“Charity creates a multitude of sins.” –Oscar Wilde Companies and pilots often assume that no harm could come from offering a ride in the corporate jet at a charity auction. The FARs do allow charity flights under FAR Part 91, but the restrictions are quite narrow. FAR § 91.146 is
DOT Issues Charter Broker RegulationsThe NTSB called for regulation of air charter brokers after a charter flight crash in Montrose, Colo., in 2014. Fourteen years later, the DOT has published a new set of regulations entitled “Increasing Charter Air Transportation Options.” These new air charter broker regulations provide much needed
“As-is, where-is, with all faults accepted.” Although I believe that the origin of this phrase was an old English wedding vow for the serially betrothed, today it is common legal phraseology for the sale of used equipment without any warranty. The simpler Latin phrase is “Caveat emptor”: Buyer beware. Click here
What are the practical and legal considerations when a passenger or crewmember becomes ill in flight? For the larger air carriers and operators of large business aircraft, a flight attendant is usually available to deal with the inflight medical emergency of a passenger or even a crewmember. But what about
The NBAA has appealed an FAA administrative decision to the next level, which in this case is to the FAA Associate Administrator for Airports. Here is the question on appeal: Does the federal prohibition on revenue diversion – as set forth in assurance #25 for Airport Improvement Program (AIP) grants
Congress recently clarified that aircraft management fees should not be subject to Federal Excise Tax (FET), nor should flights be operated by the aircraft owner. However, there are still many gray areas for business flight operations that want to collect reimbursement for flights without taking on FAR Part 135 certifications. Read
More sales and potential buyers have created an uptick in the market for pre-owned aircraft. The low inventory of U.S. registered aircraft makes purchasing an internationally registered aircraft a viable option. Before going all-in on a foreign registered aircraft, consider these issues… Read the full article…
Prior to 2009, Aircraft financing was generally straightforward and often generous. With a virtual shortage of aircraft (new and used) on the market, lenders did not shy away from supporting what are sometimes characterized as “risky,” high-dollar assets. In fact, financiers went so far as to seek out aircraft financing
The “2017 Tax Cuts & Jobs Act” made it through the U.S. Congress in the waning days of December. The controversial bill has garnered so much attention. There are, however, some important provisions relating to aircraft purchases, operations and federal excise taxes that drew little notice by the media as
Congress passed the 2017 Tax Cuts & Jobs Act late last year, and President Trump signed the Act into law on December 22, 2017. The Act repealed the long-standing IRC § 1031 like-kind exchange provision and replaced it with a short-term provision that provides immediate expensing for aircraft (i.e. 100%
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