Our Projects:
Recent Developments:
AWG has commenced the process of pre-clearing trust companies to act as trustees on the Global Aircraft Trading System
(GATS) electronic platform. To see a list of pre-cleared trust companies for GATS and further details, please click
here.
AWG updates the draft methodology for the CTC compliance index, which remains under development and can be accessed
here. The index is scheduled for inaugural release in February 2020.
AWG will hold the following information
sessions on GATS: i) Dublin (17 September
2019), ii) New York (17
October 2019),
and iii) Hong Kong (5
November 2019). Details for each of the events are attached.
AWG, in association with the Brazilian National Civil Aviation Agency (ANAC) and
supported by ICAO and UNIDROIT, held a
major Latin
American Regional Event on the Cape Town Convention and its Aircraft Protocol
and cross-border
transferability of aircraft (XBT) on 25 & 26 June 2019 in Brasilia, Brazil.
A press
release is attached. Please find
additional information on, and images from, the event on the ANAC
website.
AWG makes draft transitional forms
of GATS documents available for use by the industry. AWG has advanced the
use of
forms for Utah common law trusts in light of the resignation of Wells Fargo Trust
Company, N.A.
from many aircraft owning trusts. Using these GATS transitional forms as the basis
for new
documents for the affected trusts will enable such trusts to efficiently transition
on to the GATS
electronic platform when the platform is launched.
AWG releases draft instruments to be used in the Global Aircraft Trading System
(GATS), an
online platform designed to make the buying and selling of aircraft and engines on
lease simpler
and faster, to reduce the burden on airlines, lessors and financiers, and to produce
widespread
benefits for the industry. Comments on these exposure drafts are requested by the
end of June
2019. In July 2019, the transition period will commence with the publication of
finalized transition
period standard form GATS instruments. The GATS platform for electronic trading will
launch by
the end of the first quarter of 2020. See GATS page for
further information and documents.
AWG and FEXCO to collaborate on electronic platform for the Global Aircraft Trading
System (GATS), developed by AWG. See press release.
AWG to establish a global, electronic aircraft trading system (GATS) to make the
buying and selling of aircraft and
engines on lease simpler and faster. GATS is designed to reduce the burden on
airlines, lessors and financiers and to
produce widespread benefits for the industry. See attached
summary, including on timing.
AWG to develop Cape Town Convention compliance index (CTC compliance index) for
release targeted no later than Q4 of 2019. There will be a public summary version
and a more detailed version with explanations for AWG members, governments, and
select others. The CTC
compliance index will take into account, among other factors,
implementation, precedent and analysis thereof, and systems in the country designed
to facilitate and maximize compliance with the treaty.
AWG releases short-form model IDERA
regulations for consideration by countries that have made a declaration to
apply article XII of the aircraft protocol to the Cape Town Convention.
AWG, in association with the South African Civil Aviation Authority (SACAA) and
supported by ICAO and UNIDROIT, held an African Regional Event on the Cape
Town Convention and its Aircraft Protocol and cross-border transferability of
aircraft (XBT) on 19 & 20 June 2018 in Cape Town, South Africa. Event
materials, and the press release by SACAA relating to it, can be found here.
AWG releases template
lease novation (English law) and assignment and
assumption (New York law) documents to facilitate the aircraft trading and
transfer process. As noted in a guiding
principles document, these templates are designed to (1) have minimal impact
on aircraft lessees, (2) not to increase an airline's obligations, and (3) be
equally acceptable to buyers and sellers of aircraft subject to existing leases.
AWG releases the revised Form
of Cape Town Convention Closing Opinion, as of January 2018
AWG releases document for the Basel committee on the unique features and
data supporting low LGDs for aircraft-backed loans.
