Rolls-Royce & Partners Finance to set up aircraft engine leasing unit in GIFT City

Rolls-Royce & Partners Finance (RRPF) has made a formal application to set up an aircraft engine leasing unit in GIFT City. The company, that leases out engines to various airline companies, will set up an arm, RRPF Engine Leasing (India) IFSC Pvt. Ltd, in GIFT City and will lease out aircraft engines and other equipment to airline operators. The application of the company has already been granted in-principle approval by a committee of International Financial Services Centres Authority (IFSCA). Rolls-Royce & Partners Finance was established as a separate business in 1989 by Rolls-Royce and its financial partners. The company’s portfolio comprises aircraft engines from major OEMs including CFM International, GE Aviation, International Aero Engines and Rolls-Royce. Till now, Willis Lease Finance India IFSC Pvt. Ltd, registered in 2022, was the lone large player in the engine lease segment in GIFT City, as per a report.