FL500

Is Your Letter of Intent an Accident Waiting to Happen?

By Stewart Lapayowker / April 6, 2020 / Comments Off on Is Your Letter of Intent an Accident Waiting to Happen?

I was talking with a friend of mine (“Bill”) who has been a business aircraft pilot for more than 50 years, rated on many types of corporate aircraft. We were discussing the Asiana accident at San Francisco International Airport a few years ago in which a commercial airliner crashed on final approach. Both of us…

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Is Your Pre-Purchase Inspection Taking Too Long?

By Stewart Lapayowker / April 6, 2020 / Comments Off on Is Your Pre-Purchase Inspection Taking Too Long?

In connection with the sale of a pre-owned aircraft, an aircraft is typically subjected to a pre-purchase inspection following execution of the purchase agreement. The purchase agreement ordinarily includes an exhibit describing the scope of the inspection (that is, the tasks that will be accomplished) to be performed at the inspection facility. The parties execute…

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Are Your LOAs in the Name of the Correct Entity?

By Stewart Lapayowker / April 6, 2020 / Comments Off on Are Your LOAs in the Name of the Correct Entity?

Uncoordinated Structures and Operations In anticipation of the acquisition of an aircraft, a great deal of time is spent on establishing a tax efficient and FAA-compliant operating structure. After all of the tax, accounting, aviation and other professionals have weighed in on and agreed upon an appropriate aircraft operating structure, the documents are prepared, the…

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