The aviation ministry is in talks with Gujarat International Finance Tec (GIFT) City in Ahmedabad to bring aircraft leasing companies into India. Currently, planes inducted by Indian carriers are primarily leased through companies based out of Dublin in Ireland, while some lease planes from Singapore.
The aviation ministry sees an opportunity based on plans by Indian carriers that aim to induct about 900 planes. “The idea is to bring the leasing business to India. A working group has been constituted to formulate a roadmap to develop the aircraft leasing opportunity in the country, as our airlines have plans to induct about 900 aircraft, a large number of which are leased.
Opportunity created by International finances services centres such as GIFT can be utilised,” said a senior ministry official, who did not want to be identified. The government estimates that airlines in India have a collective order book of about 900 aircraft, worth $45 billion. This is estimated to create an annual lease revenue opportunity of $5 billion and $200 million potential annual tax revenue from leasing alone.
28/06/18 Mihir Mishra/Economic Times
To Read the News in full at Source, Click the Headline
The aviation ministry sees an opportunity based on plans by Indian carriers that aim to induct about 900 planes. “The idea is to bring the leasing business to India. A working group has been constituted to formulate a roadmap to develop the aircraft leasing opportunity in the country, as our airlines have plans to induct about 900 aircraft, a large number of which are leased.
Opportunity created by International finances services centres such as GIFT can be utilised,” said a senior ministry official, who did not want to be identified. The government estimates that airlines in India have a collective order book of about 900 aircraft, worth $45 billion. This is estimated to create an annual lease revenue opportunity of $5 billion and $200 million potential annual tax revenue from leasing alone.
28/06/18 Mihir Mishra/Economic Times
0 comments:
Post a Comment