The Australian Securities & Investments Commission has issued a repeal instrument removing conditional regulatory relief previously granted to Avia Aviation Pty Ltd and Avia Airshares Pty Ltd in connection with fractional aircraft ownership syndicates. The repealed relief had covered scheme registration, licensing and certain disclosure requirements for the Avia entities as operators and promoters of such syndicates. Following consultation with the directors and submissions on whether an extension was needed, ASIC concluded the relief is no longer legally or commercially necessary, noting that no syndicate has been formed in over 10 years and there was no compelling evidence one would be established in the near future. ASIC noted that if Avia syndicates are established in the near future, the Avia entities can apply for relief in respect of specific syndicates.
Australian Securities & Investments Commission 2025-08-27
Australian Securities & Investments Commission repeals relief for Avia fractional aircraft syndicates
The Australian Securities & Investments Commission (ASIC) has repealed conditional regulatory relief for Avia Aviation Pty Ltd and Avia Airshares Pty Ltd related to fractional aircraft ownership syndicates. The relief, covering scheme registration, licensing, and disclosure requirements, was deemed unnecessary as no syndicate has formed in over a decade, with no evidence of imminent establishment. ASIC indicated Avia entities could apply for relief for specific syndicates if needed in the future.