Global Aircraft Trading System (GATS)™
GATS is a voluntary system, open to all industry players.
In recent years, as the number of trades has significantly increased, inefficiencies have developed which have resulted in wasted time and resources for airlines, lessors and financiers alike. GATS reduces the burdens on lessees, lessors, and financiers while also promoting aircraft equipment trading and financing in an efficient, secure and predictable manner.
GATS will increase the transparency of and confidence in aircraft trading. It will further protect rights by introducing a secure, live and searchable electronic ledger displaying details of ownership and security interests in GATS.
The rights of lessees will be protected by prohibiting transfers unless agreed conditions in favour of the lessee have been satisfied or waived. GATS will further reinforce ‘no increased obligations’ lease provisions in favour of lessees.