Malta's aviation industry is undergoing constant growth as can be witnessed with the 49% acquisition of Hangar 8 in a new business (“the Joint-Venture”) established in Malta. Hangar 8, one of the world's largest charter operator of Hawker aircraft possesses the option at its disposal to further acquire 51% of the interest thereby it would obtain a majority interest. Their interest in Malta is a result of the implementation of the Aircraft Registration Act in 2010 which is gaining rapid popularity in the global aviation scenario.
Hangar 8 has also acquired an Air Operator's Certificate (AOC) which represents the approval granted from the relevant Authority to an aircraft operator so as to allow it to be used as aircraft for commercial purposes. The AOC is based on obtaining the following at the required standard: personnel, assets and a system in place to ensure the safety of its employees and the general public. In fact Michael O’Brien, Chief Executive of Hangar 8 Malta commented that “The benefits of the link with Malta are that the country has positioned itself as a service-oriented and tax efficient jurisdiction to own and operate aircraft and therefore will be seen as an attractive destination for new owners."
