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.

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IREDA establishes subsidiary within IFSC in GIFT City, Gujarat

IREDA, a state-owned entity, has established a subsidiary within the International Financial Services Centre (IFSC) situated in GIFT City, Gujarat. Officially named IREDA Global Green Energy Finance IFSC Limited, the subsidiary was incorporated on May 7, following the receipt of a no objection letter from the Reserve Bank of India (RBI) in February 2024, permitting the establishment of the finance company within IFSC GIFT City, as stated by IREDA.

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More Foreign Flights for Goa

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Thomas Cook India Highlights High Airfares

In a recent statement, Thomas Cook India's Chairman, Madhavan Menon, sheds light on the persistent challenge of high airfares gripping the aviation industry. As travel demand gradually rebounds post-pandemic, the issue of exorbitant airfares has emerged as a significant concern for both travellers and industry stakeholders. Menon's remarks underline the need for urgent attention and collaborative efforts to address this pressing issue.

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