Newstrack

GECAS open for investments in India

Chetan Kapoor - Mumbai

Aashish Sonawala Vice president, GECAS-India

GE Commercial Aviation Services (GECAS) is exploring the option of investing in India following the reviewed foreign direct investment (FDI) policy. Speaking about this at the sidelines of the South Asia Aviation Finance Conference, Aashish Sonawala, vice president, GECAS-India mentioned, "The cargo segment is a very interesting focus area for us in the Indian market as we expect large inflation points. Besides, we are also open to investments in regional jets and airport infrastructure given the right opportunity."

GECAS provides productivity solutions through GE engine leasing, offering airframe parts, repair management, aircraft part-out via the Memphis Group (acquired in 2006) and also involved in airport financing and infrastructure.

The company has over 1,750 owned and managed aircraft with almost 230 airline customers in 70 countries and its current investments in India value US$ 1.7 billion including commitments.