Wilmington Trust has announced it has been cleared as a trustee in the US and Ireland for the newly launched Aviation Working Group´s (AWG) electronic Global Aircraft Trading System (GATS) platform, the company said.
The GATS online platform was designed to modernize aircraft equipment trading and financing, eliminating the need for hard copy trust documents and facilitating lease transfer. GATS facilitates electronic trading of aircraft through the use of Owner Trusts.
Wilmington Trust has a track record in the aircraft financing space, with 45 years of experience in the US and 12 years in Ireland. As the first provider of aircraft Irish Owner Trust services, where it holds approximately 900 aircraft, the firm has a wide range of experience and is a trusted name in the jurisdiction.
GATS is a fully electronic system, using e-signatures, e-delivery of documents, and use of a secure e-ledger to record transactions.
Wilmington Trust, N.A. provides Corporate and Institutional Services including institutional trust, agency, asset management, retirement plan, agency, asset management, and administrative services for clients worldwide who use capital markets financing structures. Wilmington Trust provides direct trust, custody, and fiduciary services for retirement plans, companies, foundations, organizations and financial institutions.
Wilmington Trust also provides Wealth Advisory services with a wide array of personal trust, financial planning, fiduciary, asset management, and family office solutions designed to help high-net-worth individuals and families grow, preserve, and transfer wealth.
Wilmington Trust maintains offices throughout the United States and internationally in London, Paris, Dublin, and Frankfurt. For more information, visit www.WilmingtonTrust.com.