As of 2010, Malta has been a party to the Cape Town Convention which is implemented through the Aircraft Registration Act of 2010. Upon ratification of this Convention the aircraft field in the country changed significantly placing Malta on the map for aircraft registration and security, with registration of aircraft having reached its highest point in 2015 and ever growing.
Jurisdictions that are parties to the Cape Town Convention, benefit from a 10% discount on their export credit premium. Malta has now also been added to the list of beneficiaries of this discount as of 21st March 2016, which will lead to a further boost in the aviation sector within the Maltese Jurisdiction.
In order to qualify for the discount the financing must relate to an ‘aircraft object’ as defined in the Cape Town Convention, operator must be situated in Malta or another jurisdiction recognised by the OECD as eligible for the discount, and the aircraft must be registered in Malta or another Cape Town Convention State.