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1st May 2007 - Isle of Man Aircraft Registry goes live 1 May 2007

The Isle of Man is today launching an aircraft register, allowing private and corporate jets and helicopters the unique opportunity to gain an “M” registration. The register will offer the same high international standards as the familiar United Kingdom “G” prefix. It will benefit from operating from the Crown Dependency, an established international offshore financial centre and will have a competitive scheme of charges.

All aircraft using the new Manx register will be of a high standard, with brand new jet aircraft being the Island’s primary focus. Although the register will be open to all non-commercial planes, it is expected to be of particular interest to professionally flown corporate aircraft, which are increasingly popular with business travellers wishing to circumvent commercial airline travel where delays are often caused by security related issues.

All users of the register will be able to benefit from the Isle of Man’s favourable tax regime. In addition to a zero rate of corporation tax, there is no Manx insurance premium tax (usually 5%), significantly lowering the cost of operating aircraft from the Island. Aircraft financing can be easily arranged as many of the Island’s corporate service providers are active in the aircraft sector, and already have experience working for the Island’s highly regarded super-yacht registry.

The Isle of Man can now provide the first dedicated corporate aircraft register service in a European time zone, making it convenient for users across the world who will also benefit from the Island’s stable political and economic environment, and robust legal system. The Island has a Triple ‘A’ rating from both Standard & Poor’s and Moody’s credit ratings agencies. As the Isle of Man is not, and has never been, a member of the United Kingdom or European Union, the Island and its aircraft registration are seen as politically neutral. This is likely to appeal to many users in the post 9/11 environment.

To complement the aircraft register, the Isle of Man has established an aircraft mortgage register, identical to the UK legislation. The register offers a mortgage registration service during normal business hours and also at any other times by arrangement, to enable the registration of mortgages when aircraft are being delivered from manufacturers in other time zones.

The complete package of corporate and aviation services available on the Isle of Man attracts many private jet owners. Long-time resident on the Island, and owner of the first jet aircraft to be registered, Jim Mellon commented that “the Manx register offers substantial competitive advantages in terms of flexibility, security and costs. The Island is good at providing business innovations, and the success of the shipping and super-yacht registers augurs well for the aircraft register development”. Mr Mellon’s plane will be registered as M-ELON and, unlike on the UK register, this will be transferable to any new planes he buys in the future.

Eddie Davies, owner of Bolton Wanderers Football Club, has registered his plane as M-BWFC. Commenting on his decision to stop using the Bermuda register in favour of the Isle of Man, Mr. Davies said “with other registers outside of Britain the time difference makes it very difficult to communicate successfully, thus holding up the speed at which one can progress. The Manx register will provide much more support for operators and owners as they are only a phone call away and are very willing to meet in person.”

The small scale of the register will enable a more user friendly and less bureaucratic service to be provided by Director of Civil Aviation, Brian Johnson who heads a professional team with many years proven expertise in the aviation industry.

Commenting on the launch of the register, Mr. Johnson said “The register, like all services on the Island, allows clients a high level of service, beneficial financial arrangements and the convenience of operating within easy reach of the UK. My team is fully supportive of the needs of owners and operators, and will ensure that the highest service standards are achieved when registering aircraft”.

For further information please contact:

Isle of Man Department of Industry
Brian Johnson, Director of Civil Aviation
01624 682357
Brian.johnson@dti.gov.im
Weber Shandwick Financial
Richard Hews/ Hannah Jones/ Hannah Marwood
020 7067 0424

Notes to Editors:

About the Isle of Man DTI

The Isle of Man DTI's ultimate aim is to provide a successful diversified economy offering employment opportunities for all, by promoting diversification and further development of new and existing business on the Island.

The DTI’s prime responsibilities relate to the generation of wealth throughout commercial sectors of the economy and the creation of a greater number and wider range of employment opportunities for the Island’s workforce. Its principal operations concern economic development, ship and aircraft registry and training and employment services.

About the Isle of Man

The Isle of Man is a self-governing British Crown Dependency with its own government, parliament and laws. The Isle of Man is not, and never has been, part of the United Kingdom, nor is it part of the European Union. It does not have elected representatives in Westminster or Brussels.

The UK government, on behalf of the Crown, is ultimately responsible for the Island’s international relations. The Queen, as ‘Lord of Mann’, is the Manx Head of State and is represented on the Island by the Lieutenant Governor.

The Isle of Man is one of the most successful economies in Europe, now in its 22nd year of unbroken growth, with unemployment below 1.5%, average economic growth of more than 5% per year in real terms over the last five years and Government revenues increasing over the same period by £100 million. The Island’s national income per head is over 20% above the average for the 15 leading EU economies.

Economic growth is accelerating - to an estimated 8% in real terms in 2006 - and is diversifying, being generated in a range of sectors including aerospace, e-commerce, engineering, manufacturing and construction as well as in the Island’s core financial services sector which accounts for 39% of GDP.

The Isle of Man is positioned in the middle of the Irish Sea at the centre of the British Isles. It is 33 miles (52km) long and 13 miles (22km) wide at its broadest point, with a total land area of 227 square miles (572 square km).

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