ORIX Aviation and GE Aviation Sign Asset Transfer System Agreement for Leasing Market
Digital Records and Project Management System improves data availability and increases productivity
Austin, TX – GE Aviation has teamed up with ORIX Aviation to provide the Asset Transfer System (ATS) to enable ORIX Aviation to connect records and data across the global aviation community. Their trial service is expected to start this month.
"We are eager to partner with ORIX Aviation as their fleet evolves to meet their airline customer needs,” said Gib Bosworth, global lessor director for GE Aviation. “We’re collaborating to optimize aircraft transitions with our industry-leading project management functionality to enhance their ability to strengthen their technical records management.”
“We are excited to trial GE Aviation’s ATS during our forthcoming aircraft transition projects,” said Mike MacConnie, ORIX Aviation’s Chief Technical Officer. “It is critical that our industry moves toward digital aircraft records transfer and management in an effort to reduce overall transition costs and delays, while, at the same time, improve quality and airworthiness standards.”
The Asset Transfer System is a collaborative tool that streamlines and simplifies the way that leased asset documentation is managed between airlines and lessors by allowing operators to organize records in accordance with industry standard. The system enhances the efficiency of lease returns several ways by helping operators harmonize and standardize files, perform collaborative document reviews with their lessor partners, and transfer files through an intuitive digital user interface.
GE’s asset transfer system includes records management, project management, as well as capability to integrate with other external asset or contract management systems. Users can upload electronic documents directly into the system to organize, view, search, retrieve, download and transfer documents digitally via a web-based browser. The system supports records requirement completion by linking the project management functionality to a digital records repository that is compliant with EASA and FAA records retention and audit requirements.
About ORIX Aviation Systems
ORIX Aviation was established in 1991 in Dublin, Ireland and is a 100% subsidiary of ORIX Corporation of Japan. ORIX Aviation owns and manages over 230 aircraft, leasing them to more than 60 airlines located in over 30 countries. With headquarters in Dublin and teams in Hong Kong and Tokyo, ORIX Aviation has 128 specialists and USD9 billion of aircraft assets under management. In 2019, ORIX Aviation bought, sold or leased over 80 aircraft valued in excess of USD4 billion.
ORIX Aviation is focused primarily on investing and trading opportunities in the aircraft leasing and aircraft asset management space, while maintaining a strong balance sheet of owned assets to support stable long-term profits and future growth. ORIX Aviation is the only S&P ranked aircraft lease servicer in the industry, with a STRONG overall ranking and a stable outlook. The asset management clients of ORIX Aviation are investors based in Japan, US funds and international banks and financial investors. For more information visit www.orixaviation.com.
About GE Aviation
GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of commercial and military jet engines, and avionics, digital and electrical power systems for aircraft. GE is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.geaviation.com/digital. Twitter @GEAviation
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