AIFS is an Air-India leasing company based in Gujarat International Finance Tec-City
Standard Chartered and Bank of India (BoI) on Wednesday announced a $215 million term loan facility to AI Fleet Services IFSC Ltd (AIFS) to finance six Boeing 777-300 ER aircraft, which it will lease to Air India.
AIFS is an Air-India leasing company based in Gujarat International Finance Tec-City (GIFT City).
This milestone transaction is the first commercial aircraft financing transaction to be structured with a borrower from GIFT City, positioning it as an emerging aviation financing hub, Standard Chartered and Bank of India (BoI) said in a joint statement.
Sanjay Sharma, Chairman, AIFS & Chief Financial Officer, Air India said: “Air India has embarked on a five-year transformation journey, with an order for 570 aircraft, and GIFT City will be important in financing these aircraft. With this commercial aircraft financing transaction through Standard Chartered and Bank of India, we are pleased to see GIFT City further mature and emerge as a leasing asset and aircraft financing option for airlines.”
PD Singh, CEO India and South Asia at Standard Chartered, said the term loan to AIFS will boost the growth of the aviation finance segment in India
The statement noted that Air-India is undergoing a fleet renewal and expansion program to support its transformation into a world-class global airline. Air-India currently serves 55 domestic and 45 international destinations.
Standard Chartered played a leading role as a structuring bank. Both BoI and Standard Chartered also jointly underwrote the transaction as Mandated Lead Arranger and Bookrunner.
Published on October 15, 2025
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