India considered extending the tax holiday for aircraft lessors in GIFT City from 10 to 15 years.
The proposal targeted higher profits in later leasing years when depreciation charges fell to zero. GIFT City housed 33 aircraft lessors and facilitated leases for over 60 aircraft and engines as of January 2025. The change aimed to challenge Ireland’s dominance in the €187bn global aircraft leasing market.
Local carriers IndiGo and Air India stood to gain through their in-house leasing arms in the finance hub.
Ireland’s leasing industry owns or manages aircraft worth €274bn representing 69pc of global leased value. Ireland manages over 10000 aircraft through 19 of the world’s largest 20 lessors based in Dublin with the sector leasing over half the global fleet.
