GIFT city-based lessors likely to lease out 60-odd aircraft by March 2023

The 11 aircraft leased out of GIFT City to date include helicopters, regional aircraft, trainer aircraft and private jets

Aircraft lessors based out of Gujarat International Finance Tec-City (GIFT City) are likely to lease out about 60 aircraft, including helicopters, by March 2023, said Dipesh Shah, executive director (Development), International Financial Services Centres Authority (IFSCA), on Wednesday.

"The aircraft leasing framework came out in 2021. And in just a few months after that, in August, the first aircraft was leased out from GIFT City in India," Shah said during a conference organised by aviation consultancy firm Ishka. The IFSCA regulates the financial institutions present in GIFT City.

In May 2022, the IFSCA further enabled the IFSC framework