Our aviation sector should be recognized and considered as an important economic national priority area, not only from a technical, but also from a socio-economic point of view.
We must promote it as a catalyst and contributor to achieving sustainable development throughout the air transport value chain, breaking chains of poverty and lack of opportunity and delivering socio-economic benefits to our citizens while improving health, safety and benefits for consumers and customers.
Leasing of commercial aircraft was not common until the early 1990s. Prior to this, the vast majority of airlines purchased their aircraft, with only a small percentage leasing.
Leasing became an increasingly attractive option, partly due to tightening lending and increasing risks for lessors and financiers, which made it difficult or impossible for smaller operators to obtain financing to purchase aircraft.
The popularity of leasing aircraft has continued to grow over the past two decades. Today, leased aircraft make up more than 40% of the worldwide fleet.
Therefore, Trade-in services, the Cape Town Convention and good regulatory practices are increasingly important to sustainably support economic development and strategic expansion of the air transport industry.
Only by recognizing the importance of a comprehensive strategic approach to all areas, with inclusion of the aircraft leasing and financing in the air transport value-chain can we generate synergies and fully exploit the opportunities.
STAGNATION MEANS DECLINE!
Professor Patrick Honnebier, A renowned Professor of International Aviation Financing and Leasing Laws states:
ARUBA AS THE LEADING AIRCRAFT REGISTRATION ALTERNATIVE COMPARED TO ITS SCORING IN THE PILLSBURY WORLD AIRCRAFT REPOSSESSION INDEX 2023
Justin Berard, thank you for sharing the positive information in your Post below. Indeed, as an aircraft registry Aruba offers valid legal and practical advantages. For example, covering the existing situation in the United States you comment:
“Aircraft owners and operators familiar with the [FAA related] delays mentioned above have been tempted to register their aircraft in another jurisdiction, and for years the Registry of Aruba has been recognized as the leading alternative choice”.
Surely, Aruba offers the parties advantages.
Nevertheless, ‘choosing’ the leading aircraft registration not only requires that the jurisdiction provides the owners and operators with adequate regulatory-related procedures. On the contrary, an absolute requirement is that the American and other financiers and lessors will be able to REPOSSESS their aircraft when an operator defaults or is insolvent. These stakeholders must be able, inter alia, to swiftly de-register and export their aircraft from the registry which is maintained by the Department of Civil Aviation of Aruba.
Very recently the WORLD AIRCRAFT REPOSSESSION INDEX, Fourth Edition, was circulated. lodged by the law firm Pillsbury. Which analyzes the risks of financing and leasing commercial and private aircraft in 113 jurisdictions. One of these is Aruba. For each jurisdiction the Index establishes, inter alia, a ‘One-Page Summary’.
This section is based on the information submitted by “… the local law firm(s) and the person(s) / contributor(s) indicated in such summary or notes”. Thus, the contributing persons, NOT the firm Pillsbury, are responsible for the local information which they submitted.
PLEASE VIEW THE REGISTRY OF ARUBA.