Watson Farley & Williams (“WFW”) is delighted to announce the official relaunch and expansion of its highly regarded online interactive legal analytics tool the Global Aviation Resource Index (“GARI”), which allows users to compare data and scores for aviation restructuring procedures, aircraft repossession rights and aircraft deregistration rights in 100+ jurisdictions.
First launched in October 2021, GARI was originally conceived as a comparative index of over 55 restructuring procedures available in 30 key aviation jurisdictions in response to the impact of the Covid-19 pandemic, which saw airlines across the globe entering into insolvency and restructuring proceedings. GARI’s innovation and impact on the aviation industry was acknowledged with its recognition as a ‘Standout’ in the ‘Digital Legal Services’ category at the Financial Times Innovative Lawyers Europe 2022 awards.
In addition to more than tripling the number of jurisdictions it originally covered, GARI has also expanded to now include repossession and deregistration data and scores for each of these jurisdictions, all of which can be easily compared at an initial high-level view and further broken down for deeper analysis. An invaluable resource for numerous aviation sector participants, including financiers, lessors and airlines, GARI users can now easily compare procedures across multiple jurisdictions to assist with the planning of new aircraft finance and leasing transactions, auditing jurisdictional risk, dealing with specific fact patterns for aircraft disputes and repossessions, and analysing actual or potential restructuring procedures worldwide. We have made available GARI’s data and scores to clients for inclusion in their own financing and leasing risk models, and can make available to other clients on request.
WFW Global Aviation Sector Co-Head Jim Bell, one of GARI’s key developers, commented: “The updated GARI will be the principal tool for the immediate consideration of any aircraft and engine repossession and restructuring matters, and in the planning of new aircraft and engine finance and leasing transactions, because it will provide a ‘mix and match’ overview of repossession, deregistration and restructuring data and scoring in relation to the relevant jurisdictions that can be combined within a single view”.
London Aviation Partner and GARI editor Dominic Pearson added: “We are incredibly proud of this truly innovative online resource, which will be freely available to everyone. GARI is unlike anything that has been created before and will play a vital role in assessing jurisdictional risk to accommodate any given fact pattern in a fully customisable manner”.
GARI would not have been possible without the 76 contributing law firms that dedicated their time and efforts to provide us with the invaluable data from their individual jurisdictions. For the full list of the contributing law firms, please see here.
Try GARI here.
