With less than four months to go before the March 31 deadline for aircraft operators to submit independently verified emissions reports for the European Union Emissions Trading Scheme (EU-ETS), there is still widespread confusion as to how the verification process will work for many in the business aviation sector.
Aviation International News » December 2010
Emivest Aerospace’s Chapter 11 bankruptcy reorganization filing on October 20 revealed that the company has until January 14 to find a buyer or could face Chapter 7 liquidation. Any prospective buyer of the manufacturer of the SJ30 light jet would have until February 4 to close the deal.
General Motors used charter aircraft for its initial public offering (IPO) roadshow last month, marking the first time the company has used private aircraft since Dec. 31, 2008, when the automaker sought U.S. government assistance. GM’s $13 billion public offering took place on November 17.
A six-year-old Australian law that requires international operators of jet aircraft exceeding 12,500 pounds mtow to have a Transport Security Program (TSP) recently received new attention from NBAA. Australia’s Aviation Transport Security Act stipulates a penalty of more than Aus $20,000 if an operator, which includes charter and some privately flown jets, flies in “air service” without a TSP.
Passengers on business jets will be able to block more light coming through electrically dimmable cabin windows with a new dual-panel option from PPG Industries’ aerospace transparencies group. The Alteos Interactive Window Systems brand, based on Gentex electro-chromic technology, allows passengers to
Aircraft charter firm Air Partner launched a new Middle East jet card for private jet customers who want to travel within the region. The program offers inclusive fixed prices for aircraft, along with a 48-hour guaranteed availability and no ferry charges.
Revenues at Berkshire Hathaway’s NetJets fractional aircraft subsidiary climbed 17 percent during the first nine months of this year versus a year ago “due to an increase in worldwide flight revenue hours and increased fuel cost recoveries, partially offset by lower management fees due to fewer aircraft in the NetJets program.” According to the third-quarter financial report, NetJets logged pre-tax earnings of $158 million in the first
Third-quarter earnings from five business jet OEMs are in, and with the exception of Gulfstream the results aren’t for the squeamish.
In a letter to Hawker Beechcraft employees on October 22, chairman and CEO Bill Boisture laid out plans for the Wichita OEM’s latest employee cuts, which will affect both salaried employees and management.
If you consider the recent 63rd NBAA Convention and Exhibition as a bellwether, the business aviation industry appears to be turning the corner. Or is it?