Monday is the deadline for comments on a Securities and Exchange Commission rulemaking proposal to require more detailed reporting of top executive compensation, including such perks as personal use of corporate aircraft. The Wall Street Journal called the proposals the “most sweeping overhaul of pay disclosure rules in 14 years.” One of the proposals would lower the threshold at which perks must be disclosed.
AINalerts » April 6, 2006
The National Association of State Aviation Officials is asking Congress to “say no” to the FAA’s 2007 budget proposals. According to NASAO, “All of the states and thousands of airports across the nation will suffer if the administration is allowed to slash nearly a billion dollars out of the already authorized $3.7 billion Airport Improvement Program.” The FAA is requesting $2.75 billion for airport improvements.
Testifying recently before the House aviation subcommittee on unmanned aircraft (UA), FAA associate administrator for aviation safety Nicholas Sabatini outlined the challenges of integrating UAs into the National Airspace System. Sabatini explained that operations of UAs are currently approved under two means–certificates of authorization (COA) for government agencies and experimental airworthiness certificates for private industry.
Cessna, Eclipse and Adam Aircraft are all confident that their respective very light jets will be certified this year. According to Cessna chairman, president and CEO Jack Pelton, the Citation Mustang is on track for FAA approval in the fall, though he hinted that the VLJ could get its papers a little earlier.
Piaggio Aero Industries, manufacturer of the Avanti turboprop twin, says it will develop a business jet. The Italian airframer is considering which of two designs to develop, but must first reach agreement with a “strategic partner” to make the project a reality. “The concept is almost frozen.