NBAA released a new publication, “NBAA Aircraft Transactions Guide,” to assist those considering buying or selling a business airplane. Developed by the NBAA Tax Committee, the guide provides background on the most relevant FAA and DOT regulations, federal and state tax issues and aircraft ownership structures. It also maps the various steps of the aircraft transaction process, from the letter of intent to the closing.
Aircraft financing company AirFleet Capital, which is marking its 20th year in business, closed its 5,000th aircraft loan last month. AirFleet Capital has focused solely on the general aviation marketplace, transacting an average of 250 loans per year for customers purchasing aircraft, from warbirds to turbine business aircraft. The company also noted “that an increase in retail demand is well matched with bank appetites that continue to rebound.”
The mergers and acquisitions (M&A) tide is still rising in the commercial aerospace sector, according to Michael Richter, managing director and head of aerospace and defense with investment bank Lazard.
The companies have walked away from an agreement announced last year to partner on a new 5,000-pound helicopter. They continue to operate the HeliVert joint venture that produces AW139s for the Russian and CIS markets.
Russian Helicopters has taken over the management of five aircraft repair plants formerly owned by Russia’s ministry of defense. The plants are located in Khabarovsk, Svetly (Kaliningrad Region), Engels (Saratov Region), St. Petersburg and Chita. They will “significantly strengthen” after-sales service for Russian commercial and military helicopters, according to the manufacturer. Managers from the plants met with Russian Helicopters CEO Alexander Mikheev on May 21.
After five harsh years, the business aviation market is indeed showing signs worthy of optimism, according to responses from JetNet IQ’s most recent industry survey, released last month at the company’s fourth annual summit in New York City. Each quarter the company polls hundreds of business jet owners and operators to read the business climate they are facing, and in the latest round, 54 percent overall (and 59 percent of U.S.
Bombardier Aerospace delivered the first “enhanced” CRJ900 to American Airlines regional subsidiary PSA Airlines on June 5. Based in Dayton, Ohio, PSA plans to start operating the jet under the American Eagle brand “later this summer.” Formerly a US Airways Express subsidiary, it now flies 35 CRJ200s and 14 CRJ700s primarily out of Charlotte, Washington, D.C., and Philadelphia.
The ATR Assembly of Members has appointed Patrick de Castelbajac, 43, CEO of ATR. He succeeds Filippo Bagnato, whose four-year mandate according to ATR’s statutes expired at the end of May.
Airport noise can be an emotionally volatile issue in municipal politics. However, Robert Grotell thinks data, not emotion, should drive decisions about airport and air route noise abatement.
John Bingham, who has been president and CEO of Piaggio America and chief marketing officer at parent company Piaggio Aero Industries since 2009, left the company on May 30. The company said the move was a planned departure, but was delayed until after it had announced the upgraded Avanti Evo at EBACE in mid-May. Giuliano Felten, Piaggio Aero’s executive senior vice president of civil sales, took over as president and CEO of Piaggio America early last month.