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.
On October 16, 2020, the Centre on the recommendation of IFSCA had notified Aircraft lease business as financial product under the International Financial Services Centres Authority Act, 2019.The
The International Financial Services Centres Authority (IFSCA) on Friday issued the framework to enable the aircraft operating lease business in India s International Financial Services Centres.On October 16, 2020, the Centre on the .
Read more about IFSC Authority announces framework for aircraft operating companies on Business Standard. The Government of India, on the recommendation of (IFSCA), on October 16, 2020 had notified aircraft lease norms, an official statement said