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EFFICACY, EFFICIENCY AND PROFITABILITY IN AVIATION
BUSINESS
Why Use An Aircraft Purchase Agreement?
It always surprises me when a potential aircraft buyer is unsure of whether he or she should use a purchase agreement when buying an aircraft. Most of these individuals have purchased homes and no doubt used a purchase agreement in such transactions. Yet, many of these same individuals would spend the same amount of money to purchase an aircraft, and often times a great deal more money, without the protection of a written aircraft purchase agreement.
“How safe is it?” Along with “How much does it cost?” this is a question we often hear when someone is considering flight training as an option for depleting his or her discretionary income. Our industry has experienced a marked reduction in overall accidents and statistically, a 27.8% reduction in the most recent 7 years! During this same time period General Aviation fatal accidents dropped 32.6% to just over 1 fatality for every 100,000-flight hours.
Of these accidents, 80% are either partially or completely pilot induced, with weather related accidents and controlled flight into terrain (CFIT) accounting for the majority of fatalities.
In a recent column, Ann Coulter expressed indignation regarding an apparent Federal Aviation Administration policy not to perform searches on more than two Arabs at a time. I was not aware of this policy, but not surprisingly, Coulter would like all Arabs stopped and searched. You know, because they’re Arab. I think Coulter is applying some sort of twisted logic to this subject. Something along the lines of, “The terrorists that attacked the United States on 9-11 were Arabs. Therefore, all Arabs are terrorists.” In essence, Coulter is advocating racial profiling. Which is an odd position for an attorney with a background in constitutional law to take. Innocent until proven guilty? Not if you look like you are an Arab. It was John Lehman, a member of the 9-11 Commission, that had brought attention to the policy that prohibits airlines from searching more than two Arabs at a time. To this, Coulter writes, “In a sane world, Lehman’s statement would have made headlines across the country.that it is official government policy to prohibit searching more than two Arabs per flight.”
In the hours and days immediately following the tragic attacks on America of 9/11, there was much speculation about the effects on the general aviation industry. While the events of September 11, 2001 have had a significant impact on the economy as a whole, sales of personal aircraft in Michigan have experienced a surprising boost. Certainly, the convenience of personal transportation has played a major role in this increase as airport lines and security have become more time consuming. The reduction of flights resulting from the airline cost-cutting have limited flexibility for the business person and affected the productivity of companies relying on commercial transportation.
These factors alone can’t explain surge of people joining the flying community for more than just pleasure. Rebates, low and 0% interest rates, training allowances, and yes, even the IRS played a role in creating an environment that has introduced more people to the benefits of aircraft ownership and had an effect similar to that seen after the passage of the General Aviation Revitalization Act of 1995.
Most countries have laws regulating the airspace over their lands. Each time an aircraft enters a foreign country’s airspace, the aircraft operator must comply with that country’s regulations affecting flight operations and the carriage of passengers. Particularly with respect to passengers, the majority of countries have rigid limitations on who may be carried within their borders and how.
By Gregory J. Reigel
If you provide storage, repair, maintenance or other services to aircraft, you have the ability to assert a lien on that aircraft and retain possession until you have been paid. This is commonly referred to as a mechanic’s lien.
The Decision Maker’s Most Critical Tool – Part 1
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As certified fraud examiners (CFE), we all know the nuts and bolts of our
respective areas of specialty, and hopefully, we are all growing professionally at
As snow covered the trees last fall, and you plugged in your Tanis Heater, did your stomach feel sick with regret? Did you wish you had flown more, visited more places in your airplane, spent time at OshKosh? How many beautiful summer days passed that you didn’t take advantage of?
Why not make this year different? With a little planning you could put together a list of places to visit so that your plane never sits on the ramp on a beautiful summer day!
“The Internet has opened a whole new world of opportunity for even the smallest home-based business owner. There is countless number of new self-made millionaires that achieved their newfound success on the Internet. These new millionaires are no different from you and I. They started their Internet business from the ground … found a niche and built their success one day at a time” Shelly Lowery
