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Since the introduction of Guernsey’s aircraft registry, the 2-Reg, in 2013, aircraft financing continues to grow in popularity in the island, according to offshore law firm Carey Olsen.
Guernsey has become a highly-regarded jurisdiction for aircraft finance alongside other domiciles such as Cayman and the BVI due to its tax-efficient nature, which has been endorsed by the increased volume of transactions.
Following the law firm’s involvement with the first registration of an Airbus A319 on the 2-Reg as the legal adviser to a major international aircraft leasing and finance business, Carey Olsen's corporate team in Guernsey has since advised on a variety of aircraft financing deals.
Most recently the firm has advised subsidiaries of Amedeo Air Four Plus Limited, a leading aircraft leasing and investment company, in relation to debt finance facilities.
The funds were used to acquire four Airbus A380 aircraft, all of which have been leased to Emirates Airline for an initial term of 12 years with fixed lease rentals for the duration.
Partner Ben Morgan and senior associate John Scanlan led the Carey Olsen team advising on the Guernsey aspects of the transactions.
Advocate Morgan said: “Carey Olsen’s increasing involvement in aircraft financing and structuring complements the continuing success of the 2-Reg which offers a flexible and competitive process for the registration of aircraft assets. This allows aircraft owners to benefit from Guernsey's strength and stability as a well-regulated, international finance centre. Our corporate practice has continued to diversify and expand its portfolio with the emergence of markets such as these.
“With the launch of Jersey’s own aircraft registry, (JAR), in November last year, we expect that our experience in Guernsey, as well as our work in Cayman and the BVI, will give clients access to unrivalled depth and expertise in aircraft financing across all of our jurisdictions.”
