Tail Number Changes, Tail Number Changes, Tail Number Changes! Oh My!

The Federal Aviation Administration (FAA) recently issued proposed civil penalties ranging from $63,000 to $91,000 against three companies for alleged violations of Hazardous Materials Regulations (HMR). One such violation was for failing to properly mark a box containing two 12-ounce cans of spray paint. Applicable Hazardous Materials Regulations are complex and require the proper marking, labeling, and packing of hazardous…

Top officers at large companies and ultra high net worth individuals,like celebrities, are often surrounded by trusted managers, advisers and others. Although the aircraft is a business asset, it also is typically a purchase in which the principal has personal and intimate involvement. This can result in direct participation by the principal in the minutiae of the acquisition instead of…

When acquiring a corporate aircraft, buyers must be aware of the various requirements that will be necessary to complete the purchase and make use of the aircraft. Under FAA guidelines, an aircraft may not operate in flight without a Certificate of Airworthiness. In the past, most corporate aircraft sold and purchased in the U.S. was between U.S. companies. As a…

When purchasing a corporate aircraft, there are several important steps that must be taken after a buying team has been established. First among these important steps is the creation of a Letter of Intent (LOI). The buyer and seller should work closely together to negotiate and sign the LOI for the aircraft’s purchase. While a LOI is a small document,…