The Channel Islands Aircraft Registry, 2-REG, has completed its
first year in business and registered aircraft with a combined
value of more than £250m, the Guernsey Press has
Operator SGI Aviation said it had been a successful year, though
a lawyer closely involved in some of the registrations made said
that business had gone in a different direction to what was
In its first year, 2-REG has completed 32 registrations of small
aircraft from Guernsey residents and large aircraft of corporate
owners and lessors. As part of that it has issued more than 400
certificates, approvals, permits and validations and carried out
business transactions with 34 different countries.
SGI Aviation Executive Director Wim Ovaa said: "I don't
think I can stress enough the boost this gives Guernsey plc. As a
Guernsey-based business, we have flown the flag for Guernsey with
some economic heavyweights such as Brazil, the UAE, Australia,
Canada, the USA, India, Malaysia and China. We work with many
organisations, individuals and aviation authorities across the
globe and are very much looking forward to the continued expansion
of 2-REG over the year and further."
Carey Olsen Senior Associate Ruth Abernethy said that the
original plan for the registry was to attract light aircraft, then
business jets and airliners between leases a couple of years on.
She said the success of attracting airliners in particular had
"Having an aircraft registry is extremely useful for
Guernsey. The Island wants to be a full-service jurisdiction, able
to provide solutions to any asset management and finance need and
2-REG is part of that offering," said Ms Abernethy.
"The launch of 2-REG has also provided the opportunity to
speak with businesses about other things that Guernsey can offer as
many of the businesses that may make use of 2-REG also make use of
non-aviation specific services such as banks, insurance and trust
companies. It is interesting that the registry is attractive to
lessors of airliners. The world's biggest lessors, all global
businesses, are either using or about to use the Guernsey aircraft
registry, which is attractive because of its excellent service
The registration process can take as little as 10 days.
Ms Abernethy added: "The aircraft registry market is a
crowded one and Guernsey's ability to provide excellent
customer service, efficient turnaround and good availability of
airworthiness inspectors - vital in the registration process -
makes it very attractive globally. 2-REG is good for Guernsey. It
is low risk, with SGI bearing the majority of any burden, and it is
another opportunity for the Island to demonstrate the breadth and
depth of its offering.
"Aircraft ownership is expensive and requires expertise in
terms of the finance and structuring, and lenders want security if
they are to finance the purchase of an aircraft. Having the
registry means that Guernsey trust companies and wealth managers,
as well as lawyers, insurers and other related services, have
another tool in the toolbox."
An original version of this story first appeared in
theGuernsey Press, January
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