Business EconomyPosted at: Oct 15 2025 4:30PM


Standard Chartered and BOI announce aircraft financing of $215-mn term loan to subsidiary of Air India

Hyderabad, oct 15 (UNI) : Standard Chartered and Bank of India have jointly announced the successful closure of a $215 million term loan facility to AI Fleet Services IFSC Limited (AIFS), a leasing arm of Air India based in GIFT City.
The 7-year amortising loan will finance six Boeing 777-300ER aircraft, which AIFS will lease to Air India as part of the airline’s ongoing fleet renewal and global expansion strategy.
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.
Both Bank of India and Standard Chartered also jointly underwrote the transaction as Mandated Lead Arranger and Bookrunner (“MLAB”).
This landmark transaction is the first commercial aircraft finance transaction to be structured with a GIFT City borrower, positioning GIFT City as an emerging aviation finance centre.
The transaction reflects the shared commitment of Standard Chartered and Bank of India to support India’s aviation growth story and highlights GIFT City’s role as a growing global aviation finance hub.
GIFT City is India’s first operational greenfield smart city and international financial services centre, promoted by Government of Gujarat in partnership with Government of India as a flagship project to position India on the global financial map.
With this transaction, it marks a milestone for India’s rapidly expanding role in global aviation financing, strengthening its position as an emerging hub for aircraft leasing and financing.
Sanjay Sharma, Chairman, AIFS & Chief Financial Officer, Air India said, “ With this commercial aircraft finance transaction via Standard Chartered and Bank of India we are glad to see GIFT City maturing further and emerging as an aircraft leasing and financing option for airlines as Indian aviation takes strides.”
Abhishek Pandey, Global Head of Transportation Finance at Standard Chartered, said, “ This financing highlights our long-standing expertise in aviation finance and our commitment to supporting India’s aviation sector as it continues its remarkable growth trajectory.”
PD Singh, CEO, India and South Asia at Standard Chartered, said, “ We believe the term loan facility to AI fleet services (AIFS), a subsidiary of Air India will provide a fillip to growing the aviation finance segment in India. It also underscores the Bank’s client centric approach and the endeavour to be an equal partner in the clients’ growth journey.
Standard Chartered was the first foreign bank to establish a branch in GIFT City and this transaction reaffirms our commitment to advancing GIFT city as a premier international financial hub. It is a matter of pride for Standard Chartered to have recently partnered with CCIL and IFSCA in bringing its global experience and expertise in managing the dollar payments as well as providing settlement services at GIFT IFSC,” Singh added.
Bank of India said, “ This initiative underscores GIFT City’s growing significance as a global hub for aircraft financing. Aviation finance is a key enabler for India’s economic growth, connecting people, businesses, and markets worldwide. By leveraging the opportunities at GIFT City, Bank of India reaffirms its commitment to strengthening India’s presence in international financial services and contributing to the nation’s vision of becoming a leader in global aviation finance.”
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