The vision of the satellite-based, data-centric, network-enabled transformation of the ATC system known as the Next Generation Air Transportation System (NextGen) has entered mainstream discourse in the U.S., but so too has the realization of its formidable cost.
Financing, Insurance and Taxes » Aviation Financing
Issues regarding financing of aircraft.
A growing number of business aircraft transactions has prompted London-based aviation law firm Gates & Partner to consider opening an office in the Middle East. Partner Aoife O'Sullivan is here at the MEBA show this week partly to engage with prospective clients, but also to consider options for establishing a permanent presence with a local attorney.
Tired of lugging around slippery bundles of receipts and having to figure out what they were for and when and where you generated that expense for that painful aspect of business travel, the expense report? Gorilla Expense, a new NBAA exhibitor at Booth No. 4641, has developed software to make the expense process easier.
Contract fueler and trip support specialist Colt International (Booth No. 6237) has made its initial entry into the aviation insurance business with the launch of Colt Risk Management Services (CRMS). Based on its experience working with more than 4,000 flight departments and operators, the company plans to provide custom coverage solutions for any aviation company.
The latest business jet market index from UBS Investment Research fell a further 8 percent, to 37, the second consecutive decrease and below the threshold of 50–the median above which a growing market is indicated and below which deterioration is seen. This follows a stable first half, in which the index held at 50–meaning stabilized conditions–for three consecutive surveys.
Richard Santulli announced today the launch of a new business jet and helicopter leasing company, Milestone Aviation Group, headquartered in Dublin, Ireland. Santulli in the mid-1980s founded fractional share company NetJets, which was sold in 1998 to Warren Buffett’s Berkshire Hathaway. Santulli left that company last year. He is now chairman of Milestone.
Securus Escrow has been established as a new specialist escrow service aimed at bringing greater piece of mind and transparency to aircraft transactions. The London-based company is supported by aviation law firm Gates & Partners and can provide separate escrow accounts for clients with a leading UK bank.
Barely two years ago prospective business aircraft buyers in Europe were among the most sought-after clients for a banking industry attracted both to the high rates of growth in this market sector and to the exceptional strength of asset values, driven largely by soaring demand and long delivery backlogs.
For the business aviation industry, the past year has been a trying one, to say
the least. Aircraft sales and usage declined steeply as the economic downturn tightened its grip, forcing operators to cope with the new financial realities, and in some cases with disparaging views of the industry.