Malta selected as base for Hangar8

One of Europe's leading operators of private jets, Hangar8, today announced that it acquired an initial 49% interest, with an option to gain 51% control, in a new business (“the Joint-Venture”) established in Malta.

The acquisition of a base in Malta resulted from the creation of a new aircraft register following the Malta Aircraft Registration Act, which came into force on 1 October 2010.

During a ceremony held at the Malta International Airport this morning, Transport Minister Austin Gatt presented the AOC certificate to Hangar8 CEO, Michael O’Brien.  

“We are proud to be associated with Hangar8 through their investment in Malta. Their choice of Malta indicates the Maltese Government’s continuous efforts in establishing our island as the jurisdiction of choice for service-oriented cutting edge industries,” Gatt said.

Gatt said that during 2011, a full year since the introduction of the aircraft register legislation, Malta registered a 21% increase in registered Aircrafts totalling 104 aircrafts. “Government’s policy to promote Malta as a leading jurisdiction for Aircraft registration and as an attractive location to base air operating companies registered further success. This represents a net increase of 18 aircraft over the previous year.”

Transport Malta (TM) also reported a notable interest from air operators to relocate their business to Malta and is currently processing more than 30 requests from international business aviation operators.