The process of buying a business jet is fraught with potential pitfalls, among them the many ways that owners can fall afoul of legal constraints. The 2014 NBAA Tax Seminar & Conference, held last month in San Francisco, offered a one-day summary of the issues facing aircraft owners, not only summarizing the key problems that can develop but also giving participants a foundation for understanding how best to set up a flight department from a legal standpoint and how to satisfy taxing authorities with the minimum hit.
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.
Dassault continues to expand the Falcon series, launching the new ultra-long-range 8X at the EBACE show on May 19 just seven months after unveiling the 5X at last October’s NBAA Convention. The 8X is a derivative of the 7X trijet, introducing a longer fuselage and 6,450 nm range, a gain of about 500 nm on the 7X.
The Aviation Alliance’s plan to remanufacture Cessna 421s and Gulfstream GIIIs is moving forward, according to managing director Geoff Miller, despite financial setbacks that have caused delays. Some people, such as former Cessna CEO Jack Pelton, and partners are no longer associated with the Alliance, and a new source of funding had to be found. “That’s why there was a hesitation in the cash flow,” Miller told AIN.
Following 4-percent growth last year, the global business aviation market saw a 2-percent slowdown in flying during the first quarter versus the same period last year, according to JSSI’s latest business aviation index. The firm’s index tracks the number of hours that business aircraft have flown by region, industry and aircraft type.
“We think a sustained recovery in business jet utilization is necessary to drive improvement in the new aircraft cycle,” UBS Investment Research aerospace analysts said in their latest business jet market update, released yesterday. “Without a recovery in utilization we still see the market as oversupplied.”
Cessna Aircraft rolled out the first production Citation CJ3+ today at the company’s manufacturing facility in Wichita. The upgraded twinjet features a new interior with a redesigned cabin and cockpit, new pressurization and new diagnostics systems. It also has a Garmin G3000 avionics suite that includes turbulence detecting weather radar, TCAS II, TAWS and ADS-B capabilities. The CJ3+ was announced on March 20 and it is expected to receive FAA certification in the second half.
Thanks to the generosity of Women in Corporate Aviation (WCA) members and 12 corporate aviation company sponsors, the association will award more than $100,000 in aviation scholarships–a record amount–on October 22 at the NBAA Convention in Orlando, Fla.
The Flaris LAR 1, the five-seat single-engine very light jet unveiled by Podgórzyn, Poland-based Flaris last June at the Paris Air Show, has recently started low-speed taxi tests, but its maiden flight has slipped again.
The 14th annual European Business Aviation Convention & Exhibition (EBACE), held last week at Geneva’s Palexpo conference center and Geneva International Airport, “will be remembered as one of our strongest shows to date,” said European Business Aviation Association (EBAA) CEO Fabio Gamba. EBACE is jointly hosted by NBAA and EBAA.
Exhibitor registration for LABACE 2014 opened yesterday, less than three months before Latin America’s largest business aviation show takes place at São Paulo Congonhas Airport from August 12 to 14. Exhibitors must sign up and pay before June 6 for priority in the exhibit space drawing on June 10.