Swan Song
Very Light Jets have been on the leading edge of the current financial crisis with most newly minted manufacturers and commercial operations being the first to experience the constipation in the credit markets. Financiers began abandoning the market in droves as early as August 2007 at a time when some where... [read more]
And Then There Was One
That is the number of bidders for Eclipse, prompting the bankruptcy court to cancel last week’s auction for the Eclipse Aviation assets, in favor of the planned takeover by ETIRC. The sale must still be approved by the bankruptcy court which had scheduled a hearing at press time last Friday. Creditors...
House Includes Aviation Spending in Stimulus Package
It is little wonder that aviation groups differed on their take of the House stimulus package with Air Transport Association expressing disappointment and the American Association of Airport Executives applauding the bill which was $500 million short of the $4 billion industry request. Very simply, the...
NBAA Responds to TARP Revision
An amendment to the Troubled Assets Relief Program (TARP) introduced over a week ago bans the use of business aircraft by companies tapping into the program, according to the National Business Aircraft Association. The unintended consequences of the provisions will put the jobs of tens of thousands of...
New Law Yields Savings for Aircraft Owners
A new West Virginia law, which drops property tax obligations up to 95 percent, will probably be attracting a lot of aircraft owners. The tax code enacted in 2008 assesses corporate, commercial and other business aircraft at the lower of fair market salvage value or five percent of the aircraft’s...
New Low-Cost Technology for Runway Incursions
The first contract to install and test a low-cost ground surveillance system that would improve runway safety at small to medium-sized airports was awarded to Thales ATM by the Federal Aviation Administration (FAA). “Sometimes the simplest ideas are the best ideas,” said Acting Administrator...
Cessna Cuts Workforce
Cessna is cutting an additional 2,000 workers from its 12,000 employee corps in order to ensure its long-term stability, according to the company, which plans to offer a voluntary layoff program. This is the second round of cuts after last month’s 60-day layoff notice for 500 and 165 working in Wichita...
Great Lakes Expo Sold Out
The Great Lakes Aviation Conference has sold out the majority of exhibit space for this year’s event scheduled for in Novi, Mich. “Despite the current economy, many companies and exhibitors are trying to reach the individual pilot, maintenance personal and other aviation professionals in non...
|
