Mumbai-based Vman Aero Services aims to be among the first companies to enter the general aviation aircraft leasing market in India since the establishment earlier this year of a framework permitting these types of transactions. The International Financial Services Center Authority (IFSCA) announced the framework at Gujarat International Finance Tec-City (GIFT City) in Ahmedabad in India’s western state of Gujarat.
Vman Aero has signed for an Airbus Helicopters H125 that it intends to dry lease to a customer by year-end, company CEO Vishok Mansingh told AIN. It also signed options for four more of the light single helicopters that can be exercised by March 2022.
“We can now provide economical leasing solutions to the general business and helicopter segment in India that international lessors are wary to look at,” said Mansingh. He added that being based in India and knowing the market well would help Vman Aero to monitor any defaulting companies.
“One of the biggest challenges in general aviation [in India] is access to leased equipment at a reasonable cost,” he added. The H125, said Mansingh, has potential in India for multi-role missions, including passenger/VIP transportation and aerial work.
However, going forward, Vman Aero plans to add larger aircraft to its leased inventory, according to Mansingh.