Fiduciary services specialist Equiom, based in the Isle of Man with offices in Jersey and Malta, is at EBACE (Booth 625) to highlight its range of services for aviation clients and its new customs warehousing service. Equiom’s offerings include ownership structuring and multi-jurisdictional VAT, tax and registration services. The company said it specializes in creating bespoke solutions to meet exact client needs, and EBACE provides an excellent face-to-face meeting point.
As the U.S. expressed “concern” on Tuesday over the devaluation of China’s currency, making its exports cheaper but reducing the buying power of Chinese consumers, Chinese airlines continued to feel the pain of a weaker yuan as the value of their foreign debt rose with the relative strengthening of the U.S. dollar. China Southern Airlines, for one, on Tuesday issued a profit warning report estimating a first-quarter net loss resulting from negative foreign exchange fluctuations.
In an op-ed piece, NBAA president and CEO Ed Bolen challenged the Washington Examiner’s “mischaracterization” of long-standing tax deprecation policies on the purchase of business aircraft as a “loophole.” “Some in Washington are trying to score political points by characterizing business aviation as a convenience, or even a luxury, rather than a necessary tool for competitiveness,” Bolen said. “In fact, for businesses, an aircraft is as much a necessity as a computer.
Europe had the highest market share of commercial helicopters in 2013, and more growth is expected this year in offshore oil and gas, EMS and SAR services. HeliTech (Booth No. 4123) has picked up a new and powerful partner to help promote participation in its USA Pavilion during the European Helicopter Association’s Helitech International show, taking place from October 14 to 16 in Amsterdam.
The Single Aviation Market (SAM) of the 10-member Association of Southeast Asian Nations (ASEAN) is not coming about as fast as some had hoped–the aim had been by 2015. This is despite the advantages they see through liberalization of air services under a single and unified air transport market.
Not long ago it was a real struggle for charter operators to get slots into Japan’s Narita International Airport and every other Japanese airport for that matter. Thankfully, for charter operators around the world, Japan has adopted a much friendlier approach to business aircraft operations.
The Japanese Civil Aviation Bureau (JCAB) and Japanese Business Aviation Association (JBAA) announced on October 21 that the county is implementing new charter operations regulations based on FAA Part 135 standards.
The Association of Southeast Asian Nations (Asean) open-skies agreement, to be implemented by 2015, will open up big business in the region for aircraft OEMs, according to Dinesh Keskar, Boeing Commercial Airplanes senior v-p of sales Asia-Pacific and India. The agreement is intended to boost connectivity and increase traffic growth by granting open market access to all international airports in Southeast Asia to airlines of the 10 Asean member states.
China’s Xiamen Airlines has signed a letter of intent with GE Aviation for GEnx-1B engines to power its six Boeing 787s, along with a 10-year service agreement for the airline’s GEnx-powered fleet. The list price of the order and service agreement is valued at more than $560 million. Delivery of the aircraft is to begin incrementally starting in July 2014.
China broke into the ranks of the five largest arms exporting countries for the first time since the end of the Cold War, displacing the UK in the volume of arms deliveries, according to a report by the Stockholm International Peace Research Institute (Sipri). The UK dropped from the list for the first time since at least 1950, the Swedish institute said.
StandardAero announced that its components business in Cincinnati, Ohio, has been designated a foreign trade zone. FTZs are sites approved by the Foreign Trade Zone Board where imported goods can be stored or processed with duty-free treatment on items that are re-exported or where duty payment can be deferred.
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