NBAA has issued a new resource about the net investment income tax (NIIT), having now fully reviewed the U.S. Treasury Department and IRS regulations on this tax, which was enacted as part of the 2010 healthcare overhaul. Beginning this year, the law imposes a 3.8-percent tax on the investment income of certain individuals, and it will affect many common airplane leasing arrangements, NBAA said.
Rock-and-roll musician Bruce Dickinson (lead singer of Iron Maiden), who is also an airline pilot, was at the Paris Air Show this week, fired up with the news that he has won a £5 million investment in Cardiff Aviation, his Wales, UK-based aviation services company. Dickinson said that this would help the firm have a “much wider impact across the entire South Wales aerospace industry.”
L-3 Security & Detection Systems is demonstrating its new ProVision 2 passenger scanner here in the group’s Paris Air Show pavilion (Static E17). The equipment has just completed approval under the European Civil Aviation Conference’s Common Evaluation Process.
In response to the powerful tornado that ravaged areas of Oklahoma City on Monday, business aviation charity Sky Hope Network has organized a community relief fund to aid several aviation professionals who lost their homes and also the family of an FAA title examiner who was killed in the tornado. In its first day, the campaign raised nearly $10,000, all of which will be distributed directly to the victims. Donations can be made through June 1 via Sky Hope’s website.
Introduced at AIX, the TravelChair for severely disabled children also won first prize in the Crystal Cabin Awards Passenger Comfort Hardware category, receiving the trophy on April 9, the opening day of the show.
Years in development, the 13.2-pound chair is designed for children between the ages of three and 11 and fits most aircraft seats by way of a strap around the seat-back. It is further anchored using the standard seat belt, meeting airline regulations.
India has reduced the advance application requirements for foreign-registered aircraft from seven to three business days for landing permits and from three days to one business day for overflight permits. The legislation, which has been cleared by the state cabinet, is now awaiting amendment to the civil aviation requirements by India’s Directorate General of Civil Aviation (DGCA) to enable it to be enforced. That process is likely to take around two months, sources have told AIN.
Boeing technical workers have approved a new four-year contract that maintains annual 5-percent salary increase pools and guaranteed minimum wage increases each year. Of the 4,898 workers who submitted ballots, 4,244 voted to accept the same deal a narrow majority rejected on February 19.
With the automatic U.S. budget cuts known as sequestration all but certain to take effect tomorrow, FAA Administrator Michael Huerta explained why they will have such a deep effect on his agency. In testimony yesterday before the House aviation subcommittee, Huerta also lamented that the financial “predictability” the one-year-old FAA reauthorization provided his agency has been all but erased by sequestration.
Eastern Michigan University senior Robert Chapin is conducting a survey on air rage as part of a research fellowship. After digesting nearly everything that’s been written on the topic since 2001, Chapin realized no one had ever surveyed airline pilots on the topic. If you’d like to take part in the survey, visit his research survey site.
Members of the Society of Professional Engineering Employees in Aerospace (SPEEA) returned a split decision on Boeing’s offer for a new four-year contract. Engineers agreed to accept the offer by a count of 6,483 to 5,514, but technical workers voted to reject by a tally of 3,203 to 2,868.