NEW DELHI: India’s aviation sector received a major boost as Union Civil Aviation Minister Kinjarapu Rammohan Naidu announced that nearly 150 aircraft will be leased from GIFT City within the next two years.
Speaking at the India Aircraft Leasing and Financing Summit 2.0 in Gandhinagar, the minister said India is working to make GIFT City a global aviation finance and leasing hub similar to Dublin, Singapore and Dubai.
Linking the sector’s growth to Prime Minister Narendra Modi’s vision, Naidu said India’s aviation sector has seen a “revolutionary transformation” over the past 12 years, with rapid expansion in airports and aircraft fleets.
The minister said India’s biggest challenge now is a shortage of aircraft. “The demand is rising faster than the supply of planes,” he said, adding that nearly 85 percent of India’s scheduled airline fleet currently operates on leased aircraft.
He said airlines are increasingly preferring leasing models over direct purchases, making it important for India to develop domestic leasing facilities instead of depending on foreign hubs.
Naidu announced that major Indian airlines are expanding their leasing operations in GIFT City. IndiGo is expected to increase its leasing portfolio in GIFT City from 75 aircraft to nearly 150 aircraft over the next two years, while Air India will lease more than 75 aircraft from the hub. Akasa Air plans to lease around 60 aircraft, and Star Air is expected to lease six to eight aircraft from GIFT City.
08/05/2026 Dilip Singh Kshatriya/New Indian Express
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