Vman Aviation Services IFSC Pvt Ltd is set to become the first leasing company to start operations from International Financial Service Centre (IFSC) at Gujarat International Fin-Tec City. The company, which has received all approvals, will complete its first transaction by the first week of May. The transaction is likely to cost €5.0 million for two helicopters and will be delivered by September-October.
As many as four companies had expressed early interest to set up a leasing company in IFSC’s GIFT City. While SpiceJet and HAL were looking to lease aircraft or helicopters from the GIFT city.
Speaking to BusinessLine, officials at GIFT city said that Vman Aviation was the first leasing company to get its approval last week. Another two players, Acumen and JetSetGo, are yet to get their approvals. One of the sources added that Vman was likely to conduct its first transaction out of GIFT City as early as next week.
While Vishok Mansingh, CEO, of Vman did not divulge details, he said: “We will start ordering assets in the coming week to build up our asset portfolio. We expect delivery of the asset by September-October.”
Vman Aero Services LLP is a Mumbai based aviation consultancy and asset management company that provides services across all segments of commercial civil aviation. Its 100 per cent subsidiary is Vman Aviation Services IFSC Pvt Ltd
Airbus’ H125 is the most popular single engine helicopter type in India . Sources have said that “Vman, too, is likely to opt for two of these helicopters. The transaction is likely to go through in the first week of May. The transaction is likely to cost €5.0 million.”