Business aircraft financing and leasing has continued to be a “much more challenged marketplace,” according to Bank of America Merrill Lynch managing director and head of global corporate aircraft finance Michael Amalfitano, who will be moderating a panel on this topic at the upcoming NBAA Aircraft Registration, Finance and Legal Conference. The event will be held in St. Petersburg, Fla., on February 6 and 7.
The “partial” U.S. government shutdown that began on Tuesday as a result of a congressional budget impasse has had a more profound effect on business aviation than initially expected by industry watchers. What caught observers, including GAMA, off guard was the closure of the aircraft registration office in Oklahoma City, a move that has paralyzed both new and pre-owned aircraft sales transactions.
San Marino has relaunched its aircraft registry by taking steps to make it more attractive to foreign owners and has signed a partnership agreement with U.S.-based Aviation Registry Group (ARG), which already administers Aruba’s offshore registry.
San Marino is introducing a new aircraft registry in partnership with U.S.-based Aviation Registry Group (ARG), which already administers Aruba’s offshore registry. The landlocked microstate, which has no airport and is surrounded by Italy, will be outsourcing all technical tasks to ARG, which is promising to ensure high safety standards as well as competitive pricing and flexible service that will be competitive with the Isle of Man’s highly successful offshore registry. The registry becomes active on December 1.
The word “offshore” can conjure images of money laundering, tax dodgers and oil spills, but in today’s business aviation world, as privacy and security become ever more precious commodities, offshore registry is becoming an acceptable alternative.
NBAA strongly denounced a decision, announced by FAA officials late Friday, to push ahead with the proposed changes to the Block Aircraft Registration Request (Barr) program. “We are outraged at the government’s move,” said NBAA president and CEO Ed Bolen.
In the aftermath of the FAA’s new rule requiring reregistration of aircraft every three years, news media reports that the FAA had “missing data” on as many as 119,000 of the 357,000 U.S.-registered aircraft prompted a U.S. senator to call for congressional hearings.
Reacting to news reports that the FAA has missing data on nearly 120,000 of the nation’s 357,000 registered airplanes, retiring Sen. Byron Dorgan (D-N.D.), chairman of the Senate aviation subcommittee, is recommending holding congressional hearings. In 2007 and 2008, the agency warned that the problem was causing loopholes that terrorists, drug traffickers and other criminals might exploit.
John and Martha King got the surprise of their lives on the evening of August 28, when they landed in a Cessna 172 (N50545) at Santa Barbara Municipal Airport after some instrument currency practice. The Kings are well known to the aviation industry, not only as the founders and the faces of King Schools, which has helped train thousands of pilots, but also as tireless advocates of general aviation safety and education.
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