After 30 months of operation the Isle of Man Aircraft Registry has already registered 175 aircraft.

Manx-registered planes can only be used for private or corporate use, not commercial air transport.

With demand for corporate jet travel remaining good for successful global businesses the DTI says the Island continues to benefit, primarily by generating business for corporate service providers, lawyers and the financial services sector.

However, some of the growth has been driven by a recent new initiative to register airliners which are between leases, or "parked".

The current global downturn has led to an increase in the number of non-operational airliners requiring a safe and secure aircraft register.

Planes from all the world’s major corporate aircraft manufacturers have already been registered, including the airliner variants from Boeing and Airbus.

Trade and Industry Minister David Cretney says, "I am pleased to see this still relatively new business sector continuing to show such huge growth.

"The global reputation of the Isle of Man is greatly enhanced by our association with the world’s most successful companies and I am extremely grateful for the efforts of our small DTI Aircraft Registry team to make this success possible."