Mumbai, 25th July,2022:
ModAir an entity registered in GIFT City, Gandhi Nagar, Gujarat as an aircraft leasing company leased out its first aircraft which is an Italian trainer twin engine Aircraft (Tecnam) to a flight training academy in Jalgaon, Maharashtra through a lease of IFSC city, Ahmedabad. This is the first time a trainer aircraft is leased in India to an FTO. ModAir has set a benchmark in Indian Aviation by leasing an aircraft which will be helpful for the aspiring pilots of our country.
The aircraft was brought from jalgaon and towed into the Air India MRO at MIHAN SEZ after landing at Nagpur’s Dr. BabasahebAmbedkar International Airport. Parking and warehouse services were provided by Air India MRO.
Atul Jain, Managing Director of Mod Air, said “The Company plans to bring 20 more trainer aircrafts by the end of 2025 through GIFT CITY. We are happy to lease the aircraft to a Flying Training Organisation through GIFT CITY for the first time in the country. With this initiative, we want to ensure that leasing of aircraft to FTO’s becomes achievable in India. Flight training in India can take upto three years to finish what international does in 8 to 12 months. An absence of flying machines also hinders potential training. Flight schools often finance the purchase of new airplanes for their training fleet. Leasing can improve a flight training operators’ cash flow situation by allowing them to continue modernisation with technologically advanced aircraft even in challenging economic times. We are ready to help to lease more aircrafts to FTO’s to make this model successful under AtmaNirbhar Bharat.”
