How can you find the best lender to finance your new airplane? First, understand the marketplace, advises David Madden, who is a pilot and executive vice president of Aircraft Banking.Com. There are many ways to buy an airplane: with cash, going down to your local bank, using a broker or going to a finance company. […]
The tax man cometh: Can you hide?
What can you do to avoid paying sales tax – legally – on your new airplane? “Don’t buy it,” jokes Ray Speciale, a pilot, lawyer and CPA with Yodice Associates, a Maryland law firm. Other than that, there’s “no surefire way” to beat the tax man, he says. “Often we hear you should incorporate in […]
10 things you can do to save money on insurance
It’s an expense all airplane owners have to pay, many grudgingly. Just why do we need insurance anyway? “Aviation is terribly unforgiving of any carelessness or neglect,” says Greg Sterling, general manager of the Aircraft Owners and Pilots Association Insurance Agency Inc. Well then, why is it so expensive? “In the global insurance business, aviation […]
Potomac Airfield to reopen by Christmas
Pilots based at Potomac Airfield (VKX) in Maryland may have their airport open again by Christmas. The Transportation Security Administration closed the airport in early November, after federal officials said it was not complying with security measures adopted for all three airports in the Washington, D.C., Air Defense Identification Zone (ADIZ). Potomac Airfield Manager David […]
‘Fuddy Duddy’ for sale
Looking for an airworthy B-17? “Fuddy Duddy” is up for sale. The yellow-tailed flying fortress, which belongs to the Wings of Eagles Discovery Center in Elmira, N.Y., is one of only a dozen airworthy B-17s left in the world. Asking price: $3.5 million. Mike Hall, director of the Discovery Center, notes the decision to put […]
Top questions about owning an airplane
The aviation services department of the Aircraft Owners and Pilots Association (AOPA) gets a lot of calls about aircraft ownership. Here are the most common: Q: How can I determine the true value of an airplane? A: You can use the AOPA website (AOPA.org) to determine an airplane’s value. Keep in mind that there are […]
It takes a village to buy an airplane
An African proverb says it takes a village to raise a child. It also takes a village — and a pile of money — to buy an airplane. Given the amount of money involved, it pays to do your homework and assemble an acquisition team. Consulting firm Conklin & de Decker says the first person […]
Reader survey a success, prize winners announced
More than 400 readers responded to the recent General Aviation News reader survey, while another 100 responded to the survey in our sister publication, The Southern Aviator. All readers who responded received a three-month subscription (or an extension for current subscribers), as well as a chance to win one of three prizes generously donated by […]
Cessna wins Caravan lawsuit
A jury in Anchorage, Alaska, has favored Cessna in a lawsuit concerning the crash of a Caravan near Dillingham in October 2001. The plaintiffs were related to the 10 people killed in the crash. The plaintiffs’ lawyers claimed that design defects made the Caravan dangerous to fly in icing conditions. The jury, agreeing with the […]