Aditya Birla Group seeks approval for aircraft leasing in GIFT City

The Aditya Birla Group has launched its inaugural move into the aircraft‑leasing sector, as UHG Holdings IFSC Pvt Ltd applies for the necessary clearance to operate leasing services from GIFT City.
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The Aditya Birla Group has taken its first concrete step toward joining the aircraft‑leasing market, with its newly formed GIFT City subsidiary, UHG Holdings IFSC Pvt Ltd, filing for regulatory permission to conduct leasing operations.

The submission, directed to the GIFT‑Multiservice Special Economic Zone Approval Committee, signals the conglomerate’s entrance into the fast‑growing aircraft‑finance hub at Gujarat International Finance Tec‑City (GIFT City). Three Aditya Birla Group firms—Hindalco Industries, UltraTech Cement, and Grasim Industries—established UHG Holdings on 20 August 2026. The new entity will conduct aircraft‑leasing activities under the oversight of the International Financial Services Centres Authority (IFSCA).

Aircraft leasing is a capital‑heavy business where lessors purchase jets and lease them to airlines. UHG Holdings will be owned by the three Aditya Birla Group companies, with Hindalco holding a 50 % stake, UltraTech Cement 41 %, and Grasim Industries 9 %. The firm was launched with an initial paid‑up capital of ₹10 lakh, though its incorporation papers note that it can also draw on shareholder contributions and external borrowing to fund its operations. This initiative provides the Aditya Birla Group a foothold in a specialised financial niche that is steadily expanding within GIFT City, as India aims to cultivate a domestic centre for aircraft financing and leasing.

GIFT City’s aircraft‑leasing landscape grows

Aditya Birla Group’s arrival coincides with GIFT City’s aircraft‑leasing ecosystem drawing interest from some of India’s largest conglomerates and airlines. The Adani Group has launched leasing vehicles in the IFSC, while Tata Group’s Air India and IndiGo have set up GIFT City entities to finance and lease aircraft. Akasa Air has likewise created an IFSC leasing arm as it expands its fleet. Aditya Birla Group’s entry is distinctive because, unlike the airline groups, it is venturing into aircraft leasing as a fresh business through a consortium of its industrial arms.

The timing aligns with rapid expansion in the GIFT City market. By June 2026, 37 aircraft‑leasing companies were operating from the IFSC, managing a combined portfolio of 412 aviation assets—including 237 aircraft, 87 engines, and 85 APUs. Financing extended by International Banking Units to these leasing firms reached $664.77 million at the end of June 2026, up from $234.6 million a year earlier. The upswing indicates that aircraft leasing is becoming a substantial component of GIFT City’s financial ecosystem, and UHG Holdings will now seek to carve out its place in this market.

Airlines plan further aircraft leases

Earlier this year, the business line reported that major Indian carriers—IndiGo, Air India, Akasa Air, and Star Air—have committed to lease roughly 199 additional aircraft valued at an estimated USD 12‑16 billion through their respective leasing entities located in Gujarat’s GIFT City. This move would nearly triple the number of commercial aircraft currently leased via the international financial services centre (IFSC).

Published on September 16, 2026