A letter from the Internal Revenue Service (IRS) can cause any taxpayer’s heart to skip a beat. For aircraft operators, whose main focus of government compliance is the FAA, it can be easy to overlook the many nuances of the federal and state tax codes to ensure all taxes are being paid.
Aviation International News » November 2005
While Ibis Aerospace officials have been cheering publicly for months that the Ae270 Spirit turboprop single is nearing FAA and EASA approval, their mood behind closed doors was likely more muted. This is because the Ae270, until recently expected to be certified late this or early next year, is not meeting performance guarantees and won’t enter production in its current form, a U.S. spokesman told AIN last month.
Unlike physics, economic forecasting is not an exact science, and significant natural disasters have a way of scattering the tea leaves. Nevertheless, it might be worthwhile to see what two experts are saying.
For aircraft financers, insurance and the stability of the OEM are the main concerns when they consider the very light jets (VLJs), three of which are working toward certification next year.
Interest rates for aircraft loans and leases are typically negotiated individually for each case, so lenders rarely publish their rates. Aircraft type, the value of the specific aircraft, its intended use, its location and the financial standing of the client, along with the down payment and length of the loan, all figure into the interest rate.
A vibrant level of new aircraft deliveries, strong sales of used aircraft, low interest rates and competition among lenders have provided banks and other companies involved in the financing of business aircraft with greater activity this year than last year.
A decade ago, any discussion of the private aircraft market in the Middle East was generally limited to members of the royal families as customers, and the airplanes were for the most part executive/VIP versions of widebody airliners.
Jet Aviation’s new facility in Dubai is now operating as the first full-service FBO in the United Arab Emirates. The Swiss group’s maintenance center opened at Dubai International Airport in May, and since then the operation has been approved to provide in-house customs, as well as immigration and security clearance.
The number of business jets registered in Middle Eastern countries has grown by about one-fifth over the past 10 years. By the standards of other still-emerging markets such as Europe (which had 45-percent growth during the same period), the Middle East’s 18-percent fleet growth is not exactly earth-shattering.
The first Middle East Business Aviation Conference (MEBA) is to be held in Dubai on November 19, on the eve of the Dubai Air Show (November 20 to 24). The event is a response to rising levels of interest in business aircraft from a widening prospective client base throughout the region.