Akasa Air sets up entity for aircraft financing, leasing in GIFT City

Akasa Air has set up an entity at the GIFT City in Gujarat to strengthen its aircraft financing and leasing activities. AALI is expected to finance a majority of the airlines aircraft over time while strengthening onshore leasing capabilities, the release said. Air India and IndiGo also have their aircraft leasing entities in the GIFT City.

Akasa Air has set up an entity at the GIFT City in Gujarat to strengthen its aircraft financing and leasing activities. The nearly four-year-old carrier has established Akasa Air Leasing IFSC Private Limited (AALI) at Gujarat International Finance Tec-City (GIFT City), Gandhinagar. In a release on Friday, the airline said AALI office would play a pivotal role in advancing its aircraft financing strategy, enabling greater flexibility, cost efficiency, and enhanced access to global capital markets. ''AALI is expected to finance a majority of the airline's aircraft over time while strengthening onshore leasing capabilities,'' the release said. Currently, Akasa Air has a fleet of 38 Boeing 737 MAX airplanes. It has placed an order for 226 such aircraft. Air India and IndiGo also have their aircraft leasing entities in the GIFT City.