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Intertrust wins authorisation as GATS global trust provider
New e-platform aims to streamline trading, financing of leased aircraft equipment
5 Mar 2020 | The Asset

Trust and corporate services provider Intertrust has been authorised by the Aviation Working Group (AWG) to act as a trustee service provider for the Global Aircraft Trading System (GATS), a fully electronic platform for buying and selling aircraft engines on lease.

“We are delighted to have been authorised by AWG to provide trustee services to GATS, a ground-breaking platform that will revolutionise the trading and financing of leased aircraft equipment,” says Anne Flood, Intertrust’s head of capital markets and aviation finance, whose firm will ensure the GATS system works smoothly.

GATS, which was created by AWG to streamline the trading and financing of leased aircraft equipment, reduces the burdens on lessees, lessors and financiers by using advanced technology, a sophisticated e-platform and digitally executed standardised form documents. Set to launch on March 31, GATS will include a live and searchable electronic ledger displaying ownership details and security interests.  

The e-platform has attracted support from many of the top global lessors, which have confirmed their support for their aircraft being placed in a GATS Trustee structure. With over 12,000 aircraft currently owned by the major lessors and a further 3,526 aircraft on order, Intertrust anticipates a high level of demand for its GATS trustee services once the platform goes live. 

Intertrust is the only GATS trustee to be approved in Ireland and Singapore and the first company outside the US to be authorised. It holds over US$29 billion in aircraft assets under administration and manages over 700 aircraft special purpose vehicles across eight jurisdictions, including Ireland, Hong Kong, Singapore and the Cayman Islands.

The GATS trustee service follows Intertrust’s recent acquisition of Wells Fargo Trust Corporation in London, which includes a portfolio of security trustee roles on 48 aircraft transactions.

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