HAL and Vman partner for setting up an Aviation Leasing Company in GIFT City, India

Hindustan Aeronautics Limited (HAL) and Vman have signed a Memorandum of Understanding (MoU) for setting up an aviation leasing company in GIFT City, Gujrat, India. The company will provide helicopter, transport, commuter, trainer aircraft, simulator and ground support equipment on lease to civil, government, and military customers in India and abroad.

The company’s asset portfolio will cover equipment from multiple OEMs including all categories and types.

There is large unfulfilled demand for the lease of various types of equipment for last-mile connectivity training, HEMS, Law enforcement, Disaster management in civil and transport, utility, training, border patrol, Air to Air Refuelers for the military.

“This joint venture will provide equipment to these segments to increase penetration of aviation in hinterland,” said Vishok Mansingh, CEO, Vman. “Military around the world are facing serious challenge in capital budget allocation. The leasing of the equipment provides them to achieve desired number and the type of the equipment in required time frame with lower life cycle cost,” he added.

HAL and Vman, with their specific domain expertise, will provide the most economical life cycle cost solution for these demands for customer.