"Watson Farley & Williams Facilitates Groundbreaking $215M Aircraft Refinancing for Air India in GIFT City"

"Watson Farley & Williams advised Standard Chartered Bank and the Bank of India on a US$215 million refinancing deal for six Boeing B777-300ER aircraft for Air India. This transaction is notable as it is the first financing for an Indian airline structured directly to a borrower in GIFT City, India's international financial hub, without going through Ireland. The deal reflects growing confidence in the Indian aviation sector and the increasing role of domestic financial institutions in aircraft financing. The WFW Aviation team, led by Richard Williams, emphasized the significance of this innovative structure for future aviation finance in India."

Watson Farley & Williams (“WFW”) advised Standard Chartered Bank (“Standard Chartered”) and the Bank of India, IFSC Banking unit (“BOI”), in the US$215 million refinancing of six Boeing B777-300ER aircraft for Air India Limited (“Air India”). This transaction is notable for being the first financing for an Indian airline structured directly to a borrower in GIFT City, India’s emerging international financial hub, rather than through Ireland. The financing was provided directly to AI Fleet Services IFSC Limited (“AI Fleet”), Air India’s GIFT City-based subsidiary, which reflects a significant increase in market confidence and regulatory maturity in India. The involvement of BOI as a lender highlights the growing role of Indian domestic financial institutions in the aviation sector. The cross-border WFW Aviation team that advised on this transaction was led by Singapore Asset and Structured Finance Partner Richard Williams, with support from Associates May Eng and Rheya Panjwani, and Paralegal Lydia Ong. New York law advice was provided by Counsel Maxi Adamski-De Visser and Associate Chloe Sucato.

"Watson Farley & Williams Facilitates Groundbreaking $215M Aircraft Refinancing for Air India in GIFT City"

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