Isle of Man, June 2009 - The European Business Aviation Convention and Exhibition ("EBACE") held in Geneva each year is the premier event and the annual meeting place for the European business aviation community. The exhibition brings together inter alia business leaders, government officials, manufacturers, corporate aviation department personnel, regulators and financiers involved in all aspects of business aviation.
Mike King is the Senior Relationship Director with Lombard on the island and manages their aviation and marine portfolio. He attended the three day event in Geneva as a result of the increasing amount of business which Lombard has experienced in this sector. Mike has been involved in aircraft financing for a number of years and has worked closely with the Isle of Man Aircraft Registry since it was established in May 2007. As a result of the increasing number of aircraft being registered on the island Lombard has seen significant growth in its aircraft funding. Mike was keen to emphasis the importance of the Aircraft Registry to the island and the very high profile it now enjoys within the international aviation community. Mike also works closely with many of the professional firms on the island who specialise in aircraft work.
Mike King, Senior Relationship Director, Lombard, commented:
"The Isle of Man was very well represented in Geneva with a number of local companies taking space
at the exhibition in addition to the Aircraft Registry delegation led by Brian Johnson. Given the
impact of the global slowdown it is encouraging to see the number of aircraft which have gone on to
the local register over the past 12 months and the amount of business which has been managed on the
island.
"Although the past 12 months has been a difficult time for the aircraft industry and in particular the business and corporate jet market, there were some encouraging signs to be seen at the Geneva convention. Aviation is and always will be a cyclical business but there is no doubt that manufacturers have experienced a fairly traumatic period. Lombard has a well balanced book in terms of the type and age of aircraft which it has funded to date and whilst we are seeing a modest correction in asset values we are confident that the industry will continue to provide opportunities which we and the island in general can benefit from."
For more information contact:
Claire Meeghan
Media Manager
Tel: +44 (0)20 7427 9023
claire.meeghan@rbs.co.uk
Notes to Editors
Lombard is part of The RBS group,
a large international banking and financial services company.
Headquartered in Edinburgh, the Group operates in the United Kingdom, Europe, the Americas and Asia,
serving more than 40 million customers. The Group provides a wide range of products and services to
personal, commercial and large corporate and institutional customers through its two principal
subsidiaries, The Royal Bank of Scotland and
NatWest, as well as through a number of other well
known brands including, Citizens,
Ulster Bank,
Coutts,
Direct Line and
Churchill.
