Washington, DC, June 26, 2014 – The National Business Aviation Association (NBAA) has released a new publication for anyone considering buying or selling a business airplane: the NBAA Aircraft Transactions Guide. The guide was developed with contributions from the NBAA Tax Committee and operators with experience in business aircraft transactions.
“Acquiring a business aircraft involves careful regulatory, tax and financial planning, as well as considerations of how to shape the transaction and the ownership structure,” said Scott O’Brien, NBAA senior manager for finance and tax policy. “This guide provides an introduction to those issues and organizes all the key elements of an aircraft transaction in one source.”
The NBAA Aircraft Transactions Guide includes background on the most relevant regulations from the Federal Aviation Administration (FAA) and U.S. Department of Transportation (DOT), and covers federal and state tax issues, all of which affect decisions about the aircraft ownership structure. The guide also details the various steps of the aircraft transaction process, from the letter of intent to the closing.
“This guide was developed for NBAA Members that are relatively new to aircraft transactions or those looking for a refresher, and is designed to serve as a checklist to reference throughout the process,” said O’Brien. “It’s not intended to replace your advisors, but rather to help you ask the right questions of your advisors at every stage.”
Beginning with an overview of how to build an acquisition team, the guidedescribes stages, such as the pre-purchase inspection, and provides key considerations on closing documentation and where to take delivery.
“NBAA and the Tax Committee have always provided guidance on the aircraft transactions process, but Members have expressed a desire to have all the relevant information in one simple resource,” said O’Brien. “This guide lays out all the considerations from the perspective of the buyer and seller.”
Founded in 1947 and based in Washington, DC, the National Business Aviation Association (NBAA) is the leading organization for companies that rely on general aviation aircraft to help make their businesses more efficient, productive and successful. The Association represents more than 10,000 companies and provides more than 100 products and services to the business aviation community, including the NBAA Business Aviation Convention & Exhibition, the world's largest civil aviation trade show. Learn more about NBAA at www.nbaa.org.
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