First aircraft purchase agreement signed between GIFT city-based Vman Aviation & Airbus Helicopters under the Atmanirbhar Bharat Abhiyan

Today marked a significant day in the history of Indian aviation industry with the signing of first aircraft purchase order by a GIFT city (Gujarat International Finance Tec) based leasing company under the Atmanirbhar Bharat Abhiyan of the Government of India.

Pradeep Singh Kharola, Secretary, Ministry of Civil Aviation (MOCA) presided over the signing of the purchase agreement between Vman Aviation, GIFT City, Gandhinagar and Airbus Helicopters SAS (Marignane, France) in an event held today at the Rajiv Gandhi Bhawan, New Delhi. 
Vishok Mansingh, CEO, Vman and Remi Maillard, President, Airbus India and Managing Director, South Asia region signed the agreement. Sanjeev Kumar, Chairman AAI and Amber Dubey, Joint Secretary, MoCA along with other senior officials were present during the signing agreement.

Congratulating both the companies, Pradeep Singh Kharola, Secretary, MoCA said, “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 4-5 years to create a viable leasing & 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.”

Under the Atman Nirbhar Abhiyan, GIFT IFSC, with various incentives from the government of India and low set up costs, has become very attractive for lessors.  They can leverage the fast growing civil and military aviation market in India and abroad.