Teddy Forstmann, the man who was credited with turning around Gulfstream Aerospace in the 1990s, died Sunday, reportedly from brain cancer. His investment firm, Forstmann Little, acquired Gulfstream in 1990 for $800 million.
The Middle East Business Aviation Association (MEBAA) launched an aviation insurance group discount program for members on Tuesday at the Dubai Air Show.
Four of NetJets’ subsidiaries–NetJets Aviation, NetJets International, NetJets Large Aircraft and Executive Jet Management (EJM)–are suing the U.S. government over a $642.7 million IRS tax bill for past federal excise taxes (aka “ticket tax”) and assessed penalties and interest.
The Middle East Business Aviation Association (MEBAA) and Gates & Partners, the London-based international law firm, will hold a free one-day seminar at the Dubai Air Show on Wednesday, November 16.
If you’re gainfully employed in business aviation, odds are you vote Republican and cheerlead for robust capitalism, and that’s understandable. Nobody with a mortgage and kids to educate is inclined to bite the hand that feeds, and capitalism-created wealth is what pays the bills for all of us in this business.
My job at this month’s NBAA show in Las Vegas was to present our AINtv webcasts. I’ve been working on AINtv since its launch in 2006 and it really is great fun—in fact, don’t tell my boss, but it’s light relief from the daily grind of churning out articles for AIN’s print and online editions.
According to JPMorgan North American Equity Research’s latest business jet monthly report, business jet deliveries will remain flat this year at about 549 aircraft, 47 percent below the peak in 2008, but this could rise to more than 650 next year.
Insurance giant AIG appeared closer to proceeding with plans to wind down its exposure to the aircraft leasing business when on September 2 its ILFC unit filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering.
Despite the increasingly uncertain economic outlook, trading conditions for companies making their living from the air transport aftermarket are improving, according to analysts at Swiss bank UBS.
The Independent Fixed Base Operators Association (IFBOA) and insurance provider QBE Holdings have announced the creation of a new insurance program for the association’s members. According to IFBOA, the program will provide workers’ compensation insurance at competitive rates while allowing participants to earn an annual return on those costs while taking advantage of the group’s purchasing power.