Aircraft Trust & Financing Corporation

Aircraft Trust & Financing Corporation is based in Wilmington, Delaware. Its website says it provides services to the aviation community, either through lending secured by an aircraft or by acting as a qualified aircraft registrant for select persons and entities. Its president is Jonathan O'Farrill.

Why a trust is used

US law (49 U.S.C. 44102 and 14 C.F.R. 47.2) restricts who may register an aircraft with the FAA. Owners who do not qualify, for example some partnerships or non-citizen companies, can use a trust so that a qualifying US trustee holds the registration.

Services

• Owner trust: the trustor transfers legal title to Aircraft Trust & Financing Corporation, which qualifies as a US citizen and holds title for the benefit of the trustor. The trustor can be an individual, corporation, partnership or limited liability company, US or non-US. The agreement is filed with the FAA Registry and is a public document.
• Voting trust: the company holds at least 75 percent of the shares of a US aircraft-owning corporation or LLC that does not otherwise qualify as a US citizen. The owner must still provide US citizens for the president and the required share of officers and directors.
• Guidance for partnerships that do not qualify as US citizens
• Lending secured by aircraft

Company facts

• Based in Wilmington, Delaware
• Online payment page for clients