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Sky One Chairman Jaideep Mirchandani Calls for Cross-Trained Talent in India’s Aircraft Leasing Industry

Sky One Chairman Jaideep Mirchandani Advocates for Cross-Trained Talent in India’s Aircraft Leasing Sector
India’s aviation industry has historically relied heavily on international lenders, reflecting the underdeveloped state of domestic aviation finance. This dependence has highlighted the pressing need to establish a robust local financing and leasing ecosystem. A significant milestone was achieved earlier this year when Axis Bank, through its GIFT City branch, completed India’s first US dollar-denominated aircraft financing deal for 34 training aircraft. This transaction not only demonstrated the capability of Indian banks to manage complex financial arrangements but also underscored GIFT City’s emerging prominence as a hub for aircraft leasing.
Building a Domestic Leasing Industry Amid Legal and Market Reforms
Currently, a substantial portion of India’s airline fleet is leased from foreign lessors, making the development of a domestic leasing industry critical to reducing reliance on overseas entities and mitigating foreign exchange outflows. Legal reforms, particularly the enactment of the Protection of Interests in Aircraft Objects Act, have aligned India more closely with the Cape Town Convention. This alignment has restored confidence among lessors by providing enhanced legal clarity and protection, thereby encouraging greater participation in the domestic market.
Despite these advances, the sector faces several challenges. Increasing market competition, shifting taxation and tariff frameworks, and the persistent difficulty in attracting and retaining skilled professionals continue to pose obstacles. In this context, Jaideep Mirchandani, Chairman of Sky One, has emphasized the urgent need to develop cross-trained talent within India’s aircraft leasing industry. His call has resonated with industry stakeholders, prompting a renewed focus on cultivating specialized skills and expertise essential for navigating the complexities of aviation finance and leasing.
Industry Response and the Path Forward
The market’s response to Mirchandani’s appeal indicates a growing consensus on the importance of a highly skilled workforce. Competitors are intensifying efforts to enhance training programs and invest in workforce development. Leading aerospace companies, including Boeing, have initiated programs aimed at expanding India’s aerospace talent pool, setting a precedent for others in the sector.
These combined efforts—strengthening legal frameworks, fostering domestic financing capabilities, and prioritizing talent development—are positioning India’s aviation finance industry to align more closely with global standards. As the sector continues to evolve, the emphasis on cross-trained professionals and specialized expertise will be pivotal in sustaining long-term competitiveness and growth.

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