A&L Goodbody (ALG) is delighted to support GECAS with its migration of 40 aircraft-owning trusts onto the Global Aircraft Trading System (GATS).
The portfolio of aircraft comprising a mix of Airbus A320 and A321 aircraft along with Boeing 737-MAX and 787-9s were migrated onto the GATS platform in December.
David Berkery, ALG partner in Aviation & Transportation Finance commented: "GATS is the biggest initiative aircraft leasing and financing has seen in years and it's extremely exciting to see the platform take-off in such a material way. It's fitting that GECAS, as one of the biggest proponents of GATS since the inception of the initiative, should be the responsible for the largest migration to-date. This has been an enormous endorsement of the platform by one of the world's leading aircraft lessors and a very positive step to close-out 2020".
John Ludden, General Counsel of GECAS commented that: “GECAS is very appreciative of the support and professionalism demonstrated by A&L Goodbody in their advice and assistance enabling us to execute on the migration of 40 Irish aircraft-owning trusts onto the GATS platform”.
John noted that having previously placed aircraft in Irish trust structures, GECAS is availing of the GATS platform to migrate such trusts onto the platform to ensure that GECAS will be at the forefront in supporting this AWG initiative which seeks to transform aircraft trading for the benefit of all participants. He also commented that “as aviation is an industry that’s critical to infrastructure, GECAS maintains a long-term positive outlook and remains confident the industry will recover. As one of the world’s leading aircraft lessors, it is important to prepare for when the aircraft trading market returns. Adopting this latest technology, namely, the GATS platform, will ensure future aircraft trading occurs in an efficient, cost-effective manner with minimum disruption to the airline customer”.