The Civil Aviation Authority of the Cayman Islands is a financially self sustaining statutory authority and does not depend upon government subsidy.
Through prudent financial management and growth in its core sector of business, the Cayman Islands Aircraft Registry, the Authority has grown from strength to strength with a minimal number of regulatory staff to meet the stringent international standards of the International Civil Aviation Organization and ensure safety oversight of the aviation industry.
The CAACI has a lean business development budget that is carefully targeted towards strategic opportunities in key markets globally. The promotion of the Cayman Islands Aircraft Registry, which is one of the many asset management options offered in this jurisdiction, is vital to the expansion and growth of the registry. The registry has positive financial spill-over effects for the jurisdiction as it generates local company formation, requires the use of our legal and financial services and contributes to the positive economic growth of this country.
The aviation tradeshows targeted by the CAACI are the National Business Aviation Association in the USA, the European Business Aviation Conference & Exhibition in Europe and the Middle East Business Aviation show in Dubai.
The Authority decided not to attend the Dubai Air Show this year as part of its financial conservation measures.
The CAACI also partners with the Cayman Islands Maritime Authority in its promotion of the Cayman Islands Yacht Registry as there are great synergies between the owners of mega yachts and private/corporate aircraft owners. There are individual benefits for attending each other’s tradeshows but most importantly, it provides an opportunity to promote the Cayman Islands as a favourable offshore jurisdiction for registering movable assets, whether it be yachts or aircraft. The Monaco Yacht Show has proven to be of substantial benefit in our joint efforts and the presence of aviation exhibitors at this show has increased over the years.
The Ft. Lauderdale International Boat Show has proven to be less interactive from an aviation perspective and the Authority decided not to attend that show this year. Due to the requirements to set-up displays and man a booth for hours (sometime in excess of the normal work day) adequate personnel is required. It should be noted that travelling to facilitate these business opportunities is not a luxury or perk, staff are taken away from their families, they work long arduous hours and their contributions should not be taken lightly or ridiculed.
It is unfortunate that Mr. Davies finds it necessary to discredit the Director-General and make light of the genuine efforts of the CAACI to promote Cayman Islands aviation services.
Perhaps it would behove Mr. Davies to pay a visit to the CAACI and learn about the value of the CI Aircraft Registry, the value of the regulatory function that the CAACI fulfils in ensuring that aircraft associated with this jurisdiction meet stringent international standards and, to understand how much is accomplished with a lean and dedicated staff.
Director of Commercial Affairs Regulation & Administration for The Civil Aviation Authority of the Cayman Islands
Contact: [email protected]