NBAA has joined other organizations in urging Congressional leaders to continue stimulating business capital expenditures by extending the accelerated, or “bonus,” depreciation that is set to expire at the end of this year. In a letter sent to both houses of Congress yesterday, the groups said, “It is imperative that we continue the 50-percent bonus depreciation…for 2013 and beyond. This will provide some certainty to U.S.
Regulations and Government » Government
News about governmental decisions affecting aviation and aerospace.
With bankruptcy court approval yesterday of Hawker Beechcraft’s disclosure statement filed with its joint plan of reorganization (POR), the company’s emergence from Chapter 11 appears to be accelerating. The court’s move allows Hawker Beechcraft to begin soliciting approval of the POR from its creditors.
Hawker Beechcraft, which reported a $44 million net loss and $95 million negative cash flow in October, followed that filing with the bankruptcy court by reporting in a separate filing a sales forecast of $1.9 billion in 2013 as a new, standalone company following its emergence from bankruptcy in February.
President Obama closed the legislative loop on U.S. refusal to comply with the European Union’s Emissions Trading Scheme (EU-ETS) on Tuesday, when he signed S.1956, a bipartisan measure that orders the Secretary of Transportation to prohibit U.S. aircraft operators from participating in the carbon tax plan.
A major hurdle facing Hawker Beechcraft in its effort to restructure and emerge from Chapter 11 bankruptcy is the sale of the Wichita OEM’s inventory of Hawker 4000s. The hearing date for the company’s request for court approval of the sale is now set for December 11, following a decision last week by judge Stuart Bernstein to deny the company’s request for an expedited hearing and sale.
Operations of the latest version of Eurocopter’s ubiquitous light single, the AS350B3e Ecureuil/AStar, have been affected by an emergency service bulletin and accompanying emergency airworthiness directive (AD).
Under the restrictions, the helicopter’s true airspeed is limited to 100 knots to reduce dynamic loads on the tail rotor. In addition, repetitive inspections must be conducted, with maximum intervals of three flight hours, on the laminated half-bearings.
The aviation industry is urging quick confirmation of Michael Huerta as FAA Administrator by the full U.S. Senate. Earlier this week, Sen. Jim DeMint (R-S.C.) rescinded a hold on the nomination of Huerta that he placed last summer. DeMint contended that Republicans shouldn’t appoint anyone as FAA Administrator until the Presidential election was decided. Huerta has served as acting FAA Administrator since Randy Babbitt resigned last December.
A bankruptcy judge declined to sign an order yesterday allowing Hawker Beechcraft to expedite the sale of approximately 13 new, three in-production and four used Hawker 4000 business jets. On November 16, the company had asked for court authorization of the sale “for the best price possible under the circumstances, on an ‘as-is-where-is’ basis, with no warranty or support commitments.”
Vancouver-based Avcorp won a $24.7 million award yesterday from Cessna Aircraft due to damages suffered as a result of the Wichita aircraft manufacturer’s transitioning contracted production work from Avcorp. The two parties could not come to terms in mediation and negotiations after the December 2010 announcement about the transition of Avcorp’s production work to Cessna, so the matter was referred to binding arbitration. The arbitrator ruled in favor of Avcorp and all counterclaims from Cessna were denied.
The NTSB released its annual “Most Wanted” list of safety improvements yesterday, with only one change from last year. Fatigue was removed and replaced with “preserving the integrity of transportation infrastructure.” NTSB chairman Deborah Hersman said that changes to the list represent progress made, or acknowledge that there are other areas “ripe for change” in a given year. “We’re releasing the list now so it is available to policymakers at the state and federal levels, as well as industry groups, as they craft their priorities for 2013,” she explained.