Earlier this month the FAA published a Notice of Proposed Policy Clarification for the Registration of Aircraft in Owner Trusts. The Notice focuses on aircraft registered in the name of trustees with non-U.S. citizen trustors/beneficiaries. Comments on the Notice are due to the FAA by March 31, 2012.
FAA Notice of Proposed Policy Clarification for the Registration of Aircraft in Owner Trusts
February 17th, 2012 by
When Was The Last Time You Checked On The Jet?
August 11th, 2011 by
Aircraft operations, like all other aspects of your business, require regular reviews to ensure that they evolve along with the many other facets of your company. If you have not checked on your aircraft’s operations recently, consider reviewing the utilization, registration, liability coverage and applicable tax laws and FARs governing the proposed operation.
FAA Moves to Disallow Blocked Aircraft Information
May 6th, 2011 by
A recent FAA proposal may greatly limit the privacy of your US aircraft operations.
Paying for Personal Use of the Company Aircraft
April 12th, 2011 by
On December 30, 2010, the FAA issued an interpretation which allows a limited exception to the FAA’s decades-long broad prohibition on employees reimbursing the company for personal travel on the company aircraft. As important as what this interpretation allows is what it does not allow.
Personal Flights in Corporate Aircraft
April 4th, 2011 by
Since 1993, the FAA has prohibited executives from reimbursing their companies for personal use of company aircraft. On December 30th, 2010, the FAA Office of Chief Counsel issued a change to Part 91.5019b)(5), the “Schwab Interpretation.” Some, but not all personal travel by executives now meets the conditions for reimbursement.
Letter of Intent
March 8th, 2011 by
The next time you are drafting or reviewing a Letter of Intent, consider this: It is an opportunity to address your most important business points in the way you will want them adressed in the pruchase agreement. Think about the entire deal, not just the price.
Aviation Insurance
January 4th, 2011 by
The complex relationship between insurance underwriters, reinsurers and the financial markets explains why premium costs often fluctuate wildly even in years where insurance claims are low. Since you can’t control the financial markets, what can you do to control insurance costs? Get your broker and/or underwriter to visit your operation.
Trusts, Fiduciary Obligations and the Family Jet
December 28th, 2010 by
Apprise yourself of the duties of a trustee to re-register an aircraft pursuant to the new FAA requirements.
Evolving Medical Standards
November 30th, 2010 by
This past April, the FAA began to consider special issuance of medical certificates to pilots with mild-to-moderate depression who have been treated for at least 12 months on one of four antidepressant medications. The FAA’s decision to allow pilots to take drugs such as Prozac was a demonstration of political bravery. The FAA carefully constructed a case for the change while also building consensus among industry groups.