Akasa Air launches aircraft leasing unit in GIFT City
Business
Akasa Air, the budget airline, just launched a new company to handle its aircraft leasing and financing.
The new unit, called Akasa Air Leasing IFSC Private Limited (AALI), is based in Gujarat's GIFT City and is meant to help Akasa save money, boost flexibility, and tap into global funding.
AALI to finance most Akasa aircraft
AALI is expected to finance a majority of Akasa's aircraft over time, making it easier for the airline to grow its fleet (it already flies 38 Boeing 737 MAX jets and has 226 more on order).
This also helps India build up its own aircraft leasing industry, something big airlines like IndiGo and Air India are doing too by setting up similar units in GIFT City.