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2-REG is celebrating a decade in business with nearly 1,000 aircraft now on its books.
The Aircraft Registry was launched in December 2013, to provide aircraft registration services to aircraft lessors for the purpose of lease transitions and private aircraft owners and operators.
Since then it has contributed money to the island's economy - with figures for 2019 showing it had paid in around £1.4million during that year alone.
The number of new registrations dropped off during the pandemic years with 2022 seeing between 20 and 30 transactions a month, both registrations and de-registrations.
Pictured: Some of the fees levied by 2-REG.
The team at 2-REG said they are "proud to be celebrating its 10-year anniversary, following a momentous journey of growth and success as one of the world’s leading aircraft registries since its inception in December 2013".
Its role in the Channel Island aviation sector, and Guernsey's in particular, has been highlighted with special mentions given to its health and safety ethos as it marks its tenth anniversary.
“2-REG’s success is a testament to the safety culture, cultivated by the high performing team, which has developed requirements, implemented a regulatory framework, and established the necessary oversight processes to manage safety. The realization of such success is not merely a product of our strategic decisions, but rather, it is deeply rooted in the conscious efforts of the team to prioritize safety above all else,” commented John Nicholas, Director of Civil Aviation for the Channel Islands.
His words were echoed by Damon Hackley, the States of Guernsey Director of Operations, who said that 2-REG has shown much promise for the future.
Having worked alongside the team at 2-REG, he said he is “delighted to see the registry go from strength to strength and provide economic and social value to Guernsey. It has become a significant player in the aircraft registry arena, and I look forward to seeing it grow even further in the future.”
Headquartered in Guernsey, with two additional satellite offices in Amsterdam and Singapore, 2-REG is run through a public-private partnership between the States of Guernsey and SGI Guernsey Limited and Air Navigation Law.
Matt Bisson, 2-REG’s Aircraft Registrar, says the way it is run means it has benefits, at low risk, for the States.
“2-REG operates at zero cost to the States of Guernsey and presents a low commercial risk with a manageable reputational impact, offering significant benefits to local businesses.
"The company has created access to the aerospace sector for Guernsey’s financial and legal services that previously did not exist. The strategic partnership with SGIG has been key to the success and growth of the local aerospace sector. I look forward to helping to drive the next ten years.”
Paolo Lironi, Chief Executive Officer of SGI Group said the "vision for 2-REG is rooted in the seamless synergy between private enterprise and regulatory excellence.
“We recognise that in the dynamic realm of aviation, a robust public-private partnership is not just beneficial – it is imperative. By combining the agility of the private sector with the regulatory precision of our esteemed public counterparts, we are not only registering aircraft; we are propelling the industry forward, fostering trust, and setting a global standard for efficiency and safety."
Looking ahead, the team at 2-REG said their future aims include enhancing its offerings, exploring new market opportunities, and providing further accessibility to its stakeholders across the globe, along with "exceptional value with around-the-clock response times".
Ultimately 2-REG wants to be recognised as "a global leader in aviation and beyond".
This all started from a conversation between interested parties in Guernsey and Jersey, when the original idea was for a joint registry to be set up.
That plan never took off so Guernsey went ahead on its own, leaving Jersey somewhat languishing in its wake.
Kevin Stewart was Economic Development Minister in Guernsey when the two islands were discussing the potential of a joint register in 2012/13.
Just over a year ago, he told Express why that never happened and why Guernsey's was more successful than Jersey's, which closed to new registrations last year.
Pictured: Former Guernsey Deputy Kevin Stewart in 2016: "Jersey simply dropped the ball".
Mr Stewart told Express in December 2022: “I like to get on with things and despite a number of attempts to reach out to Jersey, they never got back to us, so we just went ahead with our plans.
“Jersey simply dropped the ball. It was always our intention to work with a private-sector partner who would run it, and we also knew we wanted to target the off-lease market, because heavier aircraft generate more revenue.
“We got things up and running but then Jersey wanted back in, and I said ‘no’ because Guernsey had done all the legwork. That didn’t go down well, to put it mildly.
“You have to trust your business partners and work with them. We worked closely with SGI and built a strong partnership with them; I could never quite work out what Jersey brought to the party.”
The Jersey Aircraft Registry shut down in October 2022, after costing £1.2m to set up and run. It only brought in £27,000 during its seven year lifespan.
The decision to set up Jersey's own registry was taken by the island's then Economic Development Minister Alan Maclean in September 2013, after Guernsey had already decided to go it alone.
It took two years and cost £860,801 to set up, including £372,000 on IT and £177,000 on consultants.
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