Gone back the days when the aviation industry was limited to flight operations and was keeping its growth limited to just boarding multiple passengers. An institution does not become unwavering when the growth charts are rising, but it turns into a robust industry when the foundational team is filled with technically advanced staff. A tremendously significant change is coming in the financial and operational backbone of the aviation sector; introduction of aircraft leasing and financing is proliferating its presence.
With the advancement of Gujarat International Finance Tech City (GIFT City), India is placing its foot deep into ground of aviation sector. The GIFT City will act as a finance hub that will help in attracting worldwide financing activities, which will eventually reduce the dependence over global leasing sources.
The transformation of the aviation industry has unlocked the doors for new opportunity for technically sound Aircraft Maintenance Engineers, who can lead from the forefront in making India a tech-Savy in Aeronautics.
Kicking-off the Concept of Aviation Leasing in India
The concept of aviation leasing is prolonging its way in India, turning the image of India into technologically advanced nation. Indian government and financial regulators are stepping in and creating incentives by which they can open the doors of aviation leasing. In aviation leasing the ownership of the aircraft will remain to airline company, but the temporary possession of the aircraft will be transferred to the lessee nation.
ETInfra has reported the fact that plans have been rolling out on the floor to give tax holidays to the aircraft leasing firm which will take out the operations in GIFT City for up to 15 years. This demonstrate the fact that India is giving a very strong push to turn itself into a pinnacle of aviation finance hub.
GIFT City has begun its operation and significantly attracting the finance activity from the aviation industry. The data by Moneycontrol shows that the engines and aircraft that are being leased by the IFSC have been increased by 31% in the year 2024 comparably to year 2023. This reflects the confidence that India has been taking forward in between the lessors and the airlines that are using India as a platform for leasing the aircrafts.
India has its own leasing arm named as AI Fleet Services IFSC Ltd. Which will be responsible to act as an intermediary between the lessor and the lessee nation. Standard chartered and bank of India is working forward in aiding AI fleet with USD 215 million for financing the Boeing 777-300ER aircraft. These advancements will be opening the gates of recruitment of technically advanced Aircraft Maintenance Engineers who will be responsible for the pre maintenance formalities prior to leasing any kind of aircraft and to check all the requisites prior to signing of lease agreements.
The door of opportunities for the Aircraft Maintenance Engineers
These moves by the Indian aviation industry has resulted into the urgent hiring prerequisite for the leasing firm. The firms will need a team of Aircraft Maintenance Engineers to perform the underlisted functions:
- Tracking the health record of the aircraft in the lease tenure
- To comply with scheduled and unscheduled maintenance compliance with the international standards
- Taking decisions on the replacement of parts and engine efficiency
- Assisting the lease parties with the technical audit of the aircraft
In the environment where the lease, sub-lease has become an integral part of the aviation industry, the rising demand of Aircraft Maintenance Engineers must be fulfilled at priority concerns.
