HISTORY OF AWG
In 1994, the International Institute for the Unification of Private Law (UNIDROIT), requested the formation, by Airbus and Boeing, of an ad hoc international industry group to provide detailed, coordinated input to assist UNIDROIT in the development of an international treaty on the financing and leasing of mobile equipment that would come to be known as the Cape Town Convention (CTC). In response to that request, Airbus and Boeing agreed to form AWG. They jointly invited others into this grouping. The initial and subsequent invitees were major manufacturers, financial institutions, and leasing companies. Since that time, AWG’s scope of activity and membership has expanded significantly. It now addresses a wide range of topics affecting international aviation financing and leasing.
AWG’s Role in Developing the Cape Town Convention
Prior to 2000, AWG limited its activities to contributing to and advancing CTC. It developed and submitted to UNIDROIT major papers and studies that helped shape the fundamental thinking on, and objectives and terms of, CTC. In that effort, which it undertook in close cooperation with the IATA, AWG was guided by the basic principle that the treaty must reflect asset-based financing and leasing principles and facilitate extensions of aviation credit.
Adoption of the cape town convention
The Convention on International Interests in Mobile Equipment and Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment (Aircraft Protocol) were adopted on 16 November 2001. The final texts of the Cape Town Convention and of its Aircraft Protocol can be found at the depositary’s -UNIDROIT – official website.
AWG’s Role in Developing the Cape Town Convention
Prior to 2000, AWG limited its activities to contributing to and advancing CTC. It developed and submitted to UNIDROIT major papers and studies that helped shape the fundamental thinking on, and objectives and terms of, CTC. In that effort, which it undertook in close cooperation with the IATA, AWG was guided by the basic principle that the treaty must reflect asset-based financing and leasing principles and facilitate extensions of aviation credit.
Adoption of the cape town convention
The Convention on International Interests in Mobile Equipment and Protocol to the Convention on International Interests in Mobile Equipment on Matters specific to Aircraft Equipment (Aircraft Protocol) were adopted on 16 November 2001. The final texts of the Cape Town Convention and of its Aircraft Protocol can be found at the depositary’s -UNIDROIT – official website.