International Financial Services Centres Authority

(A statutory authority established by Government of India)

Aircraft Leasing

IFSCA Regulations, Framework & Guidelines for Aircraft leasing
Notification/circular numberDateRegulation, Framework & Guidelines NumberDateTypeView
1 Framework for Aircraft Lease, updated as on November 15, 2023. F. No. 172/IFSCA/Finance Company Regulations/2022-23/01 15/11/2023 Circular  
2 Amendment to the IFSCA circular titled 'Framework for Aircraft Lease' - Enabling lease of Aviation training simulation devices F. No. 172/IFSCA/Finance Company Regulations/2022-23/003 26/04/2023 Circular  
3 Utilisation of office space or manpower or both by entities undertaking aircraft leasing activity in the IFSC F. No. 535/IFSCA/FC/ALF/2023-24/02 18/04/2023 Circular  
4 Enabling operating lease, including an hybrid of operating and financial lease, in respect of ‘Aviation training simulation devices’,as a financial product. CG-GJ-E-13042023-245158 11/04/2023 Notification  
5 Corrigendum to aircraft ground support equipment as financial products CG-DL-E-29042022-235432 27/04/2022 Notification  
6 IFSCA Specifies Aircraft Ground Support Equipment as Financial Product CG-DL-E-13042022-235125 12/04/2022 Notification  
Notifications and Circulars issued by other Ministries and Govt. Organisations
Sr. No.Proposed titleIssuing Authority Notification/circular numberDateTypeView
1 CAR Section 2 - Airworthiness Series - F Part VII Issue II regarding Special Flight Permits Office of the Director General of Civil Avaition F. No. 11-690/CAR/F-Part/VIl/2006-Al(2) 12/04/2024 Circular  
2 An exemption from applicability of provisions of the Insolvency and Bankruptcy Code, 2016 for the transactions, arrangements or agreements, under the Convention and the Protocol, relating to aircraft, aircraft engines, airframes and helicopters. Ministry of Corporate Affairs CG-DL-E-04102023-249132 03/10/2023 Notification  
3 The Department of Commerce introduced Rule 29A enabling import, acquisition, supply and export of aircraft to and from IFSC from any customs airport, port or landing station in India. Ministry of Commerce and Industry CG-DL-E-04102022-239329 03/10/2023 Notification  
4 Directorate General of Civil Aviation (DGCA) exempted IFSC-based Aircraft leasing units from any approval/NOC for import/acquisition of the Aircraft Directorate General of Civil Aviation (DGCA) Air Transport Circular No. 02/2017 19/09/2022 Circular  
5 Notification enabling Operating lease including any hybrid of operating and financial lease of such product or equipment as may be specified by International Financial Services Centres Authority, as financial product. Department of Economic Affairs, Ministry of Finance CG-DL-E-14122021-231860 14/12/2021 Notification  
6 (DGFT) permitted the import of Aircraft by IFSC based Aircraft leasing entity under its Import Policy. Directorate General of Foreign Trade (DGFT) CG-DL-E-31082021-229320 31/08/2021 Notification  
7 Aircraft Leases Classified as Financial Products Under IFSC Act, 2019 Department of Economic Affairs, Ministry of Finance CG-DL-E-16102020-222516 16/10/2020 Notification  
8 CAR Section 2 - Airworthiness Series - F Part I Issue II regarding Registration/De-registration of aircraft Office of the Director General of Civil Avaition File No. 11-690/Sec-2/F-I/2008-AI(2) 13/06/2017 Circular  
Forms for Aircraft leasing
Sr. No.Proposed title Issuing AuthorityView
1 IFSCA Aircraft leasing framework along with Application form IFSCA  
Issuing Authority
Frequently Asked Questions - FAQs
Sr. No.Proposed title  View
1 Frequently Asked Questions (FAQs) On Finance Company / Finance Unit IFSCA  
Sr. No.Proposed titleDate View
1 Statistics for Aircraft leasing activities in GIFT IFSC as on May 31, 2023 31/03/2024  
List of Registered Entities
Sr. No.Proposed titleDate View
1 List of Registered Aircraft leasing Entities with IFSCA 31/03/2024  

Should you have any queries on issues related to fund management, market participants and other stakeholders should not hesitate to write to Dr. Dipesh Shah (Executive Director, IFSCA) at or call on 079-61809800