Air India on Friday completed the acquisition of its first Airbus A350-900 aircraft through a finance lease transaction with HSBC, the Tata group carrier announced on Friday. Apart from being the first aircraft financing transaction from Air India’s massive 470-plane order, it is also the first such transaction by a scheduled airline through India’s first International Financial Services Centre (IFSC) in the Gujarat International Finance Tec-City (GIFT City).
The transaction was facilitated by AI Fleet Services Limited (AIFS), a wholly owned subsidiary of Air India, and a GIFT IFSC-registered finance company, the Tata group airline said in a release. Air India did not provide details of the transaction.
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