The U.S. Bankruptcy Court, Southern District of Florida, issued an order late last month holding Jet Network FC Holdings (JNFC), JetCard Plus and JetCard CEO Paul Svensen in contempt of court for allegedly violating a December 8 court order to submit documents and information about Svensen’s former employer, Jet Network LLC.
AINalerts » March 5, 2009
Cessna Aircraft is reminding Citation owners that enhancements made to their business aircraft this year might qualify for the new bonus depreciation tucked into the recently passed federal stimulus legislation, “depending on the tax accounting treatment a company uses for the upgrade.” Upgrades to business aircraft from other manufacturers could potentially benefit from the bonus depreciation rule as well.
ViaSat today named Satcom Direct a reseller of its new Yonder Ku-band satellite broadband service for business jets. Based on ViaSat’s ArcLight technology and using a lightweight, 12-inch antenna, Yonder is capable of providing download speeds of up to 10 megabits per second in flight. The service is available over North America, the Caribbean, the North Atlantic, Europe, the North Pacific and the Arabian Gulf.
Yesterday a judge verbally approved the motion to convert Eclipse Aviation’s bankruptcy from Chapter 11 to Chapter 7, which means the company’s assets will likely be auctioned to the highest bidder. Phil Friedman, CEO of Wichita-based Harlow Aerostructures, has formed New Eclipse Acquisition to bid on the assets and, if successful, work with suppliers to provide maintenance support and avionics and other upgrades.
Less than 40 days ago, General Dynamics chairman and CEO Nicholas Chabraja said subsidiary Gulfstream was seeing demand for large-cabin jets hold strong, though he acknowledged that sales of its midsize jets had “dramatically softened.” At the time, Chabraja predicted that Gulfstream would deliver 94 large-cabin jets (seven more than last year) but would more than halve midsize shipments to “about 30.” Today his expectations met the reality of