Do you know how long maintenance records for an aircraft need to be kept? What about ensuring they're safely stored? And if you ever lose or destroy a record, can it be replaced with a copy? When it comes to keeping records organized and on hand, you cannot think of it in the same way you would think of a car. Losing or tossing the last receipt you have for completed auto work like an oil change, tire [...]

If you've ever purchased a home, you're already familiar with the escrow process for real estate. The whole point of escrow is to have an independent, trusted third party oversee your transaction. Escrow in aircraft sales works similarly to real estate transitions. As an aircraft buyer, it's highly recommended that you hire someone to handle escrow for you because it is a full-time job. This way, you don't need to worry too much about the paperwork, state and [...]

Cirrus Aircraft Beginning in 1984 with founders Alan and Dale Klapmeier, Cirrus Aircraft is one of the major players in aviation. Cirrus introduced its VK-30 at the 1987 EAA Convention in Oshkosh, Wisconsin. Alan and Dale continued with the production of its sleek design and low-drag VK-30, in addition to making aircraft kits until 1993. After the VK's exit, Cirrus created the ST-50 with a turboprop instead of a 300-horsepower Continental engine. There is no series production that [...]

Cessna By Textron Aviation Before creating his own initial aircraft, Cessna's founder Clyde V. Cessna made his first appearance at an airshow in 1911. It was there that he quickly became interested in designing and producing aircraft. With experience as a mechanic and auto salesman, Clyde put together his aircraft with a kit from Queens Airplane Company in the Bronx. Over time, Clyde became a fairly good pilot. In 1916, Clyde got the opportunity to use a space [...]

The past few years have been a whirlwind for aviation, but private aviation predictions are still trending up despite the economic jitters and higher interest rates. There are still issues, such as the nationwide labor shortage and manufacturing and supply chain delays. But, buyers worldwide continue to show interest in pursuing aircraft acquisitions, and more importantly, they seem to be shrugging off issues other asset classes are starting to face. The general public may not think much about [...]

If you're traveling, you're probably aware of the aviation workforce shortage across the U.S. Whether you travel for personal or business reasons, you're likely noticing a pattern from one location to the next. Airports don't have enough workers to make flying more efficient. Furthermore, airlines have been hiking up ticket prices to recoup lost revenue since the pandemic's start. Remember, airlines didn't just lose $168 billion in revenue in 2020, but aviation operators also made $500 billion less [...]

Beechcraft Aircraft Founded in Wichita, Kansas, in 1932, the Beech Aircraft Corporation started during the Great Depression and just before World War II began. Founder and President Walter Beech, oversaw operations until he unexpectedly died in 1950. While Walter was alive, his wife, Olive Ann Beech, worked alongside him as Beech Aircraft’s secretary and treasurer. After her husband’s death, Olive took over as President for 18 years and served as board chairman until retiring in 1982. Beechcraft’s Model [...]

Mooney Mooney International Corporation took root in 1929 through Albert Mooney and his brother Arthur. Together they established the company in Wichita, Kansas. However, they faced the perils of a crashing economy. When the Great Depression struck in 1930, Mooney went bankrupt. While the brothers worked other jobs, Al fed into Mooney Aircraft Incorporated, eventually bringing in financial bankers Charles Yankey and W. L. McMahon. Mooney's first aircraft was the Mooney Mite M-18, a single-seater aircraft designed to [...]

Did your company purchase an aircraft after September 27, 2017? If so, your investment may be eligible for bonus depreciation. The 2017 Tax Cuts and Jobs Act (TCJA) allows eligible aircraft to receive 100% bonus depreciation in the same year as the purchase. The goal is to encourage small businesses to make investments that will stimulate the economy. However, act quickly because the deductible percentage will begin to phase down on January 1, 2023. This provision allows businesses [...]

Piper Aircraft Founded by two brothers, Clarence and Gordon Taylor, in 1927, Piper was first known as the Taylor Brothers Aircraft Manufacturing Company. Just a year later, the company would undergo a name change to Taylor Brothers Aircraft Corporation due to the death of Gordon Taylor. When the Great Depression caused the Taylor Brothers Aircraft Corporation to go out of business, Clarence retreated from a career in aviation. In addition to the company’s financial burdens, Clarence was also [...]