International Registry

Background

The International Registry of Mobile Assets is the system through which the priority of interests in airframes, aircraft engines and helicopters is established. Operating under the legal framework of the Cape Town Convention and Aircraft Protocol (adopted at Cape Town, 16 November 2001), it records international interests on a First-to-File basis, recognised by all ratifying states. Aviareto operates the Registry as Registrar, appointed by ICAO as the Supervisory Authority.

The Registry allows individuals and organisations to register financial interests in assets using:

The registration serves as a notification mechanism to the User community and is best practice for owners and agents to protect their financial interest.

The Convention also sets out default remedies for creditors, including in the context of the insolvency of a debtor. The Convention seeks to reduce credit risk for lenders financing aircraft objects, and through that to lower the cost of credit and improve its availability across the industry.

The Cape Town Convention also delivers economic benefits. Operators based in a Contracting State that has made certain ‘qualifying declarations’ are eligible for a discount on the premium rate offered to Export Credit Agencies under the OECD Aircraft Sector Understanding 2011. Transactions financed through the Capital Markets are likely to attract a lower interest rate where these qualifying declarations have been made and fully implemented.

For a full description of the legal protections provided by the Convention, please refer to the text of the Cape Town Convention and the Aircraft Protocol and Prof. Sir Roy Goode’s Official Commentary, available from UNIDROIT. Further information and studies on the economic benefits of ratifying the Convention and Protocol are available from the Aviation Working Group.

Aviareto’s role

As part of the implementation of the Cape Town Convention, the Secretary General of ICAO issued a global tender in January 2004 for an organisation to establish the International Registry and act as the Registrar. Aviareto, based in Dublin, Ireland, was selected. The Registry operates on a not-for-profit, cost-recovery basis, as the Convention requires.

Aviareto operates the Registry under the Convention and Protocol, in accordance with the Regulations and Procedures, and to best practice in electronic registry design and operation.

The company’s purpose is to support the effectiveness of the Convention and Protocol in close collaboration with the industry it serves. Continuous investment in the system, in process improvements and in the team’s expertise sustains that work.

A global user base

The International Registry serves the global aviation finance industry. Its users include aircraft owners, lessors, lessees, lenders and the legal advisors who act on their behalf. They register and search against interests in airframes, aircraft engines and helicopters to establish and verify ownership and priority.

To date more than 90 countries have ratified or acceded to the Convention.

Note: This map is intended for illustrative purposes only. Aviareto does not endorse or formally recognise the boundaries, names or designations shown, and technical constraints may mean the map does not fully or precisely represent where the Convention applies.

Accessing the International Registry

Entities (organisations and individuals) seeking to register interests in aircraft assets must first apply to the International Registry to become an Approved Administrator. Each entity must designate one Administrator.

Registry Officials review and assess applications. Once approved, the Administrator can register interests in aircraft assets and approve additional users within their entity.

Help and Guidance

What is the Practitioners’ Guide?

The Practitioners’ Guide to the Cape Town Convention and its Aircraft Protocol, is a reference manual prepared by the Aviation Working Group Legal Advisory Panel. It is designed to help users understand and navigate the complexities of the Convention.

When does the Cape Town Convention apply?

The Cape Town Convention applies to your transaction if:

The Aircraft is registered in a Contracting State (Except for engines), or
The Debtor is situated in a Contracting State

The Debtor is situated in a Contracting State when it:

is incorporated or formed in a Contracting State
has its registered office or statutory seat in a Contracting State
has its centre of administration in a Contracting State

Please note that the above explanation is a very simple treatment of a very complex area and you should do further research. There are other requirements such as the agreement must be in writing, etc.

Searches can be performed on the Register, without an account, as a Guest. To register an interest or consent to a registration, you must apply to become an approved user of the Registry.

What aircraft objects are covered?

The categories of object eligible for registration are airframes, helicopters and aircraft engines. The Aircraft Protocol sets out detailed definitions of each category.

Which manufacturers have provided data to the International Registry?

Participating manufacturers supply information about their products to Aviareto on a voluntary basis, subject to the manufacturers’ disclaimer. The following manufacturers have supplied information:

Airbus

Airbus Defence And Space

Airbus Helicopters

Antonov

ATR

BAE Systems

Beech Aircraft Corporation

Beechcraft Corporation

Beechcraft-Hawker Corporation

Bell Helicopter

Bell Textron

Boeing

Bombardier

British Aerospace

C Series Aircraft

Canadair

Cessna

CFE

CFM

Comac

Dassault Aviation

De Havilland

Embraer

Eurocopter

Fokker

GE Honda Aero Engines

Gulfstream

Hawker Beechcraft Corporation

Hawker Siddeley

Honda Aircraft Company

Honeywell

Hughes Helicopters

International Aero Engines

LLC

Israel Aircraft Industries

Kodiak Aircraft

Learjet

Lockheed Martin

McDonnell Douglas

McDonnell Douglas Helicopter

MD Helicopters

Mitsubishi

Pacific Aerospace Limited

Piaggio Aero Industries

Pilatus Aircraft Ltd

Powerjet

Pratt & Whitney

Pratt & Whitney Canada

Quest Aircraft

Raytheon Aircraft Company

Raytheon Corporate Jets Inc.

Rolls Royce

Sikorsky

Sukhoi

Textron Aviation Inc.

Viking Air Ltd

Williams International Co LLC

Yabora