A recent NBAA News Hour webinar answered some common questions regarding insurability of business aircraft held under an LLC. In fact, there were so many questions that they couldn’t all be addressed during that webinar, so we’ve brought back three of the presenters to answer them. One common concern is how to identify a dry-leased, LLC-registered aircraft that could actually be considered an illegal charter operation. “It’s a balance of flexibility versus responsibility,” notes attorney Kent Jackson. “If you really have flexibility in making decisions about the use of the leased airplane, and you understand you have the responsibility for those decisions and the use of the aircraft, it’s probably legal.”
In this episode of NBAA’s “Flight Plan,” host Rob Finfrock speaks with:
Joanne Barbera, partner at Barbera and Watkins, LLC
Kent Jackson, partner at JetLaw LLC
David Norton, partner and head of aviation practice at Shackelford, Bowen, McKinley & Norton
Although business aviation is not a cause of aviation system delays, weather and other factors can pose unexpected travel challenges. If business aviation is in your planning this holiday season, it's best to prepare for potential delays.
Even if the insurance policy for your aircraft is labeled as a ‘worldwide policy, it probably isn’t, say experts. Aviation insurance brokers share tips on what you should pay attention to regarding aircraft coverage for international trips.
Attracting the next generation of business aviation professionals is a top priority throughout the industry, and local and regional groups are often the first point-of-contact for students and young people seeking information about the industry and its potential opportunities.
The end of the year is often a stressful time for business aircraft operators that are grappling with tax issues, particularly if they've purchased an airplane hoping to take advantage of higher bonus depreciation rates. Aviation managers shouldn’t wait until the final weeks of the year to develop their tax strategy.