Registrations of aircraft assets submitted to the International Registry of Mobile Assets (International Registry) have topped half a million. The registry was set up in 2006 under the Cape Town Convention to establish legal priority in disputes over ownership and is overseen by ICAO. The online registry, which is operated by Aviareto in Dublin, enables owners of airframes and engines to register their assets and was designed to reduce financing costs. Currently 110,000 assets are registered on the database, worth an estimated $500bn, and 7,000 new registrations are being submitted each month. Of the assets registered 25 per cent are airframes and 68 per cent are engines. ICAO secretary general Raymond Benjamin said hitting the half-million registration milestone “clearly demonstrates that the International Registry is meeting the needs for which it was created”.