Aircraft leasing business can now take wings out of GIFT City
February 19, 2021
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Regulator issues ‘Framework for Aircraft Operating Lease’, paving way for offshore entities to set up base in IFSCs
The legal decks have been cleared for aircraft leasing businesses to take wings out of Indian shores (GIFT IFSC in Gujarat) with the GIFT City regulator International Financial Services Centre Authority ( IFSCA) on Friday issuing a ‘ Framework for Aircraft Operating Leases’.
This will enable the aircraft operating lease businesses to be set up in International Financial Services Centres (IFSCs) and address the projected market size of more than $ 50 billion for aircraft leasing in the country. Currently, India has only one IFSC in GIFT City in Gujarat.