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Ishka Article

Fri, August 09 2019

This investor guide looks at one of the main paper-heavy touchpoints on the road to digitalisation: aircraft records.Ishka examines the recent history of engine-backed securitisations.Author: Eduardo Mariz

In this investor guide, Ishka looks at aircraft record digitalisation and how it will reshape aircraft trading in the next few years. This report looks beyond the Global Aircraft Trading System (GATS), which is due to enter operation next year, and looks at the next paper-heavy touchpoint on the road to digitalisation: aircraft records.Going digital is a priority for most industries, but particularly so in aviation. The cost of transferring paper records for a single aircraft transaction is roughly $120,000, according to a “conservative” estimate by aircraft lessor GECAS. With 4,000 to 4,500 aircraft transitions globally every year, the cost on the industry approaches –or even exceeds –a half a billion dollars.For many in the aircraft finance and leasing industry, the “dream” is to trade assets electronically, says Jim Bell, a partner at Watson Farley & Williams, while also preserving the protections and controls that the airline typically enjoys under its lease transfer provisions. Providing the necessary documents in the traditional lease novation process is one of the most costly and time-consuming steps in any transaction for both the lessor and the airline.

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