GE Aviation and Avation Plc sign Asset Transfer System agreement for leasing market

Digital Records and Project Management System Streamlines Leased Asset Documents

Le Bourget, France, June 17, 2019

GE Aviation and Avation PLC today announced an agreement to provide the AirVault Asset Transfer System across the lessor's fleet of ATR72 turboprops, A220-300, A320 and A321 narrow-body jets, Boeing 777-300ER and Airbus A330-300 twin-aisle airplanes. The implementation is starting this month, with anticipated completion this year.

"By providing the expertise to digitally manage mission-critical records across Avation's fleet, we're strengthening the focus on asset lifecycle management and aircraft transition optimization for the aviation industry," said Gib Bosworth, global lessor director for GE Aviation.

The combination of GE's domain expertise in flight analytics and engine diagnostics to bring disparate data together and the digital leased asset transfer system capability will further enable web-based fleet maintenance across the aviation leasing market.

Jeff Chatfield, executive chairman of Avation PLC said, "Avation is pleased to have selected the GE Aviation Air Vault Asset Transfer System to store and manage our fleet's aircraft records. Avation went through an extensive evaluation and comparison process to select a platform."

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 which includes SPEC 2500 functionality.

Bosworth added, "The ability to connect records and data across the global aviation community with the IT systems they use to manage their fleet will improve data availability and increase productivity."