New Aircraft Registry Slow To Gain Favor with Bizav

 - January 8, 2007, 6:56 AM

Since its Web site opened for aircraft registrations on March 1, the new International Registry of Mobile Assets, more commonly referred to as the Cape Town Treaty, has found few supporters within the business aviation community. Now Sen. James Inhofe (R-Okla.) is considering introducing legislation to “exempt aircraft weighing 100,000 pounds or less or with 30 seats or less from the burdens of the implementing act,” according to a letter he sent to the FAA. Currently, airplanes certified to carry eight or more people and helicopters certified to carry five or more, both including crew, are included under the treaty. Many people involved in aircraft transactions report incurring difficulties and costs in their attempts to comply with the treaty, though some expect to see improvements in the process and reductions in cost over time. So far only the U.S. and seven other countries have signed the Cape Town Treaty, so named because it was established at a conference held in Cape Town, South Africa, in 2001.