Indian aircraft leasing company Vman Aviation Services, which is based out of International Financial Services Centre (IFSC) at Gujarat's Gift City, on Wednesday became the first company from the business district to sign an aircraft purchase agreement after placing an order for an Airbus H125 helicopter. A dry lease is a leasing arrangement where an aircraft lessor provides an aircraft without crew, ground staff, etc, to an airline or corporation. The union budget announced earlier in the year rolled out several incentives and tax holidays on capital gains on aircraft leasing conducted at Gift city. “One of the biggest challenges this segment faces is access to leased equipment at reasonable costs," said Vishok Mansingh, chief executive of Vman Aviation Services. These include Ireland-based Acumen Aviation, London-based Investec Aviation Finance and domestic private jet aggregator JetSetGo.

Source: Mint July 07, 2021 15:00 UTC