TBM Staff - Mumbai The Small Industries Development Bank of India (SIDBI) forayed into the financing of rotary wing aircraft after signing a Memorandum of Understanding (MoU) with Airbus Helicopters for financing the purchase of the latter’s helicopters in India.
The MoU was signed by Rahul Priyadarshi, Chief General Manager, SIDBI and Sunny Guglani, Head of Airbus Helicopters, India and South Asia.
Under the MoU, both Airbus Helicopters and SIDBI will identify potential civil helicopter operators in India interested in opting for financing while purchasing Airbus helicopters. Airbus will provide the technical and helicopter industry knowledge to SIDBI, which will evaluate these prospects and finance them exclusively for Airbus, reports Business Today.
Rahul Priyadarshi, Chief General Manager, SIDBI, said, “This a new area for financing to helicopter operators by SIDBI and is expected to open new avenues for financing MSMEs related to this segment.”
This collaboration marks the foray of SIDBI into helicopter financing and meeting the financial and development needs of the country’s fast-growing rotary wing sector.
“The MoU with SIDBI opens a new chapter in making civil helicopters more accessible to operators in India, which will further position these rotary wing aircraft as a critical tool for nation building. Combining our unmatched product portfolio and industry expertise with SIDBI’s attractive financing solutions will play a pivotal role in the expansion of the civil helicopter market in India,” said Sunny Guglani, Head of Airbus Helicopters, India and South Asia.
The majority of helicopters used in India are manufactured by foreign manufacturers. The fleet of Pawan Hans Ltd comprise primarily of Airbus Helicopters. In 2019, Airbus helicopters had the highest market share across the globe. Apart from this, Bell was another major manufacturer that had a considerable market presence.
Hindustan Aeronautics Limited (HAL) is the only Indian manufacturer to produce fixed wing aircraft in the country and have a small presence within the civil helicopter industry.
