Guernsey's government has given the go-ahead to plans to set up its own aircraft registry, which it believes will generate about £18 million for the island's economy during the first three years.

Proposals for a joint Channel Islands registry with Jersey are still under discussion and a provisional decision is expected within the next month, after Jersey's governmental elections.

However, Fergus Woods, director of civil aviation for Guernsey, said the Guernsey government will press ahead with the introduction of its private and business aircraft registry regardless of Jersey's decision.

He said: "The success of the Isle of Man registry is there to be seen. We're in a very similar situation politically.

"In looking at the feasibility, we agreed that this could be an economic enabler for the island and that we could provide a very high-quality, well-regulated registry that would be of interest to people who would probably do business with us as an island anyway."

The aircraft register will require the approval of the UK authorities before it can be introduced as it will be a sub-registry of the UK Civil Aviation Authority.

Guernsey hopes to emulate the success of the Isle of Man's aircraft register, which has become the eighth-largest business aircraft register in the world, only four years after its introduction.

Currently, the Isle of Man registers about 120 aircraft a year.

Source: Flight International