BBAM and GE Aviation Sign Asset Transfer System Agreement for Leasing Market
November 04 2019 - 8:18AM
Business Wire
Leased Asset Documents Streamlined with Digital
Records and Project Management System
GE Aviation has teamed up with BBAM Aircraft Leasing &
Management to provide the AirVault Asset Transfer System across a
fleet of 510 aircraft including Airbus, Boeing and Embraer
airplanes used by more than 90 airlines. The implementation is
starting this month.
“We are thrilled to partner with the BBAM organization to help
facilitate their mission-critical technical records coupled with
enhancing their ability to strengthen their asset lifecycle
management for aircraft transition optimization,” said Gib
Bosworth, global lessor director for GE Aviation.
BBAM will start using the system by December 2019, followed by a
six-month evaluation. 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.
“We selected the AirVault Asset Transfer System to help achieve
efficiencies in aircraft transitions by automating and digitizing
critical processes,” said Declan Cotter, Head of Technical
Operations at BBAM. “We also see the potential for benefits in
project management and project communication between all parties
during the transition phases.”
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.”
About BBAM
BBAM is the world's largest dedicated manager of investments in
leased commercial jet aircraft providing over 200 airline customers
in more than 50 countries with fleet and financing solutions over
the last three decades. BBAM is the only manager in the aircraft
leasing industry focused exclusively on generating investment
returns for third-party investors. BBAM currently has more than US
$27 billion of assets under management and employs over 150
professionals at its headquarters in San Francisco and in
additional offices in New York, London, Tokyo, Singapore, Zurich,
Dublin, and Santiago. BBAM has a 30-year partnership with NBB
providing origination, management and remarketing for over 2,000
investors. For more information about BBAM, visit www.bbam.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 solutions 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.
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Jennifer Villarreal +1 616 241 8643
jennifer.villarreal3@ge.com
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