New Delhi, 26th Sept 2026:
GIFT City–based aircraft leasing platform SkyPulse Solutions IFSC has signed a Memorandum of Understanding with Hindustan Aeronautics Limited (HAL) to establish a domestic helicopter acquisition, leasing, and lifecycle-support ecosystem in India.
Under the initial agreement, SkyPulse plans to procure up to 30 HAL-manufactured helicopters in phases. The fleet will comprise Next-Generation Dhruv (Dhruv-NG) twin-engine and single-engine platforms, designed for deployment across a wide range of commercial and government missions.
Onshoring Aviation Finance via GIFT City
A core element of the partnership is its financing structure, anchored in Gujarat International Finance Tec-City (GIFT City). By utilizing the International Financial Services Centre (IFSC) framework, SkyPulse aims to offer localized operating leases and asset management services tailored to domestic helicopter operators.
Expanding Civil Aviation Capabilities
The partnership aims to expand the footprint of domestically produced helicopters into high-demand civil and utility sectors, including:
- Helicopter Emergency Medical Services (HEMS) and air ambulance operations.
- Search and rescue (SAR) and rapid disaster response missions.
- Infrastructure support, tourism, and last-mile regional air connectivity.
Statement from Mr. Gagan Jacobs Director, SkyPulse Solutions IFSC Private Limited:
This MoU marks a defining milestone for SkyPulse and for the evolution of India’s civil helicopter ecosystem. Our vision is not simply to acquire and lease helicopters; it is to build an integrated, commercially sustainable helicopter ecosystem that brings together indigenous manufacturing, innovative aviation finance, leasing, asset management, lifecycle support and mission-ready operations. By combining HAL’s world-class indigenous aerospace capabilities with SkyPulse’s platform at GIFT City, we aim to create a scalable model through which Indian-manufactured helicopters can be deployed where they are needed most — from HEMS and air ambulance services to disaster response, search and rescue, regional connectivity, infrastructure and other critical missions.
The proposed 30-helicopter programme is an important first step in this journey. Our ambition is to develop a long-term platform that supports the growth of India’s helicopter industry, strengthens domestic capabilities and creates new opportunities for financing, leasing, MRO, training and mission support.
For SkyPulse, this is about more than aircraft. It is about building the financial and operational infrastructure around Indian helicopters and creating a model that can scale across India and, over time, international markets. We are proud to partner with HAL in this endeavour and look forward to translating this framework into tangible programmes that contribute to Atmanirbhar Bharat, Make in India and the expansion of India’s civil aviation ecosystem.
