Aditya Birla enters aircraft leasing with UHG in GIFT City
Business
Aditya Birla Group is making its debut in the aircraft leasing world with a new company, UHG Holdings IFSC Pvt. Ltd. set up by Hindalco Industries, UltraTech Cement, and Grasim Industries.
The move puts them right in the middle of GIFT City's fast-growing aviation finance scene in Gujarat.
GIFT City hosts 37 aircraft lessors
GIFT City has become a hotspot for aircraft leasing, now home to 37 aircraft-leasing entities managing 412 aviation assets.
Big names like Adani and Tata's Air India are already there.
With Indian airlines planning to lease 199 additional aircraft soon, Aditya Birla's entry signals how quickly this industry is taking off, and how major Indian players want in on the action.