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GE eyes Indian aviation deals
By siliconindia staff writer
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Friday, 17 September 2004, 19:30 IST
NEW DELHI: GE Commercial Aviation Services which is the worldÂ’s largest aircraft financier and lessor is bullish on the Indian aviation sector, reports an Indian daily.
GECAS — which owns around 1,200 commercial aircraft, manages 300 more for investors and has given out a further 300 odd aircraft on lend and lease — also owns a battery of corporate jets.
GECAS executive vice president Norman Liu told an Indian daily, Hindustan Times: “In India we have a total of $240 million in aviation assets and the upside is huge. With the traffic potential enormous, only 15 million fly presently.
India has approximately 120-130 aircraft while China has 600. Our business here could grow in multiples of $240 million. We see the number of aircraft doubling from 120, but continued easing of regulatory policy is needed.”
Anil Chawla, chief executive officer of GE Commercial Finance-India and Southeast Asia, added: “Look at what is happening around us. The no-frills carrier growth story has not been tapped yet. We are already doing Air Asia in Malaysia and Gol in Brazil. We are in a dialogue with Kingfisher Air for their first four leases.”
Liu thinks that the management team and capital structure are two prerequisites for start ups. Chawla explained that the due diligence is on for MallyaÂ’s Kingfisher which has ordered A320s.