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Provides an introduction to the regulatory, tax, financial and transactional issues that come together during an aircraft acquisition. Learn More
Provides a synopsis of the offerings currently available in the Light Business Airplane (LBA) category to assist companies in their purchase planning. Learn More.
The Cape Town International Registry protects financial interests in aircraft and engine transactions. If certain criteria are met, domestic and international aircraft and engine transactions are subject to the registry. Learn More.
Under Section 1031 of the Internal Revenue Code, gains from the exchange of like-kind properties may be exempt from taxation. Learn More.
Details on registration of aircraft to U.S. citizen trustees in situations involving non-U.S. citizen trustors and beneficiaries. Learn More.
Part 375 of the Department of Transportation regulations restricts the operation of foreign civil aircraft including both foreign registered aircraft and U.S. registered aircraft owned, controlled, or operated by non-U.S. citizens. Learn More
- Cape Town International Registry Protects Aviation Assets
- July 13, 2015
While there can be confusion surrounding the Cape Town International Registry (CTIR) established by the Cape Town Convention, owners and operators should be aware that it exists to facilitate transactions and protect interests in aviation assets – airframes, helicopters or engines – of a certain size. Currently, nearly 60 countries have ratified the Aviation Protocol to the CTC, and the CTIR allows parties to register interests in applicable "aircraft objects," according to Joel Bulleigh, an attorney with the aviation group of McAfee & Taft, who compared the CTIR to a records office where parties to real estate transactions file documents as part of real estate closings. Read more about the CTIR
- FAA, DOT at Odds Over Revised Guidance for Aircraft Held in Non-Citizen Trusts
- Feb. 10, 2014
A recent memo issued by the Office of Inspector General at the Department of Transportation (DOT) outlined several misgivings about guidance issued by the FAA last year regarding oversight of aircraft held by non-citizen trusts (NCTs). Registering an aircraft through an NCT allows owners to register on the United States aircraft registry under an N-number, even if they are not a U.S. citizen or legal resident, through use of a U.S. citizen trustee. Read more about this issue
- Global Nature of Business Aviation Marketplace Brings New Transaction Challenges
- Feb. 6, 2014
Obtaining an FAA airworthiness certificate, ensuring a clean title and paying any applicable customs duties are just a few difficulties unique to importing an aircraft. James Meyer, a partner at Harper Meyer Perez Hagen O'Connor Albert & Dribin, LLP, and a member of the NBAA Tax Committee, specializes in aircraft transactions and strongly urges buyers to carefully plan the aircraft importation process and assemble a team of experts. Among his suggestions are: hire a designated airworthiness representative, a customs broker and even legal counsel in the sale aircraft's current state of registration. Learn more about importing an aircraft
- What’s The Cape Town Registry? NBAA Offers a Refresher
- August 30, 2013
A question often fielded by NBAA staff and on Air Mail is: "What is the Cape Town International Registry?" The registry was designed by an international treaty to protect financial interests in aircraft and engines. In 2001, to make consistent sense of different nations’ and territories’ laws and regulations, representatives from many countries and international organizations met in Cape Town, South Africa, at the Convention on International Interests in Mobile Equipment. Learn more about the Cape Town International Registry.
- Coalition Submits Comments on FAA Non Citizen Trusts
- August 20, 2012
An industry coalition, in which NBAA is involved, submitted substantive comments to the FAA regarding Non-U.S. Citizen Trust aircraft registration. In an effort to address key issues and further elaborate on the industry’s position, the industry prepared a supplemental submission which focuses on concerns for non-operators, facilitating the information flow and access to records and aircraft, the submission and non-disclosure of operating agreements, the removal of the trustee for specific cause, as well as a revised trust agreement. Learn More.
- Consider Insurance If Moving Aircraft Off FAA Registry
- March 26, 2012
Some companies need to move an aircraft to a foreign subsidiary or grow weary of dealing with the US regulatory and tax issues and may want to examine the option of moving their aircraft "off-shore". While this may sound appealing, the issues are complicated and varied. This subject was addressed in a presentation (734 KB, PDF), and a new article addressing insurance considerations now is available. Authored by NBAA’s Aviation Insurance Committee Member, Christa Hinckley, the article discusses policy and risk management considerations aircraft owners must be aware of before moving an aircraft to a new Registry. Review the article (33 KB, PDF).
- Aircraft Purchase Market Can Be Challenging, But Not Impossible
- May 9, 2011
While the business aircraft market is seen to be slowly recovering, the difficulty of securing financing makes purchasing an aircraft today much more challenging than it was before September 2008. “The time required to close the financing is often much longer,” said Jeff Wieand of Boston Jet Search. Bankers recommend that buyers be prepared to make the case for how the aircraft will help them achieve their business goals. Read more.
- Exploring Treatment of Monetary Deposits in Aircraft Transactions
- August 23, 2010
It is common for buyers of business aircraft to place "fully refundable" deposits in escrow when entering into a letter of intent or purchase agreement. A new article, provided by NBAA Tax Committee Member Keith Swirsky, addresses issues concerning monetary deposits, such as "back-to-back" transactions and whether a seller can obtain forfeiture of a deposit in such transactions; the typical approach of Oklahoma City title and escrow companies in the event of a dispute concerning the deposit; and best practices. View the article.
- New, Onerous FAA Aircraft Registration Regulations Published
- July 19, 2010
The FAA had estimated that approximately one third of aircraft registrations are no longer valid. To rectify this, the FAA published new regulations regarding aircraft registration. Over a three year period, FAA will terminate the N number registrations of all aircraft registered before October 1, 2010, and will require the re-registration of each aircraft. Aircraft registrations will be valid for three years and registration certificates will include the expiration date. The FAA will cancel the N-numbers of aircraft that are not re-registered or renewed. Learn More.
- NBAA Urges Owners to Exercise Caution with FAA Registry Priority Requests
- August 4, 2006
Aircraft owners filing an initial N number registration or change to the aircraft registration, when requesting priority registrations from the FAA, must declare an international flight and provide proof of the upcoming flightt. Under new FAA policy, effective August 1, 2006, all Declarations of international flights will be compared with actual flights. Review the FAA guidance.