Due Diligence in Aircraft Sales: Do You Know Who You’re Selling To?

When buying, selling or leasing business aircraft, experts agree it is absolutely essential to utilize an experienced aviation counsel.

The grounding by the FAA of approximately 800 general aviation aircraft registered through a U.K.-based trustee highlights the need for operators to conduct thorough due diligence when utilizing an owner trust to facilitate U.S. aircraft registrations.

Association members should be aware that the FAA Registry in Oklahoma City, OK, will be closed all day Thursday, Jan. 1 for the federal holiday.

NBAA’s business aircraft tax experts offer their insight on what is changing, who operators should reach out to for support and what are the best practices for avoiding potential trouble in the coming year.