Once again, Malta has ranked first in Europe in the Cape Town Convention Compliance Index and second in the world, with a score of 95. This was announced by Minister for Transport, Infrastructure and Capital Projects Aaron Farrugia, whilst addressing the Malta Aviation Conference & EXPO (MACE).
In May 2022, Malta received the same ranking as it did now with a score of 95, considered to be very high in the industry.
The Cape Town Convention Compliance Index was developed by the Aviation Working Group (AWG), and it evaluates state compliance with the Convention on the International Interests in Mobile Equipment and Aircraft Protocol. The index demonstrates the AWG’s assessments of the likelihood of compliance with legal obligations based on the input from more than 200 law firms around the world and a rigorous methodological process.
Lawyer Katrina Abela, founder of Vaia Legal, tells BusinessNow.mt that Malta’s compliance to the Cape town criteria maintains the country’s position as the go-to jurisdiction in Europe for financiers and interested parties to secure their interests over registered aircraft in an efficient and internationally recognised manner.
Dr Abela remarks that Malta’s full ratification of the Cape Town Convention and its success in maintaining its status as the highest-ranking jurisdiction in the European Union, “provides a sense of stability and peace of mind to interested parties, owners and operators of aircraft registered in Malta.”
During MACE, the Government explained that the there are currently more than 820 aircraft registered on the national register, while 47 Air Operator Certificates (AOCs) have been issued to various airlines. Aviation, with its annual contribution of €600 million towards our economy and the transport of millions of passengers, “has long been a fundamental pillar for the prosperity of our country.”
Malta’s aviation industry is expected to continue to develop as a result of several crucial projects, including investment in the Malta International Airport and the first airlink between Malta and Gozo.
Minister Farrugia expressed his belief in a competitive market, in which businesses and airlines can set their prices in accordance with operating expenses and the current market demand.
“At the EU Council of Ministers Meeting, we will continue to resist the demands of other European countries that are asking for the introduction of mechanisms to regulate fare prices. Such positions continue to make Malta an attractive business destination because the industry knows fully well that it can collaborate with the Maltese Government. Through a robust legislative framework and an agile authority, we ensure that our nation remains a jurisdiction of choice and not one of convenience,” added Minster Farrugia.
In accordance, Jonathan Borg, Transport Malta’s CEO stated that the authorities’ goal is to continue expanding by attracting more businesses to Malta. Additionally, Captain Charles Pace, the General Director of Civil Aviation (CAD), reaffirmed that the industry’s response demonstrates that the CAD is achieving its goal of being “a firm, fair and pragmatic regulator.”
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