Created in 2012 by industry veterans Cass Anderson and Jeff Habib, Intercontinental Aircraft Group (IAG) is a New York City-based consultancy service that provides third-party advice for business jet acquisitions and operations. IAG can provide aircraft needs assessment, mission-profile analysis, financial comparison and optimization, aircraft technical comparison, market analysis, aircraft valuation and contract negotiation.
Financing, Insurance and Taxes
Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.
Amstat (Booth 931) is demonstrating the latest version of its online resource tools for business aviation fleet and operator information. For its Premier Online product, the U.S. company says it has designed a “simple and elegant solution” via two menu options. Users also can now share notes and edits with their colleagues, customize result lists, save and schedule reports, add their own data fields (for territory assignment, for example) and customize printouts–even adding their company logos.
If you see Michal Dvorak here at EBACE wearing a big smile, congratulate him on his new appointment. He was just named chief financial officer of ABS Jets (Booth 2052), with operational bases in Prague and Bratislava. Dvorak has always had a keen interest in both aviation and finance, and his new job will enable him to leverage his expertise in both areas.
The U.S. Internal Revenue Service has agreed to suspend possible tax assessments against aircraft management companies now undergoing federal excise tax (FET) audits.
Airlines are benefitting from growing capital market support for new aircraft financing, with this source of funding expected to account for as much as 15 percent of all transactions this year, according to Boeing Capital. A few years ago, capital markets accounted for barely 2 to 3 percent of aircraft financing.
Aircraft operations in Indiana are about to become more affordable after state legislators approved a slate of aviation tax exemptions and restructurings. The measures, adopted at the urging of the Aircraft Owners & Pilots Association (AOPA) and other aviation groups, remove state sales tax on jet fuel and 100LL avgas and restructure the previously existing excise tax on aviation fuel to a fixed total state tax rate.
Milestone Aviation Group, the helicopter leasing firm that was co-founded in August 2010 by airplane fractional program pioneer Richard Santulli, has quickly grown to mammoth size. The Dublin, Ireland-based company said its fleet, which ranges from light-twin to heavy helicopters, now includes more than 90 aircraft from AgustaWestland, Bell, Eurocopter and Sikorsky worth more than $1.3 billion.
They say the first year can be the best, and for Hong Kong-based Asian Sky Group (ASG, Chalet 370) it has been a sweet first year. The company has completed several aircraft transactions during the past 12 months, and executed several long-term consulting agreements. In the last quarter, ASG participated in transactions totaling $140 million for both new and pre-owned aircraft as diverse as a Cessna Citation CJ1+ and an Airbus ACJ319.
China Business Aviation Group (CBAG, Booth H420), founded in 2010 by business aviation veteran Jason Liao, chairman and CEO, is continuing its efforts to boost the region’s business aviation industry and become its leading services provider. Here at ABACE yesterday it announced agreements with engine-care specialists Jet Support Services, Inc. (JSSI, Booth H418), flight crew employment agency ACASS (Booth H217) and business aircraft sales and charter company China Hongly Aviation Group.
For all the excitement that business aviation is stirring up among Chinese high-net-worth individuals, there are two groups of products that they do not seem ready to embrace: light jets and pre-owned aircraft. For now, the market remains resolutely focused on larger, long-range jets and brand-new models ordered straight from the factory.