NBAA Welcomes Textron eAviation as Latest Industry OEM to Join AAM Roundtable

The National Business Aviation Association (NBAA) welcomes Textron eAviation Inc., a Textron Inc. (NYSE: TXT) company, as the latest original equipment manufacturer (OEM) to join NBAA’s Advanced Air Mobility (AAM) Roundtable.

Established in 2021, the NBAA AAM Roundtable focuses on maintaining the U.S. position as a global leader in aviation and aerospace, as well as harnessing the full safety, economic, environmental and national security potential of AAM.

Textron eAviation is pursuing Textron’s long-term strategy to offer a family of sustainable aircraft for urban air mobility, general aviation, cargo and special mission roles. The team is leveraging the acquired expertise of Pipistrel and Amazilia Aerospace and the industry-leading product design, certification, manufacturing, and aftermarket solutions across Textron’s businesses to develop AAM vehicles and advance new propulsion technologies, including hydrogen and electric power.

“In just a few years, NBAA’s AAM Roundtable has proven to be a powerful voice in the development and advancement of these exciting and sustainable technologies,” said NBAA President and CEO Ed Bolen. “We are pleased that Textron eAviation has joined in this effort to advance the safety-driven integration of AAM vehicles and supporting infrastructure into our National Airspace System.”

“We are honored to join NBAA’s Advanced Air Mobility Roundtable and applaud their steadfast advocacy in shaping policies that foster innovation and prioritize safety in aviation,” said Kriya Shortt, president and CEO of Textron eAviation. “Our collaboration with NBAA and other industry leaders is crucial as we collectively work to develop transformative and sustainable transportation solutions that meet the evolving demands of global mobility.”

The NBAA AAM Roundtable helped achieve two key legislative victories on Capitol Hill in 2022. The Advanced Air Mobility Coordination and Leadership Act (S.516) established an interagency working group to review and examine factors that will allow the maturation of the AAM ecosystem within the U.S. and develop an AAM national strategy.

The roundtable also supported the passage of the Advanced Aviation Infrastructure Modernization Act (AAIM Act) that established U.S. Department of Transportation (DOT) grants to assist state, local and tribal governments and other entities in planning infrastructure to support AAM operations.

Most recently, the AAM Roundtable worked with the bipartisan congressional AAM Caucus and leading authorizers in Congress to advance pro-AAM policies in legislation to reauthorize funding for the Federal Aviation Administration (FAA). These priorities are reflected in the FAA reauthorization bill, which passed earlier this year.

Founding members of the NBA AAM Roundtable include Archer, BETA Technologies, Hillwood Aviation, Joby Aviation, Lilium, Overair, Supernal and Wisk.

About NBAA
Founded in 1947 and based in Washington, DC, the National Business Aviation Association (NBAA) is the leading organization for companies that rely on general aviation aircraft to help make their businesses more efficient, productive and successful. The association represents more than 10,000 company and professional members and provides more than 100 products and services to the business aviation community, including the NBAA Business Aviation Convention & Exhibition (NBAA-BACE), the world’s largest civil aviation trade show. Learn more about NBAA at nbaa.org.

Members of the media may receive NBAA Press Releases immediately via email. To subscribe to the NBAA Press Release email list, submit the online form.

About Textron eAviation
Headquartered in Wichita, Kansas, Textron eAviation Inc., part of the Textron eAviation segment of Textron Inc., is focused on sustainable flying, backed by Textron’s 100 years of expertise and the restless spirit for innovation that is embodied in its Pipistrel, Cessna, Beechcraft and Bell brands.

The Textron eAviation business segment also includes Pipistrel, a Slovenian based manufacturer of light aircraft, including the world’s first and currently only, type-certified electric aircraft, and Textron eAviation GmbH, a developer of digital flight controls under the Amazilia Aerospace brand. Taking the lead in Textron’s development of sustainably powered flight, Textron eAviation is leveraging the industry-leading product design, certification, manufacturing, and aftermarket solutions from across Textron’s businesses, coupled with the acquired expertise of Pipistrel and Amazilia Aerospace, to pursue research and development initiatives related to sustainable aviation solutions.

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Source information for NBAA Article 

 

US Senator to propose bill to require new FAA safety efforts

U.S. Senate Commerce Committee chair Maria Cantwell said she plans to introduce legislation on Thursday to require the Federal Aviation Administration to use advanced safety measures after a series of problems with Boeing (BA.N) jets.
"We really think the FAA needs to have its own process," Cantwell said of safety management systems, which are sets of policies and procedures to proactively identify and address potential operational hazards. She also said she still plans to call Boeing to testify even after the company named Kelly Ortberg as its new CEO on Wednesday.

 

Cantwell who represents the state of Washington, added the new CEO of Boeing should be based in Seattle, where much of the planemaker's manufacturing is located. "I think the notion that somebody thinks they can run the company from anywhere other than Seattle is a big mistake,"

Cantwell asked the FAA to conduct a thorough review into its oversight of Boeing, which moved its headquarters to Chicago in 2001 after a merger with McDonnell Douglas. In 2023 it moved its headquarters to Arlington, Virginia.

Cantwell also raised serious questions about the government's scrutiny of the plane-maker, according to a letter first reported by Reuters Tuesday.

Reuters first reported Cantwell's planned SMS bill earlier this month. U.S. airlines have been required to have SMS since 2018 and some aerospace companies, such as Boeing, already voluntarily have SMS programs.

 

Source information provided by Reuters.com 

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Volato’s First SmartSky®-Equipped HondaJet Enters Service

ATLANTA--(BUSINESS WIRE)-- Volato Group, Inc. (NYSE American: SOAR) (“Volato”), a leading private aviation company and the largest HondaJet operator in the United States, today announced the first of its HondaJet fleet – and the first HondaJet ever – is now equipped with the award-winning SmartSky LITE™ inflight connectivity system, the only streaming-level connectivity solution for small business aircraft. The installation follows the previously announced agreement to equip the Volato HondaJet fleet with SmartSky LITE™ systems.

 

“Volato is dedicated to exceeding customer expectations on every flight,” said Matt Liotta, CEO of Volato. “The addition of SmartSky’s next-generation inflight connectivity is a direct response to customer feedback and underscores our commitment to delivering a superior in-flight experience. Early feedback indicates our passengers will be thrilled with the seamless connection and blazing-fast speeds.”

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SmartSky’s next-generation Air to Ground (ATG) inflight connectivity network delivers premium performance for every seat on the aircraft that customers describe as “connected freedom” and “as real-time as it could possibly be.” Solutions are available for all sizes of business aircraft with Supplemental Type Certificates available and in progress for more than 16,000 in-service models.

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“We couldn't be happier for Volato and their customers who are now enjoying the benefits of SmartSky when they fly,” said Paul Sameit, Vice President of Fleet and Reseller Accounts for SmartSky.

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About Volato:

Volato (NYSE American: SOAR) is a leader in private aviation, redefining luxury air travel through modern, efficient, and customer-designed solutions. Volato provides a fresh approach to fractional ownership, aircraft management, jet card, deposit and charter programs, all powered by advanced, proprietary mission control technology. Volato's fractional programs uniquely offer flexible hours and a revenue share for owners across the world’s largest fleet of HondaJet, which are optimized for missions of up to four passengers. For more information visit www.flyvolato.com.

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All Volato Part 135 charter flights are operated by its DOT/FAA-authorized air carrier subsidiary (G C Aviation, Inc. d/b/a Volato) or by an approved vendor air carrier.

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About SmartSky:

SmartSky Networks was founded to transform aviation through disruptive communications technologies, services, and tools. The network takes advantage of patented spectrum reuse, advanced beamforming technologies and 60 MHz of spectrum for significantly enhanced connectivity. SmartSky Networks uniquely enables an “office in the sky” experience with unmatched capacity for data transmissions both to and from the aircraft. This real-time, very low latency, bidirectional data link makes SmartSky Networks the best in-flight user experience, and a key enabler for new and enhanced applications and services.

 

For more information, visit SmartSkyNetworks.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240613635978/en/

 

Source: Volato Group, Inc. Released June 13, 2024

 

Republicans drawing battle lines over paying for TCJA extensions

​Republicans are headed for a big internal fight over the price of their tax cuts.

Pointing to the deficit, a growing number, some don’t think Grover Norquist is going to pull the weight he used to back in 2017.  It’s a different world now.  Government debt is one-third bigger than in 2017.  Once shocking, trillion-dollar deficits have become the norm, despite low unemployment predicting the shortfall will total $1.8 trillion this year. Extending all of the tax cuts would cost about $4.6 trillion over the next decade, assuming lawmakers leave a number of controversial payfors included in the law untouched.  

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It is also possible that lawmakers could bring down costs by allowing some parts of the Tax Cuts and Jobs Act (TCJA) to lapse, such as the top 37 percent income tax bracket, which, after years of high inflation, now begins when couples make more than $731,000.

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Some Republicans are already looking to so-called dynamic scoring to do a lot of the heavy lifting for them.

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Republicans always have high hopes about the potential for free money through increased economic growth, and in 2018 the Congressional Budget Office said TCJA would produce enough new revenue to cover about 20 percent of its cost.

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Driven in part by TCJA’s massive 14-percentage point cut in the corporate rate, nothing like that is now in the foreseeable future and, if anything, lawmakers are more likely to raise the rate.

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Any additional federal borrowing will push up interest rates for everyone, which would create a drag on the economy.

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Chair Jason Smith said: “Without a doubt, one of the biggest challenges that will be discussed, debated and decided in 2025 is should taxes be paid for or should they not be paid for?”

 

​Information provided by:Information provided by: POLITICO Pro

 

First deliveries of highly anticipated Gulfstream G700

Qatar Executive has just taken delivery of the first two of nine G700s – A7-CHA and A7-CHB. As the worldwide exclusive commercial operator, Qatar Executive will be the first carrier to offer the aircraft to charter customers.

 

The G700 is fitted with Rolls-Royce Pearl 700 engines, bringing with it greater efficiency and more range than its predecessors. The aircraft’s originally quoted range of 7,500 nm was upgraded to 7,750 nm in September 2023. It is the fastest Gulfstream business jet ever produced with a top speed of Mach 0.935. The aircraft also boasts a balanced field length take-off distance of 5,995 ft (1,827 m) and a landing distance of 3,150 ft (960 m) at sea level. 

 

The G700 joins Qatar Executive’s fleet which includes 15 Gulfstream G650ERs, two Bombardier Global 5000s and an ACJ CRT. Keen to emphasize the growth outlook of Qatar Executive, the new aircraft are intended as an addition not a replacement. In addition to A7-CHA and A7-CHB, two further aircraft are in the final stages of acceptance and expected to arrive in Qatar in the coming weeks. Once all nine deliveries have been completed, Qatar Executive’s Gulfstream fleet will comprise 24 aircraft.

 

The G700 was due to be delivered in 2023, but delays with the FAA certification program saw deliveries pushed out to this year. However, good things come to those who wait. Doha’s main airport Hamad International was six years overdue when it opened in 2014. Now, the third busiest airport in the Middle East, it just took the title for World's Best Airport 2024 at the World Airport Awards.

 

Information provided by: CorporateJetInvestor.com

 

New FAA Reauthorization Law 

President Biden recently signed into law a historic, comprehensive measure to reauthorize the Federal Aviation Administration (FAA) for the next five years. This long-awaited bill is now law after four extensions to the FAA authorization package passed in 2018.

 

Ed Bolen, NBAA President and CEO stated that both sides came together and passed a bill that will provide a long-term roadmap for the agency and will ensure America will continue to lead the world in all critical aspects of the aviation industry. 

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The measure reflects a number of priorities for NBAA and the business aviation community, including: A first-ever general aviation title, a key section of the legislation focused on enhancing safety, streamlining regulations and improving certification processes for general aviation aircraft, supporting certification for advanced air mobility powered-lift aircraft and other technologies, and improvements to the FAA flight privacy program.

 

Numerous process and protocol improvements for the FAA office of aerospace medicine, including pilot mental health, and removal of barriers for those seeking aviation careers while expanding the aviation workforce pipeline and improving training standards.

 

Source Information was provided by: nbaa.org

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Financial Crimes Enforcement Network Final Rule 

The Financial Crimes Enforcement Network also known as (FinCEN) recently issued a final rule regarding access to beneficial ownership information (BOI) that will be reported to FinCEN under Section 6403 of the Corporate Transparency Act (CTA) (RIN 1506-AB59).The preamble to the final rule says it "implement[s] the strict protocols required by the CTA to protect sensitive personally identifiable information (PII) reported to FinCEN and establish the circumstances in which specified recipients have access to BOI, along with data protection protocols and oversight mechanisms applicable to each recipient category.”

 

As of January 1, 2024, most companies created in or registered to do business in the United States must report information about their beneficial owners to FinCEN as part of an anti-money laundering initiative. Information collected by FinCEN from the BOI reports will be kept in a nonpublic database called the Beneficial Ownership Secure System.” The rules call for new entities to register with FinCEN at their onset and existing entities must register during the 2024 calendar year. The key changes involve the scope of financial institution access to BOI; limitations on offshore access to BOI; and streamlining procedures for state, local, and tribal law enforcement to gain access to BOI. The final rule does not affect existing requirements for financial institutions to collect BOI from their customers under FinCEN's 2016 customer due diligence rule. FinCEN will issue two interagency statements to provide clarity for financial institutions on the interplay between the access rule and the customer due diligence rule.

 

Information was provided by: Journal of Accountancy 

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Internal Revenue Service to Crack Down on Corporate Jet Users Who Abuse Tax Code

The Internal Revenue Service (IRS) plans to begin cracking down on corporate jet owners that abused the tax code by claiming millions of dollars in deductions on airplanes that were sometimes being used for personal travel.

 

The scrutiny of corporate jet use will involve new data analytics tools, which the IRS has been developing with the $80 billion in funds it was granted through the Inflation Reduction Act of 2022, to determine when executives or other company officials might be using corporate planes for vacations and private trips. 

 

The agency plans to begin dozens of new audits that will focus on large companies, partnerships and wealthy taxpayers.  These audits are to ensure high-income groups aren’t flying under the radar with their tax responsibilities.  However, distinguishing between business and personal travel is not always simple.  Therefore, the IRS could be forced to engage in lengthy litigation as it tries to audit some of the nation’s highest fliers over their corporate jet use.

 

The agency plans to proceed with an initial wave of up to four dozen audits of corporate jets before looking to expand the effort.

 

Original Source from the New York Times.

 

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