JetSetGo Aviation sets another benchmark - Imports another aircraft into country under Direct Leasing Arrangement

Hyderabad, July 19, 2022: JetSetFleet Management Services IFSC Private, a leasing arm of JetSetGo Aviation, has put another feather in its cap by directly importing an aircraft, marking yet another unprecedented occasion in the history of Indian aviation. The Hawker 800 XP aircraft, imported from Dubai and leased through GIFT City, IFSC, was hauled into the MRO after landing at Nagpur airport. Aar Indamer Technics Private Limited offered storage and parking services. For leasing, promoting MRO, and providing other ancillary services in the area, the aircraft was transported into Nagpur SEZ. The direct import is being hailed as another milestone in the country's NSOP segment after the Ministry of Finance established a framework for Aircraft Leasing and Tax SOPS to shift the leasing business from Ireland or other locations to Indian Territories.

JetSetGo Aviation is working on an innovative financing model to lease out the aircraft and intends to use the "pay-as-you-go" structure. According to this arrangement, the Company is paid according to how much the aircraft is flown. Additionally, JetSetGo is investigating revenue-sharing agreements.

Commenting on achieving this milestone, Kanika Tekriwal, Founder & CEO, JetSetGo Aviation said “This is a momentous moment for us. With the import of another Hawker 800 XP, we are moving forward towards realizing our dream of making the fastest travel between two points possible. Last year when we directly imported our first aircraft, we became the first Indian leasing company to bring an aircraft into the country directly. It is a proud moment for us to rewrite history and import another aircraft. We are thrilled to have been able to directly import aircraft now. This is an important step forward toward putting India on the global aviation map and enabling many industry-firsts going forward. With this initiative, we are setting new benchmark and ensuring that leasing an aircraft is feasible in India.”

To celebrate this landmark development, the leadership team of JetSetGo and officials of GIFT City were present during the landing of the new aircraft. The team is working 24*7 to ensure all operational formalities are completed on time. The aircraft will be flown to Delhi and will be delivered to Indo Pacific Aviation, which is another arm of JetSetGo aviation to operate under NSOP.