chartered as lender counsel and collaborate with the Vistara team on this significant transaction. He emphasized WFW's dedication to supporting aviation in India and providing expertise for its expansion.

GIFT City, India's inaugural operational greenfield smart city and international financial services center, aims to localize the financing and leasing of aircraft for Indian airlines, diverting such business from foreign jurisdictions like Ireland and Singapore. Companies like Air India, IndiGo, and the Adani Group have established specialized entities within GIFT City for this purpose.

The story reported a significant development in GIFT City's efforts to position itself as the preferred destination for Indian carriers seeking aircraft leasing and financing. According to the information provided, Tata Group's Vistara secured financing for two Airbus A320neos from GIFT City, marking a notable step in the city's endeavor. Previously, entities such as Air India had leased aircraft from GIFT City. Vistara's action represents one of the initial instances of an Indian carrier securing aircraft financing from the city. Watson Farley & Williams (WFW) provided counsel to Standard Chartered regarding the financing of the two A320neos. An official stated that this financing was structured uniquely through Gujarat International Finance Tec-City (GIFT City), utilizing an entity not wholly owned by the airline. The official described this transaction as a landmark in commercial aircraft finance structured through GIFT City. Richard Williams, a Partner leading the WFW Singapore Aviation team, expressed gratitude for the opportunity to advise Standard Chartered as lender counsel and collaborate with the Vistara team on this significant transaction. He emphasized WFW's dedication to supporting aviation in India and providing expertise for its expansion. GIFT City, India's inaugural operational greenfield smart city and international financial services center, aims to localize the financing and leasing of aircraft for Indian airlines, diverting such business from foreign jurisdictions like Ireland and Singapore. Companies like Air India, IndiGo, and the Adani Group have established specialized entities within GIFT City for this purpose.

Related Stories

Gold Stories

Next Story
Real Estate

Kamdhenu Realities acquires 4-acre Navi Mumbai land parcel

Kamdhenu Realities has acquired a 4-acre land parcel from RPG Life Sciences on Thane-Belapur Road for approximately Rs 1.5 billion, expanding its commercial real estate portfolio in Navi Mumbai.The parcel has a total developable potential of 1.8 million sq ft, on which Kamdhenu plans to develop a destination-scale commercial and lifestyle ecosystem. The proposed development will combine corporate office suites with high-street retail, F&B outlets, double-height lobbies, business infrastructure and lifestyle amenities.Located close to IKEA and opposite the upcoming Pawane Railway Station, t..

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code