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Take-off for aircraft registry

Take-off for aircraft registry

Wednesday 11 November 2015

Take-off for aircraft registry

Wednesday 11 November 2015

The Island's first aircraft registry has been launched after the legislation creating it became law last week.

The Jersey Aircraft Registry (JAR), which will focus on registering new or nearly new high-value private and corporate aircraft, has already registered its first aircraft.

Prior to going live, the JAR received a number of enquiries from potential clients, and the first confirmed aircraft, a new private jet of significant value, was registered last week.

Economic Development Minister Lyndon Farnham said: “This new registry will be a fantastic opportunity for the Island. We have created the Jersey Aircraft Registry for local service providers to register aircraft, aircraft mortgages and, uniquely, commercial aircraft engine mortgages for clients. This will enable local businesses to broaden their offerings, which already includes the registration of companies, ships and other security interests.

"Revenue will be created through the fees charged by the Registry, and we hope to see new jobs created in financial, fiduciary and legal services. There is also a longer-term goal of creating roles in technical positions, as we see maintenance and management organisations relocating to Jersey.”

Geoff Cook, CEO of Jersey Finance, said: “It is always encouraging to see new and exciting opportunities being created for the Island’s finance, fiduciary and legal services. The Jersey Aircraft Registry will certainly add to the island’s overall offering.”

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