SMBC Aviation Capital becomes first aircraft leasing company to sign leases through GATS:
20 December 2019: SMBC Aviation Capital has completed the world's first operating leases through the Global Aircraft Trading System - GATS. The leases were just completed with Singapore based LCC, Scoot and Korean based airline, Air Busan. SMBC Aviation Capital anticipates to sign further GATS leases with additional airlines soon.
GATS was developed by the Aviation Working Group (AWG) by working with Fexco. It is an electronic trading platform. It was developed to create greater efficiencies and cost savings in trading processes and will make aircraft trading simpler. It is a system which will modernise aircraft trading and financing with a secure, live and searchable electronic ledger displaying details of ownership, transfers and security interests in GATS aircraft-owning trusts.
Alison Curtin, SVP Commercial Negotiation, SMBC Aviation Capital said, "We are delighted to be the first aircraft leasing company in the world to use the GATS platform to complete a number of leases with different airlines. We would like to acknowledge our airline customers for working closely with us in our implementation of GATS.
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