“Aircraft insurance is a fairly pragmatic business,” stressed Jim Harris, executive vice president of AIG Aviation, Atlanta. “We put very high liability limits on our clients–$100 to $300 million and even higher on some Fortune 500 companies. Considering we’re insuring $20 million aircraft flying near the speed of sound with millionaire executives on board, training is paramount in our book.”
Aviation International News » August 2001
The 2001 Paris Air Show was no epic in terms of new models unveiled and mega-developments launched. It was nonetheless an exceptionally businesslike event, achieving a record tally for announced sales of some $40 billion. Even so, this grand tally was somewhat down from the $52 billion sales bonanza at last year’s Farnborough Air Show and some chose to interpret this as evidence of the long-anticipated cooling in demand.
Although the media and Congress continue to wring their collective hands over the rising number of reported runway incursions, the FAA is claiming that the severity of these incursions has remained relatively low and stable over the past four years.
Some would have us believe that for business aviation the age of “big is beautiful” has arrived. The NetJets fractional-ownership program now dwarfs many airlines, and major U.S. carrier United Airlines has declared its intent to grab a potentially big slice of the fractional pie.
Signature Aircraft Engineering at London Luton Airport has been awarded contracts to provide scheduled maintenance for Dassault Falcon 2000s in the European and Middle Eastern fleets of Executive Jet’s NetJets fractional-ownership programs. The contracts were awarded by Dassault to meet the terms of its guaranteed maintenance cost commitments to Executive Jet and will run through the end of 2004.
Last month a Miami jury found Gernando Hernandez, a Cuban agent, guilty of conspiracy to murder in the 1996 shootdown of two unarmed, civilian airplanes flown by Cuban exiles. Hernandez and four others were also found guilty of separate offenses related to spying.
Hawker Pacific, a leading general aviation sales and support company throughout Asia, is to be sold by Sweden’s Saab group to Lynton International Holdings of the UK. The deal has been agreed in principle for an undisclosed amount and should be completed over the next few months.
France’s Reims Aviation, one of the few remaining independent aircraft manufacturers and structure subcontractors in Europe, last month launched the F406 Mark II turboprop twin, which has upgraded avionics, increased endurance and better hot-and-high performance than its predecessor, the Mark I.
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