Air India makes $300 million payment to plane lessors via GIFT City arm

Mumbai: Air India Group has paid around $300 million to aircraft lessors through its leasing arm at IFSC Gift City in Gujarat over the past two months, a person familiar with the development said.

The wholly owned subsidiary, AI Fleet Services IFSC (AIFS), manages the group's aircraft leasing operations and is being used to route payments to lessors. "Over the past two months, we've made payments of around $300 million via IFSC GIFT City. The initial payment was of around $50 million and earlier this month, we have made payments worth $250 million. These payments have been made to lessors for aircraft," said a person familiar with the matter.

Air India did not respond to ET's query.


The wholly owned subsidiary, AI Fleet Services IFSC (AIFS), manages the group's aircraft leasing operations and is being used to route payments to lessors.