NBAA released a new publication, “NBAA Aircraft Transactions Guide,” to assist those considering buying or selling a business airplane. Developed by the NBAA Tax Committee, the guide provides background on the most relevant FAA and DOT regulations, federal and state tax issues and aircraft ownership structures. It also maps the various steps of the aircraft transaction process, from the letter of intent to the closing.
News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine powered airplanes and helicopters. Subjects include aircraft, engines, personnel, acquisitions, accidents, safety, security and training.
John Bingham, who has been president and CEO of Piaggio America and chief marketing officer at parent company Piaggio Aero Industries since 2009, left the company on May 30. The company said the move was a planned departure, but was delayed until after it had announced the upgraded Avanti Evo at EBACE in mid-May. Giuliano Felten, Piaggio Aero’s executive senior vice president of civil sales, took over as president and CEO of Piaggio America early last month.
Buyers continue to make their collective presence felt in the pre-owned market, pushing worldwide inventory to multiyear lows following a consistent contraction since last year’s NBAA Convention. Since that time, the market outflow of choices has exceeded the inflow and levels have dipped from 2,600 then to about 2,335 today, a level not seen since the summer of 2008. There are likely a number of factors affecting the depletion, including the perception of an improved U.S. economy, which has stimulated sales activity.
Some 13,030 business aircraft worth $325.6 billion (2014 dollars) will be delivered over the next 10 years, according to the Teal Group’s latest business aircraft forecast. This includes 9,361 traditional business jets worth $262.4 billion; 537 bizliners and regional jet conversions worth a combined $44.1 billion; and 3,132 business turboprops worth $19.1 billion.
U.S.- and foreign-based operators flying aircraft on a charter certificate but conducting private, non-revenue operations to Mexico have been given a reprieve from cabotage rules imposed in April by Mexico’s aviation agency, Dirección General de Aeronáutica Civil. The new rules, which are effective retroactively to June 3, “clarify that operators with aircraft listed on a charter certificate are once again allowed to operate those same aircraft to Mexico as private, non-revenue flights,” according to NBAA.
France-based engine developer Price Induction is taking its DGen 380 turbofan on a U.S. tour this month. Exhibited on a mobile test bed, the 575-pound-thrust powerplant and all of its operating equipment have been mounted on a truck platform for the tour. Next stops are Chicago (July 21), Cleveland (July 24) and University Park, Pa. (July 28).
Littleton, Colo.-based JetTech received FAA STC approval to install touchscreen GTN 650/750 GPS navcoms in Cessna CitationJets manufactured from 1993 to 1999 (S/Ns 0001 to 0359). The approved STC is for single or dual GTN 650/750 installations and includes Waas approvals and certifies the aircraft for fully autopilot coupled GPS-LPV approaches. JetTech is offering the STC’d data package through authorized Garmin dealers and will include full support through the installation process.
NBAA announced on Tuesday that Chris Strong, the association’s senior vice president of marketing and member services, has assumed the role of senior vice president for conventions and membership. Strong’s new responsibilities were formerly held by Kathleen Blouin, who stepped down from her position as NBAA senior vice president of conventions and forums on Monday.
Organizers of the annual Latin American Business Aviation Conference & Exhibition (LABACE) are working fast to put together this year’s show, to be staged at São Paulo Congonhas Airport (August 12-14). Exhibit space sales opened on May 27, and the drawing to assign specific booth locations to exhibiting companies followed on June 10. Last year’s event drew 180 exhibitors, with 68 aircraft on static display.
In a ceremony Friday at its facility at New York Westchester County Airport, NetJets accepted the first Bombardier Challenger 350 as launch customer for the super-midsize jet. “This is a terrific piece of machinery and we couldn’t be more excited about it,” said NetJets chairman and CEO Jordan Hansell.