UAE-based global aviation group Sky One FZE is actively exploring expansion opportunities in India with significant acquisition plans and new partnerships.
With a diverse portfolio of aviation assets, including helicopter charter services under the aegis of Sky One Airways, the Group is already present in the country, particularly in the Northeast region. “The company aims to capitalize on India’s flourishing aviation market and contribute to its dynamic growth,” Jaideep Mirchandani, the Chairman of Sky One FZE said.
Recent studies highlight India’s immense potential as one of the largest aviation markets in the world, offering significant opportunities for financing in the aircraft leasing segment. Projections indicate that the country could see financing up to USD100 billion in this sector over the next 20 years.
“These figures underscore the necessity for strategic and definitive actions to be implemented, particularly in the aircraft leasing segment, and Sky One FZE’s India expansion strategy aims to capitalize on these emerging opportunities,” Mirchandani said.
In 2023, Sky One FZE was one among three bidders who sought to buy the government’s stake in helicopter services company Pawan Hans in India. Mirchandani said that Sky One FZE’s commitment to uncompromising safety, reliability with a customer-centricity approach will position it as a valuable contributor to India’s aviation growth story.
By 2038, India’s airplane fleet is projected to quadruple in size and reach 2,300 aircraft, with single-aisle planes leading the demand and accounting for nearly 85 percent of new deliveries. Furthermore, by 2050, India’s commercial fleet size is expected to exceed 5,000 aircraft.
“As experts in leasing, we aim to expand collaborations in the burgeoning Indian aviation sector by partnering with additional aircraft providers to ensure safe and reliable travel for a broader range of customers. We are also exploring possibilities like the acquisition and revival of some partner airlines,” he noted.
Mirchandani also added that Sky One FZE is committed to engaging with relevant stakeholders, industry partners, and regulatory authorities to ensure future initiatives align with India’s aviation vision and contribute to its sustainable growth.
“The rapid advances in technology, frequent changes in government policies, and environmental regulations are vital components that we need to consider while planning. Fortunately, India provides a highly positive environment on all these components, which encourages more potential tie-ups to turn the country into a global aviation hub,” the Group Chairman said.
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