A September 7 creditors meeting is expected to appoint liquidators to handle the assets of the UK-based Ocean Sky group’s aircraft charter, management and brokering divisions.
NBAA’s No Plane-No Gain information campaign was created several years ago to combat the image of business aircraft portrayed in mainstream media as the private conveyances for top-level company executives heading to a teetime.
Financial records at French air charter operator Blue Line are being scrutinized following the company’s compulsory liquidation on October 6 with debts of €37 million ($52 million). The suddenness of the 200-employee company’s demise prompted the judge in charge of the liquidation to tap a certified public accountant to investigate Blue Line’s financial affairs. A preliminary report is to be released by year-end.
At a time when some see business aviation as an unnecessary extravagance, a new study sponsored by NBAA, the General Aviation Manufacturers Association and others has concluded that over a broad range of uses, business aircraft can materially benefit shareholders.
NBAA and the General Aviation Manufacturers Association (GAMA) today welcomed the release of a new study that indicates companies using business aviation outperform those without aircraft.
In a letter to USA Today, NBAA president Shelley Longmuir said the newspaper’s August 5 article on corporate aviation ignored the “demonstrated and over-arching benefits” of business aviation.
Frost & Sullivan’s “World Business Jets Market: Investment Analysis” released last month says that strong corporate profits and more orders from China, Russia, India and other fast-growing countries are driving continued demand for business jets. “Previously, the increase in demand for business jets lagged one to two years behind corporate profit increases.
The Federal Election Commission (FEC) last month adopted proposed changes to its rules governing the legal rates and timing of travel payments by political candidates, those traveling with candidates and those traveling on behalf of candidates in connection with federal elections on private aircraft, including those operated under Part 91.
April 8 is the closing day to submit comments on a proposal to permit operations of U.S.-registered aircraft owned by a non-U.S. company to use the options of FAR 91.501 without obtaining a “foreign aircraft permit.” Under existing rules U.S.-registered aircraft are considered foreign-owned when the management and/or board of directors of the corporation are not composed entirely of U.S. citizens.
In a statement released December 20, health and security assistance provider MedAire announced that its two largest shareholders have reached a letter agreement “outlining mutual goals and strategies relating to the direction and control of MedAire” that would effectively place control of the company in the hands of its largest competitor, International SOS (ISOS).
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