Policies are cheap, so it’s easy to be well covered. Here’s what you need to consider.
October 8, 2014
September 26, 2014
Sales taxes offer an easy way for states to raise revenue, and business jets are a favorite target.
September 23, 2014
The prepurchase inspection is a key event in any business aircraft sales transaction.
September 1, 2014
One of the most pervasive myths about the taxation of business jets in the U.S. is that the owner isn’t entitled to any deductions unless more than 50 percent of the aircraft’s usage is in a trade or business. I hear this regularly from people who are contemplating a jet acquisition but worry that they won’t be able to take any tax deductions for it because less than half the usage will be business-related. Like many myths, this one contains a nugget of truth, as I’ll explain presently. But it’s incorrect to assume you can’t write off anything if your business use doesn’t exceed 50 percent.
August 10, 2014
Your aircraft represents a wonderful business tool but also one of your largest potential exposures to catastrophic loss—one that could wipe out what you have spent years building. The importance of properly insuring against such loss should be obvious. Here’s a look at the most critical coverage types and clauses.
July 10, 2014
As soon as its first owner departs from the manufacturer’s delivery center, a new airplane technically becomes used (or preowned). For various reasons, however, 10 years after an aircraft’s final production date is generally considered the milestone separating “newer” used business aircraft from “older” ones.
July 8, 2014
Industry experts continue to blame lack of financing for the failure of business jet orders and sales to recover more rapidly since 2008. “Many sales are lost because prospective buyers can’t obtain financing or can’t obtain it on favorable terms,” says Andrew Bradley, president of global sales at Avjet Corporation. Bradley has even seen a bank require its client to buy a newer, significantly more expensive aircraft rather than provide financing for a slightly more than 10-year-old airplane of the same model. Indeed, relatively few business jets acquired last year were financed at all.
June 22, 2014
What’s the worst thing that can happen to your business jet? You might think the answer is an accident resulting in total loss, but it’s not. If a hangar roof collapses and destroys your aircraft, your insurance should enable you to replace it. On the other hand, if the airplane is only damaged in the incident, the insurer may opt to repair it, leaving you with a jet that operates just fine but has (gasp) damage history.
May 16, 2014
When you’re evaluating the state of the used-aircraft market, you need to look at more than the percentage of the worldwide fleet that’s currently for sale. You have to investigate availability in a variety of geographical areas and model-year ranges.
March 26, 2014
To start writing off your newly acquired jet for tax purposes in the U.S. you have to do more than buy it; you have to “place it in service” in your business. In recent years, the availability of “bonus” depreciation has only upped the ante on satisfying this Internal Revenue Service requirement.
“I have an obligation to get you to your destination. You have an obligation to pay. What else is there? We don't need 24 pages of legalese.”
-VistaJet founder and chairman Thomas Flohr, on the company's unusually brief, easy-to-understand contracts
February 1, 2012
January 12, 2012
December 1, 2011
May 30, 2013
November 26, 2012
December 5, 2012
April 30, 2012
August 14, 2014