Many airlines have arrangements where banks purchase the planes outright then lease them back in a long-term deal. Helps with airlines finances.

Isn’t the operator of a flight what shows up in e.g. Flightradar and also what you’d typically be most interested in, rather than the owner of the aircraft?

It's to hide the owners identity. I don't know why people are arguing with me about this. Trust's are a wealth management tool that provide a number of services including hiding a persons identity.

Look at a normal vehicle title it will say {Bank} financing division. NEVER "trust"

I was wondering the same thing