Business Aviation

Aircraft Transactions
Taft advises clients in all aspects of aircraft transactions. Our experience includes advising clients on purchases, sales, fractional ownership, jet cards, interchange agreements, joint ownership, and timesharing arrangements. Taft Business Aviation attorneys take a comprehensive perspective of such transactions and understand the importance of evaluating state and federal tax, U.S. Securities and Exchange Commission (SEC), FAA regulatory, and organizational structure issues that must be addressed at the onset of any transaction. Further, Taft has experience reviewing current aviation insurance policies and advising on aviation insurance considerations, including aviation liability insurance, aviation hull insurance, and compliance with insurance requirements arising under hanger leases, lease agreements, charter agreements, and other ancillary policies that arise from time to time in the business aviation space. Taft is experienced with dealing with all aviation escrow agents, specifically those located in Oklahoma City, Oklahoma. Our experience extends to security interest filings including FAA and the International Registry, facilitation of relationships with aircraft brokers, dealers, and inspection facilities, and import and export assistance for international movement of aircraft – all of which are critical when purchasing, selling, or leasing an aircraft or an aircraft interest. Taft’s broad experience and personal contacts within the industry allow us to find creative solutions for issues that arise prior to, during, and after an aircraft transaction.

Regulatory Compliance and Enforcement Actions
Our Business Aviation attorneys have significant experience addressing, and defending against, FAA enforcement actions related to the ownership and operation of business aircraft. Additionally, our attorneys regularly advise on IRS and SEC compliance issues arising from the ownership and operation of aircraft, including audits, public disclosures, and aircraft depreciation and expensing.

Aviation Tax Planning and Dispute Resolution
Taft attorneys routinely advise on federal and state tax planning for aircraft transactions, including planning for federal tax, tax depreciation, ownership and operational structures, trade-in considerations, and state and local sales tax. We represent clients in administrative and court disputes involving federal and state taxes on aircraft.

Counseling on Operational Structure
Taft provides counsel on items required to maintain compliance with FAA, IRS, SEC, Department of Homeland Security (DHS), Department of Transportation (DOT), and state and local law while always focused on achieving client objectives. Our attorneys routinely prepare and/or review and analyze dry leases, Part 91 management agreements, Part 91 Subpart K fractional ownership arrangements, and pilot services agreements in connection with clients’ operational and regulatory objectives. In addition, we repeatedly lend our experience to other matters affecting business aviation, such as drafting mergers or conversions affecting aircraft operations, and creating creative solutions, when necessary, for aviation challenges. Taft is experienced with the planning and process for the preparation and submission of Declarations of International Operations, Letters of Authorization, Operational Specifications, among other related documents. Our focused Business Aviation attorneys have connections and insight into successfully interfacing with Customs and Border Protection, DHS, DOT, FAA, and Office of Foreign Control (OFAC) offices and personnel.

Aircraft Charter Services
Taft is also experienced on Part 125 and Part 135 considerations, including the review, analysis, and revision of requisite documents and advising on specific considerations that arise during the merger or acquisition of an entity holding a charter certificate. Our attorneys have worked with nearly all major charter providers and are very familiar with their requisite documents.

Aircraft Financing
Our attorneys are experienced in strategic and platform aircraft purchase financing transactions. Taft offers unique aviation transaction counsel for aircraft owners including review, revision, and negotiation of aircraft loan documents, complying with due diligence requirements, and advising on judgment and lien search results and rectification.