When it comes time to invest in your next private jet or sell your current one, you’re in for a big task. From searching to find the perfect jet and having it inspected to redesigning your interior and choosing a flight crew, your to-do list could get lengthy — and that’s not even considering the sales process for your current jet.
One thing you definitely can’t overlook is finding the right broker. Your broker of choice uses his or her industry expertise to help you find the perfect jet and sell your current jet at a fair price. Your broker can also help you save time during the sales and acquisition processes as well as help you own your next jet faster and easier. But how do you go about finding the right person to help?
Find the right broker
While broker reviews aren’t readily available on the internet like other services, you can start your search by talking to friends, family members, or colleagues. Don’t hesitate to ask for their brokers’ contact information. A pre-established level of trust from a personal recommendation can get you on your way to selling your jet for a fair price and owning your next one faster.
Just because you receive a great recommendation, however, doesn’t mean you should hire that broker immediately. While your friend or colleague may be that broker’s first reference, your investigation into your possible future broker isn’t over. You’ve also got to get references from the broker’s recent customers, learn how long the broker has been in the industry, and find out how many jets he or she has bought or sold among other track record checks on his or her history.
Not all brokers are created equal, so many buyers do better in their jet hunts when they’re partnered with a broker who has their best interests and personal style in mind. These “personality brokers” can move more quickly on purchases due to increased independence and tend to work best with those in the market for high-value jet purchases.
When you find the perfect broker to help you along your way, lock the relationship down with a written agreement. Knowing where you stand and what role your broker will play — and for what price — is invaluable as you prepare to purchase. If you’re selling a jet, not only does this establish the business agreement but it also keeps different parties from marketing the same aircraft. This helps add credibility and trustworthiness potential buyers may be looking for. If you’re buying, the agreement shows your broker your good faith in his or her expertise and solidifies the relationship as well as your broker’s commitment to you and your aircraft.
With insights into the aircraft market, technical expertise, historical knowledge, and transactional skills, a broker can help you better determine your needs and get a fair price on your next jet or for your current jet. A personality broker, though, can also help match your personality and style to make your aircraft purchase meet your needs and budget even more closely, making that broker’s commission fee a little more worthwhile.
The expert jet brokers at L & L International are here to help you find the perfect jet. Selling your jet? We can assist with that, too! Contact the private aviation professionals online or at +1 (305) 754-3313.
As time progresses, so does technology. This continues to give Gulfstream a greater ability to exceed consumer expectations and delight them with unmatched quality and attention to detail. Several models are currently available; however, all of them can hold up to at least 10 passengers and cruise at a speed of at least Mach 0.80 — meaning the standards are high for any model released. What’s special about the new G500? Many, many things. Its impressive features not only involve speed and safety but also passenger luxuries such as furniture made of the finest materials, high-tech entertainment options, and panoramic windows.
Gulfstream has been producing innovative, luxurious, business jets for more than half a century. Designing safe, luxury aircraft is far more than just a job for Gulfstream, it’s a mastered passion.
In the mid-1950s, Roy Grumman proposed a business-purposed aircraft to facilitate post-war economic growth. In 1958, he introduced the first corporate jet, Gulfstream I (G1), and launched global business-class aviation. As the industry leader, Gulfstream’s dedication to the highest standards of quality, luxury, and safety have endeared its aircraft to jet owners.
By 2008, Gulfstream developers extended the company product line to include the G100, G200, G550, G450, and G150, of which the G550 is the only jet still in production. Each jet style encompassed attributes and options that remain popular with jet owners and passengers. The company’s designs set it apart from the competition:
No longer in production, the G100 and G200 are midsize aircraft that Gulfstream renamed after acquiring Galaxy Aerospace. With wide cabins for comfort and long ranges, both jets offer comfort and convenience for jet owners who need space to accommodate their needs.
Also retired from production, Gulfstream models G300 and G400 are both heavy jets and share the same Rolls-Royce engines with 13,850-pound thrust, but the smaller G300 could be considered the light version of the G400. The G400 offers multiple cabin layouts, local area network within the cabin, and exceeds the G300’s range of 3,600 nautical miles by 500.
Currently available along with the G280, G600, and G650, the G500 and G550 maintain Gulfstream’s reputation for the highest quality by offering faster operating speeds of Mach 0.925 and 0.885; extended ranges of 5,000 and 6,750 nautical miles; and greater passenger capacities, both seating up to 19. In 2016, a $61.5 million G550 stunned buyers with Pratt & Whitney Canada PW814GA engines with 15,144 pounds of thrust and an ultra-quiet cabin that can sleep eight. The G500 and G550 are in high demand.
The 2017 upgraded G500 release
The G500, however, is on track to be released later this year after it clears its FAA certifications for design specifications, airworthiness, and operational safety compliances. If you need to get anywhere fast, this jet offers speed-of-sound cruising and will carry eight passengers near Mach 1 and up to 19 passengers at Mach 0.85 up to 5,754 miles. Its high-speed internet is 34 times faster than the competition’s, so you and your guests can stream live events from an altitude of 51,000 feet.
Source: gulfstream.com
The expert jet brokers at L & L International are here to help you find the perfect jet. Need to sell your jet? We can assist with that, too. Contact the private aviation professionals online or at +1 (305) 754-3313.
As electric car use grows more widespread, some aviation insiders hope electric aircraft propulsion will catch on as well. Through LeapTECH, a project under the Transformative Aeronautics Concept Program, NASA researchers hope to push commercial and private aviation to utilize more electric-powered aircraft over the next decade.
Electric flight has been around a lot longer than you may think. The first crewed electric-powered flight took place in 1973 when pilots flew the MB-E1 for nine minutes, reaching an altitude of about 1,000 feet.
For the next 30 years, solar power dominated electric flight propulsion, but mostly on light and experimental aircraft.
Following improvements in energy storage, pilots launched the Lange Antares glider in 2003, using a lithium battery to power a propeller retractable after launch.
Over the next decade, electric-powered flight really took off with pilots setting or breaking new flight records nearly every year.
In 2011, pilots set seven new world records in a two-seat aircraft called the e-Genius when they reached 142 mph while climbing to an altitude of 20,000 feet in less than two minutes. Powered by an all-electric motor and a single battery, they flew 300 miles without stopping and didn’t burn a drop of fuel. Total energy cost for the flight? $3.
In July 2015, pilots completed a 37-minute flight across the English Channel from Lydd, England, to Calais, France, in the Airbus E-Fan. It was the first twin-engine, all-electric aircraft to take off and land using its own power.
Today, electric-powered flight is used mainly for light and small craft holding one or two passengers. Greener emission standards make it likely that electric-powered flight will be increasingly prevalent in small aircraft designs.
Research and development are underway for medium-sized and heavy aircraft, but the technology is still some way off. Business owners who want to purchase electric-powered private aircraft will likely have to wait another 20 or 30 years before nonexperimental planes emerge on the market.
If you’re planning to purchase or sell a private jet, contact the experts at L & L International. Our sales staff is available at sales@L-Lint.com, and you can call us at +1 (305) 754-3313 or visit us online.
To maximize profits, you need to maximize your tax benefits. Owning a private aircraft may appear an unnecessary expense to some, but depreciation rules can make its luxury far more affordable for savvy fliers.
If you’re considering a corporate jet for your business, you should understand the aircraft’s tax value. Not only can you travel privately for business by air but you can also claim substantial depreciation refunds on your asset when you file business tax returns. You just need to meet IRS criteria.
To be considered a justifiable expense, a private jet must be deemed necessary for business. Getting people from one location to another is considered necessary; being overly lavish is not.
Government tax laws help business leaders afford aircraft through accelerated depreciation. Under IRS rules, a private jet has a useful life of five years. Those rules further state that businesses can write off 70% of aircraft costs within the first three years. This is a tremendous benefit you can take advantage of for your business.
Depreciation
Business aircraft depreciate under the Modified Accelerated Cost Recovery System (MACRS). This calculus accelerates the depreciation rate in the first years of ownership. With MACRS, depreciation is taken over a period of five years.
If you don’t qualify for MACRS, you can use another technique called the alternative depreciation system (ADS), which is straight-line depreciation with the same amount taken each year for six years.
Bonus depreciation
Bonus depreciation enables business leaders to deduct an additional 50% of their purchase costs during the first year. The rate will go down 10% each year beginning in 2018. Specific rules apply and rates can be higher, so be sure to go over the particulars with your accountant.
Today’s business decision-makers have many reasons to purchase private aircraft. Convenience is more important than ever, and with tax benefits like these available, a jet could be a very smart purchase for you and your business.
When you’re ready to buy or sell a jet, let the experts at L & L International help. Our sales staff members are available at sales@L-Lint.com, +1 (305) 754-3313, or online.
The term “cyberattack” is more common these days. Be it in fiction or everyday life, there is an ongoing and strengthening concern that a country, group, or individual could implement an IT-based attack that could can take down power grids or financial markets. The aviation world is no exception to these types of security vulnerabilities.
Aviation security has been a primary concern since the 9/11 attacks. In fact, the number of businesses with private aircraft for corporate travel has increased ever since. While industry insiders have made physical precautions to secure cockpits and passengers the norm over the last 15 years, they’ve only started to address increasing aircraft cyberattack possibilities. During the 2015 Global Connected Aircraft Summit, a number of security experts discussed cybersecurity issues for the technology-heavy avionics industry and Air Traffic Control (ATC) environment.
There are presently three main foci for aviation security: aircraft themselves, their data systems, and their communications system types. In digital communications, there are three types of setups. Closed communications between aircraft pilots and ATC controllers are normally via very high frequency (VHF) or satellite. Private communications cover maintenance data and manifests, normally via Wi-Fi or USB. Aircraft passengers utilize Wi-Fi or digital movies through public access.
Challenges
Though it may seem the biggest vulnerabilities are at the private and public levels, closed systems are also at risk. In 2015, ethical hacker Chris Roberts claimed to have broken into the Thrust Management Computer on a United flight, according to the Avionics article. Other experts have claimed large holes in connections between flight ops and in-flight entertainment. Plus, the airline industry tends to have a hard time keeping up with the continually rapid pace of technology.
Legacy systems are also security challenges. Though not an attack, Delta’s system uptime failure in 2016 resulted in a practical shutdown of all its services. This potentially means easier access for others to hack in and do the same thing. Many airline leaders are looking to upgrade their systems as a result.
Airline industry insiders are aware of these issues and have taken means to secure passenger and crew safety. For example, they introduced layered security on hardware, software, and networks to ensure data and communications integrity, according to the Aviation Week article. They also applied advanced analysis tools to enhance security. In addition, product manufacturers go through rigorous security testing processes to ensure privacy and lessen attack risks.
Though this may all sound scary, many experts believe those in the industry are doing all they can to secure passengers and airlines from malevolent activity.
Thanks to the privacy of business aviation, the friendly skies are still one of the safest ways to travel.
If you need assistance selling or purchasing a private jet, contact the experts at L & L International. You can reach our sales specialists today at sales@L-Lint.com, call us anytime at +1 (305) 754-3313, or visit us online.
Could the friendly skies become even friendlier? Members of the International Civil Aviation Organization (ICAO) are certainly hoping so with their new emissions standards.
Green aviation is more than just a dream. Within our lifetime, it’ll likely become a reality. As other transportation modes get greener, those in the aviation industry are joining the search for solutions to rising carbon pollution.
The aviation industry contributes an estimated 5% of all greenhouse gases with the potential to grow to as much as 15%. Scientists believe greenhouse gases are a major contributing factor in overall global climate change. While commercial flights contribute the majority of gases, manufacturers are also working to make private aviation greener. In many ways, it’s easier to find alternative ways to propel smaller private jets than power larger crafts.
The ICAO Council adopted new standards for carbon dioxide emissions March 6, according to the ICAO article. The international standards will be applied to new aircraft designs beginning in 2020, or 2023 for aircraft already in production. Compliance is voluntary between 2021 and 2026 but mandatory beginning in 2027.
Will the ICAO need to adjust these standards for further reduction? It’s hard to tell at this point. The council is designed to keep things in control, but anticipated increases in the number of operational aircraft could make reaching a definitive conclusion difficult.
Environmental groups, however, find the measures woefully lacking. They want more strict standards because the plan doesn’t address emissions the aircraft currently in operation will produce.
The impact on private jet owners should be minimal as long as they already own their jets. Those purchasing private jets prior to 2020 will basically be grandfathered in. However, many aircraft manufacturers support this initiative and are already implementing technology to lower carbon dioxide emissions.
Several years of study have already gone into this undertaking, and manufacturers have had plenty of time to begin necessary changes to attain compliance. According to the Engineering and Technology article, the International Air Transport Association, which represents more than 260 airlines, is ready and China, the United States, and Europe are all on board. The rest of the world will likely follow along.
A new greener and cleaner air travel and ownership age is beginning, and the entire world will likely benefit from these decisions and changes.
High-end private jets deliver unsurpassed comfort in air travel. It isn’t just additional personal space or a little more leg room — it’s the ability to enjoy a quiet, Zen-like atmosphere during an in-flight private massage. Lufthansa Technik offers such services in a customized $150 million Airbus A350 with a built-in spa, which rivals anything you might find on the ground. Arriving at destinations refreshed and ready for business or fun is the ultimate aviation comfort.
Services
From access to private security to parties in the sky — complete with VIP celebrity guest lists — wealth provides access to superior services and amenities. But aircraft interior designs in exceptional jets are worthy of their own special attention.
Source: flexjet.com
Customized living spaces
Private jet ownership offers a whole new world of possibilities. And for the super-rich, imaginations know no bounds. They get whatever they want in the air: They can design interiors to meet all their needs, including lounges, bedrooms, media rooms, and boardrooms. As long as they meet federal safety regulations, specialized design firms deliver opulence the mega-rich crave.
World-famous Armani and Versace designers will provide their skills to help get the most luxury and personalization out of private aircraft. Bathrooms can be as spacious as owners need and even feature steam showers. Palatial private quarters can feature designer furniture, priceless artwork, and king-size beds.
With private aircraft, the sky truly is the limit when it comes to luxury incorporated into jet designs. Exotic wood, leather, gold or platinum fixtures, and jewel-encrusted amenities are all available. Fireplaces aren’t unusual nor are grand pianos where talented pianists can hone sonatas or entertain guests. Flawless Wi-Fi is also available via satellite so passengers can watch their favorite television shows on state-of-the-art entertainment systems.
Designs can include custom kitchens in which private chefs can cook meals rivaling those in the world’s best restaurants, and servers can deliver food and drink on the finest China and crystal.
The ultimate luxury just might be installing a garage for your Rolls-Royce like Prince Alwaleed bin Talal ordered for his $500 million customized Airbus A380.
No matter your wildest aircraft dreams, business aviation designers can help you live in the lap of luxury and deliver on your desires down to the smallest specifications.
When you’re ready to take the next step into luxury aviation, the expert staff at L & L International will be there to assist and offer advice. Our sales staff is available at sales@L-Lint.com, and you can call us at +1 (305) 754-3313 or visit us online.
According to the Forbes article, privatization could reduce operating costs and improve safety and efficiency. Cost savings, however, would likely be based on personnel reductions and improved systems, both of which the government could accomplish.
Several countries have privatized their aviation systems or system components. In Germany and France, government-owned companies manage air traffic; British and Canadian air traffic control is privatized.
Of course, air traffic volume in other countries doesn’t compare with the U.S., in which airlines operated 9.6 million departing flights in 2014. Canada had only 1.3 million commercial flights depart that year. One benefit many cite is that privatization could lead to faster modernization, benefiting all aircraft and fliers. The project, called NextGen, is supposed to increase the nation’s flight capacity and improve on-time arrivals but has been a more lengthy and expensive process than planned.
So, what does this all mean for private jet owners? Should prospective buyers wait until any uncertainty is resolved?
Probably not. There’s no indication that privatizing is a priority for the new administration — even if the president told aviation executives he favors it. Given the complexity of the U.S. system and the FAA success record, it’ll likely be difficult to demonstrate the value in making a major change and expending the political capital to bring it about.
Contact the experts at L & L International if you need assistance purchasing or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us anytime at +1 (305) 754-3313, or visit us online.
Time is everything in the business world, especially when you’re flying. Delays on the ground and in the air can cause fliers undue stress, which can lead to — and sometimes cause — missed appointments and opportunities. Even when using a company jet with more flexible departure and arrival windows, you can’t prevent bad weather. So, how do you know if you should keep your appointment and risk flying through it?
Know the weather. There’s a big difference between what you see on the ground and what’s in the sky. Lightning, wind gusts, and turbulence are all factors when flying in bad weather. The name of the game is avoidance, and pilots use many tools to avoid flying through storms. Though large turbulence pockets appear on rare occasions, much is predictable through constant weather reports pilots receive — known as PIREPs — and Light Detection and Ranging (LIDAR) tools. Pilots work with control tower personnel to plot the least dangerous routes possible through or around storm fronts.
Know the statistics. An average of only three dozen individuals are injured annually due to rough turbulence. In other words, flying through a storm — even briefly — may be rough but is not likely life-threatening. Should you still be concerned, it’s best you fly out in the early morning when the atmosphere is most stable.
Your pilot has hundreds of hours of classroom training and on-the-job practice to fly through less-than-perfect weather. Having a pilot with a lot of experience is your best defense against issues in the air. Your pilot’s goal is to get you to your destination as safely as possible. If you’re traveling on a private jet and are concerned about weather, express your concerns to your pilot and have a conversation about the conditions and risks involved.
While turbulence and poor weather can certainly make flying experiences uncomfortable from time to time, they shouldn’t stop you from doing business. Rely on your pilot’s knowledge and aircraft tools to get you to your meetings on time.
Contact the experts at L & L International if you need assistance purchasing or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us anytime at +1 (305) 754-3313, or visit us online.
When you claim business expenses, they can help you reduce your overall tax burden. Corporate and private jet owners can obtain significant tax benefits from their aircraft ownerships, particularly if they maintain proper usage records.
But not all benefits are readily apparent. Here’s a guide to making sure you recoup all available deductions:
Don’t forget depreciation
Since depreciation is a tax benefit, private jet owners should be aware of the Modified Accelerated Cost Recovery System (MACRS). If you use your private jet for business purposes, MACRS is an avenue to deduct more depreciation costs in the first years of ownership.
The key to MACRS for jet owners is the Protecting Americans from Tax Hikes Act. This is the final year to take full advantage of legislation benefits with up to 50% bonus depreciation available.
The IRS will pare down benefits over the next two years with a phase down complete after 2019. Of course, to be eligible, your jet must be new and you must use it predominantly within the United States for business purposes under IRS criteria.
What is ordinary and necessary?
While the phrase “ordinary and necessary” persists in IRS rulings pertaining to tax deductions, a specific definition is elusive. Chances are if you own a private jet, it saves you time and money. You may work at company with customers in rural areas not served by larger airports. As a company executive, work with your CPA to determine if you can demonstrate that you’ve saved time and money owing a private jet as opposed to relying on commercial options.
For MACRS deductions, at least 50% of the plane’s use must be for business purposes. But there’s a variety of other tests the IRS uses that you should consult your CPA about.
Obtaining tax benefits means you need to ensure you properly document all expenses associated with jet usage. You need to record proper flight logs showing starting and finishing mileage, fuel consumption, and travel purposes. Thorough documentation minimizes the likelihood of the IRS denying deductions.
Business owners should also maintain accurate fuel purchase, maintenance, and other operating expense records associated with corporate jet use. You should provide your accountants with these records on a regular basis as they may need time to draw comparisons with commercial flights for you to take advantage of maximum tax deductions.
Private jet owners should also be aware the IRS will likely deny deductions on businesses consistently showing losses: If you show too many years of losses, the IRS will rule your business is a hobby and, therefore, the expenses not deductible.
Business structure and private jet ownership
Another option to discuss with your CPA is your business structure. In some instances, you may obtain more tax benefits by structuring your business as an LLC instead of an S-Corporation or C-Corporation. Your corporate structure plays a role in your overall tax rate and which deductions you may be able to take, so this is worth exploring.
Private jet ownership allows you to get to your customers on your schedule without depending on commercial flights, particularly since commercial flights are often costlier when you book last minute. When you’re considering purchasing or selling a private jet, you can count on the experts at L & L International: Reach our sales specialists at sales@L-Lint.com, +1 (305) 754-3313, or online.
While broker reviews aren’t readily available on the internet like other services, you can start your search by talking to friends, family members, or colleagues. Don’t hesitate to ask for their brokers’ contact information. A pre-established level of trust from a personal recommendation can get you on your way to selling your jet for a fair price and owning your next one faster.
Though it may seem the biggest vulnerabilities are at the private and public levels, closed systems are also at risk. In 2015, ethical hacker Chris Roberts claimed to have broken into the Thrust Management Computer on a United flight, according to the Avionics article. Other experts have claimed large holes in connections between flight ops and in-flight entertainment. Plus, the airline industry tends to have a hard time keeping up with the continually rapid pace of technology.
The ICAO Council adopted new standards for carbon dioxide emissions March 6, according to the ICAO article. The international standards will be applied to new aircraft designs beginning in 2020, or 2023 for aircraft already in production. Compliance is 
Private jet ownership offers a whole new world of possibilities. And for the super-rich, imaginations know no bounds. They get whatever they want in the air: They can design interiors to meet all their needs, including lounges, bedrooms, media rooms, and boardrooms. As long as they meet federal safety regulations, specialized design firms deliver opulence the mega-rich crave.
Another option to discuss with your CPA is your business structure. In some instances, you may obtain more tax benefits by structuring your business as an LLC instead of an S-Corporation or C-Corporation. Your corporate structure plays a role in your overall tax rate and which deductions you may be able to take, so this is worth exploring.