The Maples Group is now providing Irish owner trustee services in respect of aircraft assets.
Owner trust structures offer a number of distinct advantages to the transaction parties, most notably ease of trading compared to a typical novation transfer (with associated time and costs savings) and facilitation of aircraft registration in certain jurisdictions. As aviation industry participants become more familiar with the use of trusts, and aircraft trading volumes continue to grow as leased aircraft constitute a greater percentage of the global fleet, the use of owner trust structures in aviation deals is expected to become increasingly prevalent, says Maples.
The Maples Group's owner trustee service enables an aircraft owner to transfer legal title in an aircraft or aircraft related asset to a professional trustee, while continuing to retain beneficial ownership in the asset.
"The provision of Irish owner trustee services, and the specific ability to act in this trustee capacity, is a natural complement to the Maples Group's comprehensive fiduciary and legal services offering," said Stephen O'Donnell, Regional Head of Fiduciary – Europe. "Across the Group, we frequently support our clients with respect to transactions involving trusts and this enhancement to our offering ensures we remain best-positioned to continue delivering the solutions required to meet their needs.