Dentons Link Legal acted as the legal counsel to Axis Bank (IBU) on a USD 20 million secured loan extended to AI Fleet Services IFSC Limited—a wholly owned subsidiary of Air India Limited based in GIFT City, Gujarat for acquisition of 34 trainer aircraft to establish a state-of-the-art Flying Training Organization in Amravati, Maharashtra.
Axis being the first Indian bank to execute an aircraft financing transaction through its International Banking Unit at GIFT City IFSC, this deal marks a significant milestone in the Indian Aviation finance sector which has traditionally seen participation from multi-national Banks.
The matter was led by Managing Partner, Anand Srivastava, alongside Partners, Namita Das and Madhur Verma, with strategic inputs from Dentons UKIME Partners Sarah Dyke and Donal Keane
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