Gandhinagar, 2nd January 2024:

ModAir Aviation, the leasing and finance company based at IFSC GIFT City, Gandhinagar, Gujarat has inducted fifth aircraft under its wings. The latest one is a two-seater aircraft, Tecnam P-Mentor used for flight training. The import of this aircraft is facilitated under the guidelines of IFSC – GIFT City. This aircraft would be leased to an upcoming FTO preparing to commence operations in Karnataka. ModAir has plans to induct one more aircraft by the end of FY 2023-24 for one of the NSOPs.

Atul Jain, Director, ModAir Aviation said, “We are excited to welcome the fifth aircraft under our Company. We take pride in supporting our Hon’ble PM’s vision. Very soon we would be inducting our sixth aircraft. The company’scurrent concentration is on Fight Training and Non-Scheduled aircraft category operations for the Indian market by Importing, Finance and Leasing of the aircraft.”

Ashish Jaiswal, Chief Executive Officer, ModAir Aviation added, “With this fifth aircraft induction, the landscape of aircraft induction through India-based Aircraft Leasing infrastructure is taking shape.We extend our sincere thanks to the Government of India, IFSC Authority&the GIFT City for providing the required platform to enable seamless and easy aircraft induction in the Country.”