Finance

October 18, 2006 - 5:21am

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.

October 17, 2006 - 10:01am

Republican lawmakers have taken steps to shelve new tax rules in the 2005 Highway Bill designed to discourage truckers from using jet fuel to avoid higher taxes on diesel fuel. Sens. Ted Stevens (R-Alaska) and Conrad Burns (R-Mont.) and Rep. Robin Hayes (R-N.C.) sent letters to U.S.

October 17, 2006 - 7:46am

Business aviation groups welcomed a letter from the FAA to the commissioner of internal revenue asking him to suspend implementation of new fuel tax rules that would impose a “significant administrative burden” on general aviation businesses and “create financial risk for the Airport and Airways Trust Fund.” The new rules would raise the tax rate on jet fuel to that of costlier highway diesel fuel but allow aviation jet fuel buyers to apply fo

October 17, 2006 - 6:02am

Former insurance competitors Aero Insurance and AirSure have merged to form what officials say is now the “largest general aviation insurance broker in the world.”

October 16, 2006 - 8:00am

After sustaining losses of C$116 million ($91.4 million) after 9/11, Nav Canada, the private, non-share corporation that owns and operates Canada’s civil air navigation system, saw its rate stabilization account–a financial savings buffer to offset downturns in revenue–return to the positive side of the ledger in April.

October 16, 2006 - 5:07am

1. Don’t overinsure or underinsure your aircraft. Hull insurance policies are stated-value policies. In case of a total loss the insurance company pays the stated value of the policy. Be sure to know your aircraft’s true replacement cost and insure the aircraft for that amount. Overinsuring your aircraft results in higher premiums; underinsuring means you’ll need to pony up extra money to replace that aircraft if it’s lost.

October 16, 2006 - 5:05am

After being forced into retirement at age 60, some former airline pilots turn to corporate aviation to continue their flying careers. It can become a problem for operators to obtain hull and liability coverage when these older corporate pilots reach age 70.

October 16, 2006 - 4:46am

Various aviation insurance professionals seem to agree that the overall market has stabilized with premiums still significantly higher than pre-9/11 levels but with decreases in various segments. Some brokers have reported decreases in premiums as high as 25 percent, but those have turned out to be unusual cases. For those bizav operators who have seen decreases, the average reduction has been 5 to 10 percent.

October 12, 2006 - 8:32am

Bank of America last month formed the Corporate Aircraft Finance Division, a group that combines The Private Bank’s Aviation Finance Division with the Bank of America Leasing Corporate Aircraft Finance strategic business unit. With creation of the new division, Bank of America has more than 700 clients and $4 billion in aircraft loans and leases.

October 11, 2006 - 6:31am

In keeping with NBAA’s new effort to seek candidates who are familiar with business aviation through a “variety of professional skills and experiences,” three of the association’s four new board members are not directly from corporate flight departments. The new members are Thomas Frist, pilot and co-founder of Hospital Corporation of America. Dr. Frist is also the brother of Senate majority leader William Frist (R-Tenn.).

 
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