Monday, October 17, 2011
Guernsey is to push ahead with plans to establish an aircraft registry as a way of diversifying the island's economy after proposals for a joint Channel Islands registry received little support from Guernsey lawmakers.
The plan was approved by the island's legislative assembly, on September 30.
Presently - as Guernsey lacks the legislative framework - Guernsey aircraft must be registered in foreign territories. Legislation is forthcoming that would enable Guernsey to tap the lucrative market which has seen great success for fellow Crown Dependency, the Isle of Man, which registered its 400th aircraft in August after four years and four months of operation.
The Guernsey government anticipates that the registry will generate around GBP18m (USD28m) for the economy over its first three years, although, as a sub-registry of the United Kingdom, it would have to be approved by London.
Previously, the Guernsey government had entered into a feasibility study with Jersey in October 2010 on the possibilty of establishing a joint Channel Islands' registry. Although the idea has not been dismissed, the proposal reportedly received little favour from Guernsey politicians during the sitting.