Volkswagen re-registers Cayman Islands business jets in Germany

Volkswagen has re-registered in Germany six business jets that were formerly registered in the Cayman Islands, a company spokesperson stated on Sunday, validating a post in Germany’s Welt am Sonntag newspaper.

The spokesperson stated the move was triggered by new EU regulations stating that aircraft should be governed by the authority of the territory where the planes are stationed.

Volkswagen had earlier denied that the airplanes were registered in the Cayman Islands for tax-avoidance factors, saying it was merely a matter of less administration.

Volkswagen used to have an Airbus A319 for executives’ use but sold it in the wake of the 2015 dieselgate crisis – which has cost it $30 billion up until now – as a signal of cutting down on an ostentatious corporate lifestyle.

Volkswagen now has an overall of nine company jets, seven which were registered in the Cayman Islands. The seventh of those is due to be sold, the spokesperson stated.