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Buying an Aircraft

Going for business aviation by equipping your company with a jet will take several important factors into careful consideration. Some of these include managed aircraft decisions, financing, tax issues and aircraft acquisition strategies.

Some questions to ask and answer are:

• How will the property be structured?

• What will be the total cost paid in relation to the perceived benefit of owning aircraft?

• Should the aircraft be new or second-hand?

• What type of plane are you looking at: a Gulfstream jet?

• How do you go about acquiring an aircraft management company that includes freelance pilots and crew?

• Should you rent or buy?

Speaking of the last point, you may want to use TMV (time value of money) to help you decide. This is the assumed investment return plus the effect of inflation over a period of time in dollars that are not used to pay for an asset immediately. This can make renting a more attractive option.

own a plane

Taking full ownership of an aircraft has some advantages. You will always have its retained value and can use it whenever you want. Accelerated depreciation can also offer some important tax advantages.

The initial capital investment can be a disadvantage. The ongoing cost commitment that includes crew, insurance, maintenance, accommodation of the aircraft and other responsibilities can also be seen as a disadvantage. You will also have to bear the cost of professional aircraft management, either in-house or through a professional aircraft management company.

Financing is available. However, there is no longer 100% funding. There’s also not much, if any, money for an aircraft over 15 years old. In fact, the age of the aircraft affects loan-to-value percentages. For example, financing a “young” small Gulfstream business jet or an average six- to fifteen-year-old aircraft may require 20% down on 80% financing.

There are offers to be made. During the first 10 months of 2011, aircraft sales transactions increased by 10.3%. That could be because asking prices for aircraft fell 15.8% during that same time period, while the average time on the market increased from 9 to 367 days.

It takes a competent jet broker to navigate aircraft buyers through the purchase of an aircraft. He/she will make sure the seller has provided full disclosure and help arrange a pre-purchase inspection. The buyer will also be able to take advantage of the broker’s financial, legal and accounting advice.

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