Aircraft leasing has been added to Malta’s aviation cluster as the country seeks to explore new economic niches and complete the services it offers in the aviation industry.
This was announced during a press conference by Prime Minister Robert Abela and Transport Minister Ian Borg held at Transport Malta headquarters in Lija on Wednesday.
The new initiative is aimed at promoting Malta as a jurisdiction for aircraft leasing services, building on an already strong aircraft registration service.
More than 450 aircraft are registered in Malta, out of which 98 were registered this year alone.
During the press conference, Prime Minister Robert Abela said that the initiative was aimed at giving a renewed push to the aviation industry so that it could recover the economic effects of the coronavirus pandemic; investing in a high-potential economic niche, and completing Malta’s aviation cluster.
Abela remarked that the government was convinced that it could succeed in attracting aircraft leasing companies to Malta. Aircraft leasing would strengthen Malta’s standing in the aviation sector, Abela remarked, adding that the economy would benefit and quality jobs would be created.
Minister Borg noted that the new initiative would widen the services offered in the aviation industry. He explained that the government felt the need to set up a platform which would bring all stakeholders together to continue discussing and coordinating matters within the aviation sector.
Civil Aviation Director Captain Charles Pace explained that the initiative was launched following an in-depth study. He said that the authority’s decision to tap into the leasing market will close the circle for the thriving aviation sector.
Transport Malta CEO Joe Bugeja remarked that Malta enjoyed a strong reputation for its shipping registry, and was now strengthening its aircraft registration, 9H.