The Civil Aviation Authority of the Cayman Islands led a team of financial, shipping and tourism representatives at a major trade show in Geneva during May.
The European Business Aviation Convention and Exhibition is a three-day event that attracted nearly 13,000 people and over 500 companies, all keen to learn the latest about developments in the aviation industry as well as make contact with clients and partners for potential linkups. Marcus Cumber of Cayman’s fixed base operator Island Air said that the event, which ran from Tuesday, 17 May to Thursday, 19 May, seemed to have a lot more energy and optimism compared to 2010 and 2009.
“From the [previously] flat years there seems to have been a trickle coming back, which is good news. From my perspective I was very happy to renew old business contacts and seek out new ones.
“We received a lot of questions about registration of aircraft and also Cayman as an investment [possibility]. I was wearing my National Investment Council hat as well as my Island Air hat and was representing Cayman as a destination more than anything else because nobody goes to Cayman just for Island Air; they go for tourism, banking, investment and business and then they use Island Air,” he said.
He added that with an extra buzz in manufacturing and new planes over the course of the year the service businesses such as Island Air would be busier as there would be more planes in the air, more people buying fuel and a slew of other positive spin offs.
Industry growth
Richard Smith, director general of the Civil Aviation Authority of the Cayman Islands, said that the industry continues to show signs of growth.
“This particular show offers an invaluable opportunity for the authority and its business partners to interact with clients, potential clients, financiers, legal advisors and other regulatory authorities.
“The partnership of public and private sector organisations whose businesses are impacted by aircraft registration in this jurisdiction is extremely important to the continued growth of the Cayman Islands Aircraft Registry,” he noted.
Also represented at the conference was Caroline McCann of Appleby Global. The Department of Tourism and the Cayman Islands Shipping Registry also provided materials to be handed out. The shipping registry is seen as a potential source of shared potential due to the demographic of mega yacht owners who may also own or lease private aircraft.
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