Question-Which of the following aviation services has signed Gift city’s first aircraft purchase agreement?
(a) Vman Aviation services
(b) Global aviation services
(c) Shining aviation services
(d) Sigma aviation services
Ans. (a)
Related facts-
- Indian aircraft leasing company Vman Aviation Services, which is based out of International Financial Services Centre (IFSC) at Gujarat’s Gift City, on June 7, 2021 became the first company from the business district to sign an aircraft purchase agreement after placing an order for an Airbus H125 helicopter.
- Vman will soon announce its first dry lease transaction, the company said in a statement.
- A dry lease is a leasing arrangement where an aircraft lessor provides an aircraft without crew, ground staff, etc, to an airline or corporation.
- The union budget announced earlier in the year rolled out several incentives and tax holidays on capital gains on aircraft leasing conducted at Gift city.
- One of the biggest challenges this segment faces is access to leased equipment at reasonable costs.
- However, with recently announced Government initiatives, incentives, IFSCA’s policy on aircraft leasing, GIFT city infrastructure and our own extensive domestic market experience, Vman can provide economical leasing solutions to the general, business and helicopter segment in India.
- Two global aircraft financing and leasing companies, and two domestic aviation-related firms will be setting up aircraft leasing arms at the International Financial Services Centre (IFSC) in Gujarat’s GIFT City.
- 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 to 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.
By- Yogesh Pratap Singh