Vman concludes first ever helicopter lease deal from GIFT City

An Airbus H125 helicopter has been leased from Gujarat's GIFT City in the first such transaction after relaxation of leasing norms in the country.

On Friday, Vman announced the leasing of an Airbus H125 helicopter to Thumby Aviation, a non scheduled operator which pioneered heli taxi service in Bengaluru. The company also has operations in Uttarakhand, Chhattisgarh and North East states.

In her budget speech this year union finance minister Nirmala Sitharaman had announced tax incentives for leasing companies setting up operations in the GIFT City. This was a part of the government initiatives to make India a hub for aircraft leasing.

 Vman is the first company to start operations from International Financial Services Centre in GIFT City. Last month it signed a purchase agreement for one Airbus H125 helicopter.

“IFSC in India is enabling various structures and businesses which otherwise were served from global 

financial centres; this transaction is a great demonstration for onshoring the offshore financial services. 

We are seeing great traction from potential lessors to set up base at IFSC to serve both India as well as global markets,” said Dipesh Shah, head development, IFSC Authority.

Aircraft leasing at most economical cost will help transform people's lives, added Vishok Mansingh, CEO of Vman.