Jain (Deemed-to-be University)’s CMS Business School and Acumen Technical Advisory Pvt. Ltd, (trading as Acumen Aviation) has signed a Memorandum of Understanding on Research and Training in Aircraft Leasing and Financing.
The MoU was signed by Dr. Dinesh Nilkant, Director, CMS Business School, Jain (Deemed-to-be University) and Mr. Alok Anand, Chairman & CEO- Acumen Aviation. This Memorandum is a form of mutual commitment in complimenting each other’s expertise in the field of Education, Aircraft Leasing, Aircraft Financing, and Aviation Management.
Indian Aviation is the fastest-growing sector in the world, with a share of lease Aircraft being close to 85% to 90%. Currently, foreign financiers and lessors are the biggest beneficiaries of India’s growing pie. Hence, it is vital to develop the Aircraft leasing & financing business in India and make the country the global financial capital for international financial services.
The Ministry of Finance, through the Official Gazette notification on 16-10-2020, stated that Aircraft and Component leasing to be included under the IFSC Authority Act, 2019 this will lead to the aircraft leasing business shifting to India. It would create additional high-end job opportunities in India not only through aircraft leasing & financing but ancillary jobs in legal, accounting, etc. There is a huge demand for professionals in this domain but there are no Institutes who can provide the necessary knowledge and skill set to facilitate the growth of the aircraft leasing sector in India.
This MoU has already facilitated various Joint-Certificate programs in the areas of Aircraft Asset Management, Leasing and Financing, Records Management, and Mid-term lease inspection. Further, this partnership will give rise to the Diploma Program in Aircraft Leasing & Financing and various other related certificate programs shortly.
This collaboration and co-operation will promote more effective use of the resources and expertise and provide the students with enhanced opportunities.
This MoU makes Jain (Deemed-to-be University) the first educational institution in the country to support and implement the skill development and atmanirbhar in this niche area of Aircraft Financing.