China Business Aviation Group (CBAG, Booth H420), founded in 2010 by business aviation veteran Jason Liao, chairman and CEO, is continuing its efforts to boost the region’s business aviation industry and become its leading services provider. Here at ABACE yesterday it announced agreements with engine-care specialists Jet Support Services, Inc. (JSSI, Booth H418), flight crew employment agency ACASS (Booth H217) and business aircraft sales and charter company China Hongly Aviation Group.
Financing, Insurance and Taxes
Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.
Born in 2011 from the spinoff of Regourd Aviation’s helicopter department, Heli Asset is a global helicopter sales and acquisition service that manages its brokers and clients in what it says is a fresh, new way. The Paris-based company has offices on six continents and is currently offering 11 helicopters for sale.
Global helicopter lessor Milestone Aviation Group of Dublin, Ireland, placed orders for up to 74 helicopters from Eurocopter and Sikorsky worth more than $1.75 billion today at Heli-Expo 2013, which opened this morning in Las Vegas. These additional helicopters will double the assets at Milestone.
Helicopter Association International (HAI) president Matt Zuccaro fired back at the White House following its late February call for an end to the alternate depreciation tax plan for corporate aircraft. The tax plan allows buyers of general aviation aircraft to depreciate their purchases over five years rather than the seven-year depreciation mandated for commercial aviation.
Global helicopter lessor Milestone Aviation Group of Columbus, Ohio, and Eurocopter announced at Heli-Expo ‘13 this morning purchase orders with options for up to 15 EC225 Super Puma and five EC175 helicopters, contracts worth as much as $540 million (€415 million). The valuation is based on a price of €22.5 million each for the EC225 and €14 million each for the EC175s.
Asset Insight has released a new tool that it says will enable aircraft buyers, sellers and lenders to accurately assess the maintenance condition of an aircraft in order to assign a more accurate value to it. The Amissville, Va.-based company’s asset grading process is based on algorithms analyzing the current age, hours and cycles on major areas such as airframe, engines, paint and interior for virtually any aircraft flying today, as well as the cost to repair or replace those items.
Aviation research, consulting and education company Conklin & de Decker (Booth No. 4620) has been busy during this year’s NBAA Convention. The 25-year-old company released its 2012 Aircraft Cost Evaluator, Volume II at the show, which includes 10 additional aircraft, and introduced the AircraftPedia online reference tool, available to the company’s ACE subscribers as a free add-on. AircraftPedia contains more than 2,800 drawings and historical biographies of various aircraft.
Aviation data service provider JetNet (Stand 571) of Utica, New York, is showcasing new features and upgrades to its subscriber products here at EBACE. These include a new commercial airliner database, a sales price index (SPI) option for aircraft sales professionals and interface enhancements for Mac and multi-browser compatibility, along with mobile and web-enabled device compatibilities.
The European Business Aviation Association (EBAA) is tackling the headaches facing those trying to secure funding for new and preowned aircraft with the recent formation of a finance and leasing working group to report to its associate members advisory committee (AMAC). The group will be chaired by Aoife O’Sullivan, a partner with London-based aviation law firm Gates and Partners.
Embraer has delivered the first of 13 Legacy 650s to China’s Minsheng Financial Leasing (MSFL). Minsheng signed a memorandum of understanding (MOU) for the business jets last July, and this was supplemented by an additional agreement signed at the Singapore Airshow last month for three Lineage 1000s.