September 30, 2022

Atmanirbhar Bharat: GIFT city-based Vman Aviation, Airbus Helicopters sign first aircraft purchase agreement

New Delhi, It was another significant day in the history of Indian aviation industry when first aircraft purchase agreement was signed between a Gujarat International Finance Tec (GIFT) city based leasing company Vman Aviation and Airbus Helicopters under the Atmanirbhar Bharat Abhiyan of the Government of India.

Ministry of Civil Aviation (MoCA) Secretary Pradeep Singh Kharola presided over the signing of the purchase agreement between Vman Aviation, GIFT City, Gandhinagar and Airbus Helicopters SAS (Marignane, France) in an event held at the Rajiv Gandhi Bhawan in New Delhi on July 7.

Vishok Mansingh, CEO, Vman and Remi Maillard, President, Airbus India and Managing Director, South Asia region signed the agreement. Sanjeev Kumar, Chairman Airports Authority of India (AAI) and Amber Dubey, Joint Secretary, MoCA along with other senior officials were present during the signing agreement.

Congratulating both the companies, Kharola said, “The aircraft purchase signing is a landmark event in the Indian aviation history. This agreement is the result of the efforts put in for the last four-five years to create a viable leasing and financing ecosystem in the country. This is a new business segment coming to India and the Government of India shall continue to provide all possible help to promote leasing activities in India under the Atmanirbhar Bharat Abhiyan.”

“The aircraft purchase signing is a landmark event in the Indian aviation history. This agreement is the result of the efforts put in for the last four-five years to create a viable leasing and financing ecosystem in the country. This is a new business segment coming to India and the Government of India shall continue to provide all possible help to promote leasing activities in India under the Atmanirbhar Bharat Abhiyan”

-Ministry of Civil Aviation (MoCA) Secretary Pradeep Singh Kharola

Under the AtmanNirbhar Abhiyan, GIFT IFSC, with various incentives from the Government of India and low set up costs has become very attractive for lessors.  They can leverage the fast growing civil and military aviation market in India and abroad.

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