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IndiGo, Air India plan 200+ aircraft leases through GIFT City
09 May 2026

Major Indian airlines, including IndiGo, Air India, Akasa Air, and Star Air, have announced plans to lease over 200 additional aircraft through their respective leasing arms in Gujarat's GIFT City.

The move will nearly triple the number of commercial aircraft leased through the International Financial Services Centre (IFSC).

The announcement was made at the Aircraft Leasing and Financing Summit 2.0 held in GIFT City on Friday.

Major expansions by leading airlines
Expansion goals

IndiGo's leasing arm, InterGlobe Aviation Financial Services IFSC, plans to nearly double its aircraft portfolio from 78 to 150 by March 2027. The additional aircraft are estimated to be worth $3.5-$4 billion.

Air India subsidiary AI Fleet Services also plans a major expansion, aiming to increase its GIFT IFSC-leased fleet from 16 to as many as 75 aircraft during FY27. This would involve assets worth around $2.5-$3 billion.

Akasa Air and Star Air's plans
New ventures

Akasa Air, which recently got approval to set up Akasa Air Leasing IFSC Pvt Ltd, plans to lease 60 aircraft over the next five years through GIFT City structures.

Meanwhile, Star Air subsidiary Ghodawat Aviation IFSC Pvt Ltd intends to lease six to eight regional aircraft through the center.

These ambitious plans are part of India's aggressive fleet expansion program in one of the world's largest such initiatives.

Role of IFSCA in aircraft leasing at GIFT IFSC
Financial growth

The International Financial Services Centres Authority (IFSCA) has played a key role in this growth.

So far, 101 commercial aircraft have been leased through GIFT IFSC, including 82 narrow-body aircraft and 14 wide-body aircraft.

IndiGo has leased the most at 78, followed by Air India with 16.

K Rajaraman, chairperson of IFSCA, said GIFT IFSC now has a total of 203 aircraft and 84 aircraft engines in its ecosystem.

India's massive aircraft orders and aviation financing journey
Fleet expansion

Indian airlines have placed orders for 1,631 aircraft, including 1,245 Airbus and 386 Boeing planes.

IndiGo has ordered the most with 901 aircraft, while Air India Group has ordered 541. Akasa Air has separately ordered 189 Boeing planes.

Civil Aviation Secretary Samir Kumar Sinha said the next phase of India's aviation financing journey would require access to low-cost domestic capital as it transitions from leasing activity to large-scale ownership.