Wizz Air Resumes Luton Route
In a positive development for Gibraltar’s flight connections, the route to London Luton – last operated by Monarch – will resume in December, run by Wizz Air.
Minister for Business, Tourism, Transport and the Port the Hon Vijay Daryanani MP said, “I’m delighted to welcome a new airline to Gibraltar and to see the resumption of services from Luton for this winter. In these challenging times it is encouraging to see an operator such as Wizz Air UK putting their faith in Gibraltar as a destination. The service will open up the North London catchment area once again, providing more options to our existing air services. Gibraltar International Airport has been performing very well considering the current pandemic and we hope that this service and Wizz Air UK’s relationship with us will grow and evolve. This Government is committed to attracting new carriers and to the expansion of air services and will continue to pursue these, even whilst facing one of the most testing times the travel and tourism industry has ever encountered.”
Wizz Air will promote Gibraltar as a destination to its existing customers, as well as raise awareness of the Rock through other marketing materials available at its disposal.
Owain Jones, Managing Director, Wizz Air UK, added, “We are delighted to be announcing yet more new routes for our UK customers, who we know want to travel, especially with the winter months looming. That’s why we are wasting no time by introducing exciting holiday destinations to our UK network, with genuinely affordable fares. Passengers have even more opportunity to escape to their dream destination, including discovering the unique Mediterranean peninsula of Gibraltar.”
The flights will operate on a Monday and Friday from 11th December 2020 and can be booked on wizzair.com.
Come to Gibraltar Launches
“Come To Gibraltar” is the latest initiative to heighten awareness to the business community overseas of the many positives that the Rock can offer, to facilitate growth and success.
Taking the form of a website, cometogibraltar.com, it has been supported by the Ministry of Economic Development, Business, Telecommunications and Gibraltar Savings Bank.
The overall aim is to bring further investment – whether corporate or individual – to Gibraltar from all over the world. Although Brexit is not the primary driver behind the website, heightened awareness about Gibraltar’s relationship with the EU, the Frontier and Spain means its inception is timely.
The project has been driven by Blue Consulting which has its own offices here in Gibraltar and London, Dublin, Barcelona, Madrid, St. Julian’s, Andorra la Vella and Tallin, plus a further global footprint of correspondents.
Limited partnerships law refreshed
Gibraltar’s law concerning the operation of Limited Partnerships has been updated.
The new Limited Partnerships Act 2020, is the product of a joint effort between HMGoG, the Gibraltar Financial Services Commission (GFSC) and the Gibraltar Funds and Investments Association (GFIA) and resulted from a survey of multi-strategy credit structuring solutions requested by HMGoG and undertaken by Paul Hastings LLP in London. The Act will repeal the existing Limited Partnerships Act 1927, paving the way for significant modernisation, as well as restating previous rules for the sector.
In one of the most significant changes, Limited Partnerships will no longer be required to have legal personality. The Act will allow general partners, upon registering a limited partnership or re-registering a company as a Limited Partnership, to choose whether or not a Limited Partnership has legal personality.
Jonathan Garcia, Partner at Isolas LLP led the process in his capacity as Head of Technical at GFIA.
Talking about the legislative revision, he said, “This new legislation is an important step forward for “Gibraltar PLC”; it showcases our commitment to the future of the funds industry by bringing the legislation up to date with the modern uses of Limited Partnerships, showcasing our regulatory dynamism.
“It was a pleasure to work alongside the Government and be part of bringing this all together. HMGoG understands the need to work with local industry and their representative bodies in order to enact meaningful changes to legislation, in dramatically lower timescales than our competitors. I am proud to have played a part in bringing about these important changes.
“The legislation is in keeping with ‘right touch, not light touch’ regulation, as the regulator will not be required to sign off small changes. Coupled with our favourable tax system, the new legislation serves as another reason for many global entities to consider Gibraltar as the perfect location the investment funds industry.”