Aequitas Legal’s aviation team has a thorough knowledge and understanding of the aviation industry and has repeatedly assisted businesses in the industry including aircraft financing entities currently based in Malta.
Our legal services include obtaining the requisite financing for the acquisition of aircraft, as well as advising on public policy issues regarding aviation. We excel at building constructive working relationships amongst several local and foreign advisors and clients.
As of October 2010, the new Aircraft Registration Act has come into force with the intention of promoting Malta as an ideal hub for all key players in the aviation sector. The Act coupled with the ratification of the Cape Town Convention, which became law in Malta on the 1st February 2011, are set to mark the beginning of another successful venture for Malta.
This Act has introduced a number of innovative concepts and affords numerous advantages in relation to the registration of aircraft and aircraft mortgages in Malta. These have been summarised as follows: -
- Introduction of a flexible and viable structure for aircraft registration;
- An all-inclusive National Aircraft Register, as opposed to a separate; aircraft and mortgage register, which integrates the aircraft’s ownership and technical information along with details of third party rights over the aircraft and/or its engines;
- Extensive qualifying rules for aircraft registration including access to the aviation register by as many owners and operators as possible, while simultaneously ensuring that it is not available to everyone;
- Narrowing of nationality and form requirements and extension of ownership of Maltese aircraft – under specified circumstances – to nationals of countries other than EU Member States, EEA States or Switzerland;
- Possibility of registering an aircraft still under construction, provided such aircraft is uniquely identifiable;
- Option of having an aircraft registered not only by the respective owner but also by operators under a temporary title, in addition to buyers under a conditional sale or title reservation or similar agreement;
- Introduction of fractional ownership of an aircraft allowing more than one person to have a vested interest in an aircraft;
- Improved measures aimed at protecting creditor’s rights placing them in a better position to enforce their rights;
- Enhanced rights of creditors including the possibility of registering an irrevocable power of attorney for de-registration and export of the aircraft;
- Extensive protection and increased authority to mortgagees in relation to the cancellation of an aircraft from the register;
- Preservation of special privileges or reservation of title of aircraft on accessories of aircraft