The successful purchase of an aircraft requires the engagement of different professionals.
Transaction Highlights
Represented the purchaser of a Gulfstream GV in connection with its purchase and import from the United Arab Emirates, and related financing.
Represented an aircraft owner in connection with arrangements for having its aircraft appear in the MGM major motion picture James Bond 007 Casino Royale starring Daniel Craig.
Represented aircraft owner in connection with the acquisition of Dassault Falcon 900 as part of synthetic lease financing and reverse 1031 exchange involving synthetic lease.
The Right Team
The successful purchase of an aircraft requires the engagement of different professionals.
Aircraft Brokers and Technical Consultants – an experienced aircraft broker or consultant can greatly reduce the burdens of the purchase on the client. They will have extensive knowledge of the types of aircraft available in the marketplace and will be able to educate the client on which types are best suited for the client’s mission. When the aircraft undergoes a pre-purchase inspection, the broker or technical advisor will monitor the inspection to ensure that the client’s interests are being represented. Our experience is that aircraft represented by qualified and experienced technical advisors have more thorough inspection results if being purchased, and more limited repair costs if being sold.
Escrow Agent – the escrow agent will do more than simply hold funds in an aircraft transaction. The escrow agent will issue a lien and registration search, make the necessary filings of legal documents with the FAA Civil Aircraft Registry and on the International Registry, and coordinate with aviation counsel. Escrow agents may be third party service providers or local FAA counsel in Oklahoma City.
Insurance broker – an experienced insurance broker will be able to recognize the needs of the client given the use and type of aircraft purchase. The cost of insurance may vary drastically among various providers. While we always recommend clients purchase the maximum amount of insurance that they can afford, an insurance broker will know what the current industry standards are for the particular aircraft.
Tax and Accounting Professionals – it is important that the client and aviation counsel coordinate structuring the ownership and operation of the aircraft as soon as possible after a determination has been made to acquire a business aircraft. The sooner these professionals can be brought onto the team (whether they be the client’s in-house professionals or outside accountants) the more efficient the transaction will be implemented. Time and money is often wasted when these issues are left to the end to address.
AVIATION RESOURCES
KEEPING YOU ON COURSE
We are experienced in working with tax, legal and financial advisors of companies of all sizes in addition to family offices, to implement appropriate operating structures and planning objectives. For first time business aircraft buyers, we can quickly assemble a team of experienced industry professionals and others to assist the client with business, technical and other aspects of an aircraft purchase and ongoing aircraft management under Parts 91 and/or 135 of the Federal Aviation Regulations.
One of the challenges of using aircraft in business is understanding the effect of personal use on an executive and the company, and strategies for addressing income tax issues.

Personal Use
Letters of intent are an important start to most aircraft transactions, and failing to give them the proper attention can create costly misunderstandings.

Letters of Intent
Understanding the aircraft acquisition process is important in order to avoid common pitfalls and costly mistakes.

Aircraft Acquisition Process
In order to register an aircraft with the FAA, an individual or company must meet specific requirements. There are methods available for non-U.S. citizens to register aircraft with the FAA.

Aircraft Registration
Public Companies have unique concerns when purchasing corporate aircraft and structuring their operations, including from the perspective of SEC disclosure of non-business use, security and confidentiality.

Public Companies
Acquiring an aircraft currently registered outside the United States takes careful planning and requires answering some fundamental threshold questions. Exporting aircraft may not require the payment of duty, but failure to make appropriate customs entries can be costly.

Import / Export
Planning opportunities exist that can defer or even eliminate the imposition of sales and use taxes in almost every state.

Sales and Use Tax
In addition to aviation counsel, a successful transaction requires having experienced aviation professionals and tax advisors.

The Right Team
Our attorneys are experienced with helping clients navigate the often counter-intuitive rules of the FAA and other regulatory authorities.

The Dilemma of Single Purpose Entities
When acquiring an aircraft, several financing alternatives are available. Which is right for you?

Financing Options
THE RIGHT TEAM. THE RIGHT DEAL.
There is one thing that a safe pilot has in common with a good aviation transaction lawyer: experience — experience with navigating the routine and complex transactional issues, none of which are the same in every deal, but all of which demand in-depth knowledge.
- Stewart Lapayowker