New and repeat business aircraft buyers in the U.S. quickly realize when purchasing a business aircraft that the Federal Aviation Regulations (FARs) unavoidably and significantly impact a buyer’s business, tax, structuring, and other major decisions. The FARs even induce some buyers to purchase a different aircraft than they originally envisioned due to limits on flight operations at particular airports.
The key FARs for business aviation—14 CFR Part 91 and 14 CFR Part 135—also affect personal liability; taxes; aircraft operating expenses; employee, risk, and aircraft management; potential charter revenue; and flight support services. In other words, deciding whether to operate under Part 91 and Part 135 represents the takeoff—not the destination—for many essential structuring and planning aspects of aircraft ownership, financing, operations, and management.
David G. Mayer is a member of the global Aviation Practice Group at Shackelford, McKinley & Norton in Dallas, which handles private aircraft matters, including regulatory compliance, tax planning, purchases, sales, leasing and financing, risk management, insurance, aircraft management and operations, hangar leasing, and related corporate work. Mayer frequently represents corporations and high- and ultra-high-net worth individuals and other aircraft owners, flight departments, lessees, borrowers, operators, sellers, purchasers, corporations and managers, as well as lessors and lenders. He can be contacted at [email protected].
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