Date: 15/05/2024

New aircraft leasing units at Gift City
The International Financial Services Centre (IFSC) at Gift City in Gujarat is experiencing a take-off in aircraft leasing activity with the first quarter of 2024 (January-March) witnessing a significant surge, with a remarkable 27 new aircraft leasing units registering at Gift City. This substantial rise in the number of companies operating in the sector is likely driven by tax benefits and the ongoing expansion of the aviation industry. The data reveals that compared to December 2023, there’s been a 129.41 per cent increase, bringing the total number of leased aircraft to 39 by March 2024. This growth isn’t limited to just airplanes; the number of leased engines has also seen a significant rise of 14.55 per cent, reaching a total of 63 leased engines during the same period. The number of leased ground support equipment remained steady at 56 units, as per a report.