The Isle of Man Aircraft Registry is today celebrating its first anniversary having registered more than 50 aircraft since its launch on 1st May 2007.

Unlike most other registries, where both private and commercially operated aircraft are accepted, the Isle of Man’s register is focussed solely on high quality private and corporate aircraft. This is supported by the Island’s well established banking sector experienced in financing aircraft, lawyers familiar with aviation law, insurance companies which can provide cover without the addition of an insurance premium tax and corporate service providers experienced in structuring companies to take advantage of the Island’s beneficial tax regime. Now the Aircraft Registry is so well established, the Isle of Man has become widely regarded as a one-stop shop for worldwide aviation business.

Since 9/11 there has been a huge growth in sales of private and corporate business jets. In 2007 worldwide annual sales of new jets exceeded 1000 aircraft for the first time and order books for certain models are full for some years to come. Corporate aviation is increasingly providing the business community with a cost effective and time saving alternative to commercial travel with its reputation for delayed flights and security queues.

The Aircraft Registry’s target aircraft are professionally-flown new corporate jets for international blue-chip companies which will find that conducting business on the Isle of Man is a friendly, efficient experience. For many, registering their aircraft will mark the start of a long business relationship. The quality of the companies attracted to the Register in its first year of operation is very impressive and includes world leading manufacturers. Indeed one of the world’s largest business jet manufacturers has recently registered its own company aircraft.

Unlike some other registers, M prefix registrations can be transferred between aircraft. International financier Jim Mellon registered the very first aircraft as M-ELON. This has since been joined by M-AGIC and M-YSKY and another forthcoming addition to the Register is M-RBIG.

Hon David Cretney MHK, Minister for Trade and Industry said:

“Our original estimate was that a combination of up to 12 corporate jets and helicopters might be registered in the first year but we have now registered no less than 51 aircraft. The number is all the more impressive when you consider that we have turned down a similar number of aircraft, including historic war planes and light aircraft, which did not meet our business plan. The register has proved to be a huge success.”

Capt. Brian E Johnson, the Island’s first Director of Civil Aviation, said:

“The launch of the Aircraft Registry could not have been better timed to benefit from the growth in private aviation. The registration process itself is very straightforward and, like the successful Isle of Man Super Yacht register, is cost neutral and not a ‘flag of convenience’. We provide a friendly customer focused service with a highly competitive scheme of charges not usually found in Government registers.”

The Minister concluded by saying: “We can be immensely proud of the achievements demonstrated by the Isle of Man Aircraft Registry in its first year of operation. Aside from its direct economic benefits, it adds significant prestige to the image of the Island as an international business location.”

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Notes to Editors

The Isle of Man is one of the most successful economies in Europe, now in its 25th year of unbroken growth, with unemployment below 1.5%, average economic growth of 6% per year in real terms over the last five years and Government revenues increasing over the same period by £150 million. The Island’s national income per head is 25% above the EU 15 average.

Recent economic growth is estimated at 8% in real terms - and is diversifying, being generated in a range of sectors including aerospace, e-commerce, engineering, manufacturing, shipping and construction as well as in the Island’s core financial services sector which accounts for 36% of GDP.

The Isle of Man is positioned in the middle of the Irish Sea at the centre of the British Isles. It is 32.5 miles (52km) long and 13.5 miles (22km) wide at its broadest point, with a total land area of 221 square miles (572 square km).