Rolls-Royce & Partners Finance (RRPF) started leasing aircraft engines to customers in India nearly twenty years ago. Today, we’re putting down roots in India and have established a new subsidiary business in GIFT City to better serve customers locally.
India is one of the fastest growing economies in the world, with its increasingly mobile population and tech ecosystem making it a prime location for civil aviation and fintech companies to strategically position themselves.
In particular, Gujarat International Finance Tec-City (GIFT City) – launched by the Indian Government in 2015 to boost India’s international finance sector – offers significant advantages for these types of businesses.
GIFT City is a hub for aviation finance
GIFT City’s International Financial Services Centre (IFSC) is poised to be a hub for global financial transactions, including aircraft leasing and financing, offering a platform for cross-border transactions with minimal regulatory friction.
Being in close proximity to global and domestic aviation hubs and with access to high-growth markets in India and the wider Asia-Pacific region, its favourable range of economic policies translate into cost savings for aviation lessors, allowing them to pass on value to airline customers.
GIFT City is a gateway to key partners and customers, with large airlines like Indigo and Air India also situating their assets in the new enclave.
RRPF in GIFT City
RRPF has had a significant presence in India over the last twenty years and now we’re one of the first aircraft engine lessors to launch a subsidiary, RRPF Engine Leasing (India) IFSC Pvt Ltd, in GIFT City.
The set-up of our new entity has already proved beneficial for growing Indian airline, Akasa Air. We’re partnering with the airline on the long-term sale and leaseback of two LEAP-1B engines which will be delivered in September and October 2024.
This milestone deal is our first transaction through the new entity and a first step in our ambition to further develop our presence and partner with new customers in the region through financing and lease solutions.
“As the aviation industry continues to evolve, we recognize the importance of aligning with innovative partners who share our vision for the future,” comments Priya Mehra, Chief of Governance & Strategic Acquisitions at Akasa Air. “We are excited to have had the opportunity to partner with RRPF in their first transaction from the International Financial Services Centre (IFSC) in GIFT City. This collaboration is a testament to our proactive approach in navigating the complexities of the aviation landscape, as well as our wholehearted commitment to partnering in the growth of India’s aviation finance sector.”
A partner close at hand
As the largest lessor of Rolls-Royce Trent engines, we’re well placed to support the demand for engines and spare parts in the region through the kind of long-term partnerships we have demonstrated in our main business since 1989.
Mithra Ram, our Business Development Executive has been in GIFT City facilitating the launch of the new office. “It’s a great time to be on the ground here,” he explains. “There seems to be activity everywhere you look, with new infrastructure and amenities popping up every day, attracting key players in the industry. As a business development executive, being here means I can work closely with Indian airline customers to understand their needs and forge relationships that will deliver value throughout their growth and beyond.”
“We’re proud to be opening our first office here,” says Darragh O'Callaghan, Director of Sales & Marketing at RRPF. “It’s an exciting time to play a key role in this market and enable the regional airlines to support the unprecedented growth we’re expecting to see over the next decade.”