Executives at Cessna Aircraft Co. said at the opening of the annual Aircraft Owners and Pilots Association (AOPA) Aviation Summit last week in Long Beach, Calif., that the company has seen an increase in customer interest in its single-engine piston attributed to the recent extension of the federal bonus depreciation tax clause included in a small business stimulus bill recently passed by Congress.
“It is still too early to say to what extent the legislation will have on end-of-year sales numbers, but we can say we’ve seen a noticeable increase in activity in the market since passage of the bill in September,” said Mark Patterson, Cessna director of propeller aircraft sales.
Under terms of the Small Business Jobs Act of 2010, aircraft purchased as a business tool between Jan.1 and Dec. 31, 2010, may qualify for accelerated depreciation equal to 50% of the purchase price, in addition to regular depreciation allowed on the remaining 50%.
The bonus depreciation clause of a similar law, which expired at the end of 2009, was, according to customers surveyed, a major factor in 41% of Cessna’s domestic aircraft sales in the fourth quarter last year, company officials said.
For more information: Cessna.com
