IndiGo receives IFSC Gift City approval to set up aircraft leasing shop

Source: The Hindu Business Line

Interglobe Aviation, the parent company of India’s largest airline, IndiGo, has received approval from IFSC Gift City to establish an aircraft leasing venture. Over the next five years, the company aims to invest approximately Rs. 11,500 crore in the IFSC aircraft leasing segment. The funds will come from promoter investments, according to the company’s application to the IFSC.

IndiGo plans to operate under the name ‘Interglobe Aviation Financial Services IFSC Private Limited,’ focusing on operating leasing, financial leasing, and other related services for aircraft. The company has outlined its operations to include leasing of aircraft ground support equipment and aviation training simulation devices.

Rental services

During discussions with Gift City authorities, four representatives from IndiGo mentioned that the end customers for their services would be the DTA entity of their Group company. The company clarified that operating leasing of aircraft would involve rental services for various types of aircraft, including passenger and freight aircraft.