Air India to set up a leasing unit at IFSC Gift City

Air India has become the first major airline to set up a leasing unit at IFSC Gift City in Gujarat. The airline’s six A350s, which are slated to be inducted into the fleet, will come through the leasing firm AI Fleet Services IFSC Limited under a financial lease, sources claim. The estimated project cost is INR 7.253bn. Air India’s ‘AI Fleet Services IFSC Limited’ was approved earlier this month during the SEZ meeting held on August 7. This will function as a subsidiary of Air India with Vinod Hejmadi, chief financial officer, Air India, Kalpana Rao, secretary, Air India and Abhijit