DK Business Network
Dentons Link Legal served as the legal counsel to Axis Bank’s International Banking Unit (IBU). The legal advisory for this landmark deal was spearheaded by Dentons Link Legal’s Managing Partner, Anand Srivastava, with Partners Namita Das and Madhur Verma on a secured loan granted to AI Fleet Services IFSC, a wholly owned subsidiary of Air India based in GIFT City, Gujarat. The loan is intended for the acquisition of 34 trainer aircraft, which will be utilized to establish a state-of-the-art Flying Training Organisation (FTO) in Amravati, Maharashtra.
This transaction holds immense strategic importance, as it marks Axis Bank’s first aircraft financing deal through its IBU at GIFT City IFSC. Traditionally, aircraft financing in India has been dominated by multinational banks, making Axis Bank’s foray into this domain a pioneering move that could pave the way for increased domestic participation in aviation finance.
The deal is expected to bolster India’s aviation training infrastructure, addressing the growing demand for skilled pilots and aviation professionals. The planned Flying Training Organisation in Amravati will enhance pilot training capabilities, reducing dependency on foreign training institutes and strengthening India’s self-reliance in aviation education. As India’s aviation industry continues to expand, this financing arrangement not only signifies a major milestone for Axis Bank but also highlights the growing role of GIFT City IFSC as a key hub for international financial transactions in the aviation sector.
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