April 24, 2023
The flying business in GIFT City has seen a critical increase in movement throughout the course of recent years. The city’s strategic location and world-class infrastructure have attracted aircraft leasing companies, making it an ideal location for aviation-related businesses.
Aircraft leasing companies with bases in GIFT City have signed 26 leases in the past two years alone. Twelve of these leases are for aircraft and helicopters, including a Bombardier business jet that can travel 6,500 nautical miles without stopping and an Israel Aerospace Industries-designed Gulfstream G200. Leasing Russian helicopters has also become a popular option, particularly for VIP transportation and offshore oil and gas operations.
According to Dipesh Shah, the International Financial Services Centres Authority (IFSCA)’s Executive Director of the Department of Development, there are currently 21 businesses operating in GIFT City, and all of them have completed 26 transactions. Notwithstanding the airplane and helicopter leases, there is one rent for an airplane motor and 13 for ground support hardware.
There are a number of reasons why the aviation industry is expanding in GIFT City. First and foremost, the city’s strategic location close to major airports like Ahmedabad makes it ideal for aircraft leasing businesses Looking to Invest in the Indian aviation industry. Second, GIFT City is a popular destination for aviation-related businesses because it has world-class infrastructure and offers cutting-edge amenities and facilities that are comparable to the best in the world.
Moreover, GIFT City gives an ideal business climate, with motivators, for example, tax cuts and smoothed-out administrative techniques, adding to the making of a strong biological system for flight organizations.
