The International Civil Aviation Organization’s new Internet-based international aviation asset registry is set to become operational today, with database management specialist Aviareto already claiming 120 advance registrations.
Born from the Cape Town Convention, which governs ownership claims on mobile assets, the registry will provide a clear record of parties which have a financial claim over airframes, helicopters and engines. It is expected to save the airline industry billions of dollars annually by reducing lending risk.
Under the auspices of ICAO, the section of the treaty relating to aircraft equipment comes into force today, finally enabling the launch of the registry. The registry is being overseen by Aviareto, an 80:20 joint venture between technology specialist SITA and the Irish government.
Speaking at a press event in Dublin to mark the launch of the registry, SITA chief executive and director general Hans-Peter Kohlhammer said: “Until now there has been no central database that would provide details on who has a claim [to an asset].â€
The asset database is hosted by the Internet domain internationalregistry.aero and, together with its helpdesk, will be operational at all times.
Aircraft data on the registry is sourced from the manufacturers and is listed by manufacturer’s serial number (MSN). To list an interest in an asset, all parties must give their consent within 36h through an e-mail notification system before the final, full ownership registration can be posted.
Flight Global
Born from the Cape Town Convention, which governs ownership claims on mobile assets, the registry will provide a clear record of parties which have a financial claim over airframes, helicopters and engines. It is expected to save the airline industry billions of dollars annually by reducing lending risk.
Under the auspices of ICAO, the section of the treaty relating to aircraft equipment comes into force today, finally enabling the launch of the registry. The registry is being overseen by Aviareto, an 80:20 joint venture between technology specialist SITA and the Irish government.
Speaking at a press event in Dublin to mark the launch of the registry, SITA chief executive and director general Hans-Peter Kohlhammer said: “Until now there has been no central database that would provide details on who has a claim [to an asset].â€
The asset database is hosted by the Internet domain internationalregistry.aero and, together with its helpdesk, will be operational at all times.
Aircraft data on the registry is sourced from the manufacturers and is listed by manufacturer’s serial number (MSN). To list an interest in an asset, all parties must give their consent within 36h through an e-mail notification system before the final, full ownership registration can be posted.
Flight Global
