IndiGo to set up a subsidiary for aviation asset financing in Gujarat's GIFT city

India's aviation giant IndiGo said it will invest up to Rs 30 crore to set up subsidiary for financing aviation assets.

The new wholly-owned subsidiary, which is yet to be incorporated, will be established in Gujarat's GIFT City.

There will be approvals required from the Reserve Bank of India (RBI) for an investment in the wholly-owned subsidiary.

Tata's Air India was the first Indian airline to set up a aviation leasing unit at IFSC Gift City in Gujarat.