Acumen Aviation Leasing inks Letter of Intent for aircraft lease agreement with Spirit Air LLP of India

Acumen Aviation Leasing IFSC PVT. Ltd has announced the formalisation of a Letter of Intent (LOI) for an aircraft lease agreement with Spirit Air LLP, an Indian domestic commuter airline and Flight Training Organisation (FTO). The agreement involves leasing multiple aircraft and simulators to Spirit Air’s FTO, contingent upon regulatory approvals.

The initial closing is expected in the current quarter of 2024, with plans for gradual expansion and the introduction of additional aircraft over time.

Acumen’s Chairman and CEO, Alok Anand, highlighted the opportunity to leverage their extensive experience in asset management for the acquisition of aircraft, and Capt. Subodh K Verma, Founder and Partner of Spirit Air, expressed commitment to enhancing the flying experience and connecting smaller locations to major hubs.

The collaboration is seen as a long-term partnership rooted in shared values and mutual goals.