Air India, India’s flagship carrier, has achieved a significant milestone in its modernization journey by successfully acquiring its first Airbus A350-900 aircraft. This achievement comes through a finance lease transaction with HSBC, marking the commencement of Air India’s aircraft leasing business from Gujarat International Finance Tec-City (GIFT City). This transaction is not only a momentous step for Air India but also a historical one for the Indian aviation industry.
In this historic deal, Air India becomes the first scheduled carrier globally to acquire an aircraft from an entity registered in GIFT City, India’s first International Financial Services Centre (IFSC). Furthermore, this marks the first-ever leasing of a widebody aircraft through an IFSC in India. The transaction was facilitated by AI Fleet Services Limited (AIFS), a wholly-owned subsidiary of Air India and a finance company registered in GIFT IFSC.