Ahmedabad: Air India has leased its first Airbus A350-900 plane from a wholly-owned subsidiary primarily based inside the Gujarat International Finance Tec-City (GIFT City), marking the beginning of its aircraft leasing business from the city.
The leasing unit, AI Fleet Services IFSC Limited, changed into set up by Air India in August this 12 months to finance the purchase of recent aircraft. The airline has placed orders for 470 new aircraft, along with 250 from Airbus and 220 from Boeing.
The A350-900 plane leased from GIFT City is anticipated to be added to Air India thru the end of this 12 months. The airline will use the aircraft on its lengthy-haul routes.
The leasing of plane from GIFT City is a brilliant improvement for the airline and for the metropolis itself. GIFT City is being evolved as a international monetary services hub, and the leasing of aircraft from the town will assist to attract greater remote places investment and create jobs.
Benefits of leasing aircraft from GIFT City:
- Tax blessings: The Government of India gives a number of tax benefits to corporations that perform from GIFT City. These benefits consist of a one hundred% exemption from earnings tax on earnings for a period of 10 years, a a hundred% exemption from customs obligation at the import of goods and offerings, and a a hundred% exemption from stamp duty on the registration of files.
- Ease of doing enterprise: GIFT City is a single-window clearance authority, which means that corporations can attain all the approvals they want to characteristic from the town from a single location. This makes it tons much less hard for groups to installation and perform in GIFT City.
- Connectivity: GIFT City is nicely-associated with most important towns in India and the sector. The city has its personal airport, that is linked to maximum important towns in India and the world. GIFT City is also related to the railway network and the country wide highway community.
The leasing of aircraft from GIFT City is a outstanding improvement for Air India and for the town itself. It will assist Air India to maintain cash on plane leasing fees and could assist to attract more foreign investment and create jobs in GIFT City.