This is the fifth article in an occasional series highlighting the firm’s practice areas Previous Spotlight articles have focused on Aerlex’s aircraft transaction and litigation practice areas, as well as the firm’s expertise in aviation regulatory law. This article continues our discussion of the firm’s comprehensive legal services with a look at our tax practice. Aerlex attorneys provide counsel on a complex array of federal, state...

European Union Emissions Trading Scheme Update — Originally published in BusinessAir Magazine, April 2013, Volume 23, No. 4. April 2013 is proving to be a challenging month for many aircraft operators who fly point-to-point within the European Union (EU) and haven’t already taken the necessary steps to establish a registry account for the EU’s Emissions Trading System (ETS). Point-to-point flights within the EU must comply with the ETS,...

Aircraft Closing Documents and the Role of the Closing Agent — Originally published in BusinessAir Magazine, March 2013, Volume 23, No. 3. When purchasing a new or pre-owned aircraft, one of the key members of the transaction team is the escrow agent. Most aircraft escrow agents have their offices in Oklahoma City, Oklahoma, home of the Federal Aviation Administration’s (“FAA”) civil aircraft registry. When purchasing an aircraft that...

U.S. Transportation Secretary Ray LaHood warned Friday of massive delays in airline flights and the closing of 100 smaller air traffic control towers throughout the U.S. as part of automatic spending cuts (sequestration) that are scheduled to begin March 1st. The airport tower closures would take effect one month later on April 1st. Aerlex Law Group President Stephen Hofer said “these closures will have a crippling effect, not only on the...

New Aircraft Buyers Benefit from Latest Extension of 50% Bonus Depreciation — Originally published in BusinessAir Magazine, January 2013, Volume 23, No. 1.   In early January, the United States Congress passed the American Taxpayer Relief Act of 2012 (the “Taxpayer Relief Act”). The legislation was intended to avert the socalled “Fiscal Cliff” and was quickly signed into law by President Obama. The Taxpayer Relief Act includes a...

2013–The Best Time to Buy?— Originally published in BusinessAir Magazine, December 2012, Volume 22, No. 12.   For buyers still looking for the right aircraft, 2013 could be the best year to purchase an aircraft. The pre-owned market for light, mid and large cabin business jets continues to have a surplus of inventory and prices continue to decline. In popular pre-owned aircraft types such as Falcon 2000 and Legacy 600, inventory...