Akasa Air has set up a new entity at Gujarat’s GIFT City to strengthen its aircraft financing and leasing operations. The company, Akasa Air Leasing IFSC Private Limited, is expected to help the airline access better funding terms while improving flexibility and lowering costs through an IFSC framework.
After the disruption caused by Go First, India’s relationship with global aircraft lessors is showing a clear turnaround. The Aviation Working Group has upgraded the country’s ratings to the highest level in recent years, signaling improved confidence. The shift points to stronger processes and reduced risk perceptions for airlines and lessors working in India.
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India notified final Cape Town Convention rules on January 30, a move meant to help global aircraft lessors recover planes if airlines enter insolvency, as seen in the Go First case. While the update strengthens enforcement pathways to reclaim grounded aircraft, uncertainty remains around how fully the legal framework will protect lessors in practice.
After the Go First collapse exposed how hard it can be for aircraft lessors to recover planes quickly, a new consultation paper proposes “bankruptcy-remote” SPVs in India’s GIFT City. The framework is designed to make repossession easier if an airline fails, potentially reducing dependence on offshore hubs like Ireland and reshaping leasing deal terms.
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