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  • NAFA Administrator posted an article
    Retaining business aviation’s new entrants see more

    NAFA member, Chad Anderson, CEO at Jetcraft, discusses the future of business aviation. 

    During the pandemic, business aviation became a hugely attractive option for those who had the means but had never previously flown privately. Many ultra-high net worth individuals (UHNWI) quickly recognized the health, safety, time and productivity benefits business aviation offers.

    It’s encouraging to read that some 95% of new entrants are continuing to fly privately, according to a study featured in Aviation International News. To support the long-term success of our sector, we need to build on this momentum to ensure all users of business aviation continue to have an exceptional experience. Here’s how.

    Providing value

    Our industry must promote the benefits of business aviation, which unlocks opportunity and drives economic growth by maximizing efficiency and connectivity.

    During the pandemic, the ability to travel without boarding packed planes and waiting in crowded terminals was self-evident. This also provides peace of mind today, on top of the additional convenience and connectivity offered, which is particularly valuable when airlines are still frequently delayed.

    The value business aviation provides is only increasing as improvements in technology unlock more efficient and more sustainable travel, while access to high-speed data means aircraft can function as ‘offices in the sky’. As an industry, we can build on this by holding ourselves to the highest standards when it comes to further enhancing the business aviation experience.

    Read full article here

    This article was originally published by Jetcraft on February 16, 2024.

     March 04, 2024
  • NAFA Administrator posted an article
    NAFA Welcomes New Member: Stubbs Aviation Advisors see more

    FOR IMMEDIATE RELEASE: February 28, 2024 

                                     

    Contact: Tracey Cheek  
    tlc@nafa.aero  
    405.850.1292  
     

    Nel Stubbs
    nel@stubbsaviationadvisors.com 
    602.791.3824  
     

     

    NAFA Welcomes New Member: Stubbs Aviation Advisors  

     

    National Aircraft Finance Association (NAFA) is pleased to announce that Stubbs Aviation Advisors has recently joined its network of aviation professionals. Stubbs Aviation Advisors builds on the unmatched experience of Nel Stubbs, a preeminent aviation tax planning and compliance authority. It offers existing and potential aircraft owners and flight departments expert advice on federal, state and local taxes and aviation operating structures.  

    “NAFA members proudly finance, support or enable the financing of general and business aviation aircraft throughout the world, and we are happy to add Stubbs Aviation Advisors to our association,” said Ed Medici, President of NAFA.  

    About Stubbs Aviation Advisors: 
    Nel Stubbs, a leading expert on aviation taxes, recently launched Stubbs Aviation Advisors, a new consulting and advisory business to help aircraft owners and flight departments navigate aviation taxes and corporate aviation business structures.  

    The business is backed by Stubbs’ four decades of experience and is part of the George J. Priester Aviation family of companies, though it operates independently. George J. Priester Aviation, led by Chairman and CEO Andy Priester, recognized the need to support the private aviation industry, as all aircraft owners can benefit from Stubbs’ unique skillset and experience.  

    In addition to federal, state and local tax advice, Stubbs Aviation Advisors offers aviation operating structure advice to satisfy Federal Aviation Administration, Department of Transportation and IRS regulatory obligations. It consults on short- and long-term aircraft and flight department operating costs and provides aircraft appraisals throughout the U.S.  

    To learn more, please contact Priester Marketing at 847-537-1133 or visit www.priesterav.com. 

    About NAFA:  
    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. 

     February 29, 2024
  • NAFA Administrator posted an article
    NAFA Welcomes New Member: Piedmont Jets see more

    FOR IMMEDIATE RELEASE: February 28, 2024 

                                     

    Contact: Tracey Cheek 
    tlc@nafa.aero  
    405.850.1292

    Jared Hasty 
    Co-Founder 
    770.233.7518
    Sales@piedmontjets.com  
    https://www.piedmontjets.com 
     

     

    NAFA Welcomes New Member: Piedmont Jets    

     

    National Aircraft Finance Association (NAFA) is pleased to announce that Piedmont Jets has recently joined its network of aviation professionals. Piedmont Jets is a highly specialized, boutique aircraft brokerage and acquisition firm.  

    “Piedmont Jets joining NAFA is a step forward in advancing our mission to improve and facilitate the financing process to support aircraft buyers,” said Ed Medici, NAFA President. We welcome Piedmont Jets to our growing organization and enhancing opportunities for all our members.”  

    About Piedmont Jets: 
    Piedmont Jets leverages experience, efficiency and expertise to navigate clients through aircraft transactions. Driven by a team of experienced pilots with a love of aviation and building lasting relationships, Piedmont Jets aims to make transactions simple and seamless. 

    After careful analysis backed by industry-leading data, the Piedmont Jets team will source worldwide, on and off-market opportunities while managing the details of the procurement process.  

    Piedmont Jets provides a roadmap so clients are informed and empowered throughout the acquisition. The Piedmont Jets team uses its tools, processes and industry relationships to ensure maximum exposure and return on clients' investments. 

    For more information, visit piedmontjets.com.  

    About NAFA:  
    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. 

     February 29, 2024
  • NAFA Administrator posted an article
    NAFA Welcomes New Member: Shore Premier Finance see more

    FOR IMMEDIATE RELEASE: February 23, 2024 

                                      

    Contact: Tracey Cheek   
    tlc@NAFA.aero   
    405.850.1292   

    Scott Walter 
    scottwalter@shorepremierfinance.com 
    757.995.0452

     

    NAFA Welcomes New Member: Shore Premier Finance 

     

    The National Aircraft Finance Association (NAFA) is thrilled to welcome Shore Premier Finance, the specialty lending division of Centennial Bank focused on passion assets. With $1.2B in assets, Shore Premier Finance is one of the nation’s largest marine lenders, and they’re adding aviation finance to their portfolio. 

    “NAFA members proudly finance, support or enable the financing of general and business aviation aircraft throughout the world, and we are happy to add Shore Premier Finance to our association,” said Ed Medici, President of NAFA.   

    Shore Premier Finance has joined NAFA as part of their efforts to expand into aviation and perform better due diligence, and representatives from Shore Premier Finance will be attending the NAFA52 Annual Conference as part of that initiative and to connect with industry leaders. 

    About Shore Premier Finance:
    Since 2012, Shore has provided financing for high-end power boats, sail boats, and superyachts and inventory finance for marine dealers. In 2022, Shore began providing financing for luxury motorhomes as a complement to its marine business.  As its focus on passion assets has expanded, Shore intends to add the finance of personal and business aircraft to its offerings as well. 

    To learn more about Shore Premier Finance, visit www.shorepremierfinance.com.  

    About NAFA:   
    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. To add your company to our world-class network of the best in aircraft finance, sign up at https://www.nafa.aero

     February 23, 2024
  • NAFA Administrator posted an article
    NAFA Welcomes New Member: AirSpace Auctions see more

    FOR IMMEDIATE RELEASE: February 23, 2024 

                                     

    Contact: Tracey Cheek  
    tlc@nafa.aero  
    405.850.1292  

    Lisa Hutton 
    aircrew@airspaceauctions.com 
    254.735.5030 
    M: 912.596.5687 
    Cisco Municipal Airport 3F2, Cisco, TX 
    www.airspaceauctions.com 

     

     

    NAFA Welcomes New Member: AirSpace Auctions  

      

    National Aircraft Finance Association (NAFA) is pleased to announce that AirSpace Auctions has recently joined its network of aviation professionals. Launched in June 2023, Airspace Auctions aims to enhance the efficiency and transparency of aircraft transactions.  

    “NAFA members facilitate the financing of general and business aviation aircraft on a global scale,” said Ed Medici, NAFA President. “We welcome and support AirSpace Auctions’ services that play a role in advancing the interests of NAFA members within the aviation industry.”  

    About AirSpace Auctions: 
    Through online auctions, AirSpace Auctions brings transparency and efficiency to the buying and selling process. The team's extensive experience and understanding of marketing, advertising and data management ensures every auction is handled with professionalism and market insight. 

    AirSpace Auctions is committed to developing user-friendly technology tools, such as a comprehensive data bank for each airplane, to help provide users with a seamless experience. This lets buyers have instant access to all necessary information, enabling them to research and make confident purchasing decisions. Additionally, each seller and buyer receive a Cockpit Concierge Agent to guide them through the process.   

    AirSpace Auctions boasts a 90% closure rate on transactions, a testament to their effective approach and fair fee structure. Sellers and buyers are assured of a no-fee guarantee unless a sale is successfully concluded, emphasizing the company's commitment to fair and successful dealings. 

    To learn more about AirSpace Auctions, visit airspaceauctions.com.   

    About NAFA:  
    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. 

     February 23, 2024
  • NAFA Administrator posted an article
    NAFA Welcomes New Member: SVB Private see more

    FOR IMMEDIATE RELEASE – February 23, 2024 

     

    Contact: Tracey Cheek     
    tlc@NAFA.aero     
    405.850.1292     
     

    John Moran 
    Senior Vice President, Integrated Communications 
    John.Moran2@firstcitizens.com 
    212.461.5507 
     

    NAFA Welcomes New Member: SVB Private 


    The National Aircraft Finance Association (NAFA) is pleased to announce that SVB Private has recently joined its network of aviation professionals. SVB Private, part of First Citizens Bank and its First Citizens Wealth division, provides customized structured loans on turbine powered private aircraft to high-net-worth clients.  

    “NAFA members form a network of aviation finance services who diligently and competently operate with integrity and objectivity throughout the world,” said Ed Medici, NAFA President. “We’re excited to welcome SVB Private to our growing organization. Their services enhance NAFA’s available offerings, and we support their services to advance our members.” 

    About SVB Private: 
    SVB Private’s team of dedicated and specialized aircraft finance lenders can help optimize aircraft investment by providing customized lending solutions. These solutions allow clients to optimize their balance sheet by redeploying the capital they have invested in the aircraft. In addition, SVB Private competitively prices and structures loans commensurate with their clients’ personal and corporate banking relationships.   

    SVB Private provides a single point of contact, keeping the client fully informed throughout the loan approval and closing process. The bank leverages its deep understanding and connections within the private aircraft industry to help navigate the acquisition process, understand accounting treatments and FAA regulations, and align with other professionals to help make aircraft acquisition and ownership seamless and efficient.   

    Loan products for turboprops and jets include: 

    • Fixed and variable rate loans 

    • Acquisition financing 

    • Loan refinancing 

    • Pre-delivery payment financing for new aircraft 


    To learn more about SVB Private, visit https://www.svb.com/private-bank/

    About NAFA:   
    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. To add your company to our world-class network of the best in aircraft finance, sign up at https://www.nafa.aero

     February 23, 2024
  • NAFA Administrator posted an article
    NAFA Welcomes New Member: Moore & Van Allen, PLLC see more

    FOR IMMEDIATE RELEASE:   February 22, 2024 

                                       

    Contact: Tracey Cheek    
    tlc@NAFA.aero    
    405.850.1292    

    Melissa Wier 
    Marketing Manager 
    melissaweir@mvalaw.com   
    704.331.2419  

     

    NAFA Welcomes New Member: Moore & Van Allen, PLLC 

    The National Aircraft Finance Association (NAFA) welcomes Moore & Van Allen, PLLC (MVA), a leading law firm with a dedicated aviation finance practice. MVA's team of over 400 attorneys brings extensive experience in complex aircraft financing transactions, including cross-border deals and structured financing for high-value assets. 

    “NAFA members form a network of aviation finance services who diligently and competently operate with integrity and objectivity throughout the world,” said Ed Medici, NAFA President. “We’re excited to welcome Moore & Van Allen to our growing organization. Their services enhance NAFA’s available offerings, and we support their services to advance our members.” 

    MVA's extensive experience in facilitating aircraft financing transactions will directly benefit NAFA members by providing access to invaluable legal expertise in navigating the intricacies of these transactions.  

     

    About Moore & Van Allen, PLLC: 
    An unwavering focus on their clients has led to steady growth as one of the largest law firms in the Southeast. Over 400 lawyers and professionals in over 90 areas of focus represent clients across the country and around the globe, including Blue-chip Fortune 500 organizations, financial services leaders, domestic and global manufacturers, retailers, individuals, and healthcare and technology companies. MVA clients benefit from a strategic, innovative approach to significant business transactions, complicated legal issues and difficult disputes. 

    MVA’s value is rooted in the experience gained over seven decades. Nationally recognized, culturally inclusive and community-spirited, they understand that success for their clients comes from investing in the strength of ideas and the power of collaboration.

    To learn more about Moore & Van Allen, PLLC, visit mvalaw.com  

     

    About NAFA:   
    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. To add your company to our world-class network of the best in aircraft finance, sign up at https://www.nafa.aero

     February 22, 2024
  • NAFA Administrator posted an article
    GAMA Releases 2023 Aircraft Shipments and Billings Report see more

    WASHINGTON, D.C. – Today, the General Aviation Manufacturers Association (GAMA) released the 2023 General Aviation Aircraft Shipments and Billings Report during its annual State of the Industry Press Conference. Overall, when compared to 2022, all aircraft segments saw increases in shipments and preliminary aircraft deliveries were valued at $27.8 billion, an increase of 3.6%. 

    “For the first time in more than a decade, the general aviation manufacturing industry has eclipsed 4,000 aircraft delivered. In addition to this strong showing, there are robust and growing order backlogs for all segments of aircraft. This is a testament to the resilience of our industry and the integral role that general and business aviation plays in our communities. While the deliveries from 2023 are very encouraging, our industry faces headwinds from ongoing supply chain issues, workforce shortages, uncertainty and unpredictability from global regulators, and short-sighted efforts aimed at curbing business and general aviation, particularly in Europe. As civil aviation’s innovation incubator, our entire GA industry is focused on new aircraft and technologies that will lead the way in safety and sustainability for the entire aviation sector. This progress is dependent on having effective, predictable and accountable regulatory processes, and a supportive business environment. Therefore, it is crucial that the U.S. Congress passes a long-term FAA reauthorization bill, a fiscal year 2024 appropriations bill for the FAA, and a tax measure which is pending that promotes research and development. Likewise, non-U.S. global regulatory agencies must receive the proper budgetary support from their governments to carry out current and future activities. If political entities and regulatory bodies can deliver on their responsibilities, what our industry can accomplish in 2024 and beyond will be extraordinary,” said Pete Bunce, GAMA President and CEO. 

    Read full release here

    This press release was originally published by GAMA on February 21, 2024.

     February 21, 2024
  • NAFA Administrator posted an article
    NAFA Welcomes New Member: Buchanan Ingersoll & Rooney PC see more

    FOR IMMEDIATE RELEASE:  February 15, 2024 

                                      

    Contact: Tracey Cheek   
    tlc@NAFA.aero   
    405.850.1292   
      

    Terry A. Shulsky
    Shareholder 
    terry.shulsky@bipc.com  
    412.392.2091 

     

    NAFA Welcomes New Member: Buchanan Ingersoll & Rooney PC 
     

    The National Aircraft Finance Association (NAFA) is thrilled to welcome Buchanan Ingersoll & Rooney PC, a full-service national law firm providing industry-leading legal, business, and regulatory advice, to its esteemed network of aviation professionals. With 450 attorneys and government relations professionals across sixteen offices, Buchanan provides legal services in aviation finance and leasing, corporate finance, banking, bankruptcy, creditors’ rights, litigation, tax, intellectual property, and other practices whenever needed. 

    “Buchanan Ingersoll & Rooney joining NAFA is a step forward in advancing our mission to improve and facilitate the financing process to support aircraft buyers,” said Ed Medici, NAFA President. We welcome them to our growing organization and enhancing opportunities for all our members.”  
     

    About Buchanan Ingersoll & Rooney PC: 
    Buchanan attorneys have found solutions that work for their aviation finance and leasing clients in the commercial, business, and private aviation industries for over 30 years. Buchanan enforces their client’s rights under the Uniform Commercial Code to recover and dispose of aircraft, helicopters, commercial aircraft engines and aircraft engine parts, components, tooling, equipment, and machinery used by Maintenance, Repair, and Overhaul (MRO) service providers in the aviation sector.  Buchanan can provide the same high level aviation collateral recovery and disposition services to NAFA members. 

    Their depth means they can also support NAFA members by drafting and negotiating documentation with respect to aviation loans, leases, acquisitions, and sales. The result is a highly nimble, hands-on team with forward-thinking creativity and unique, problem-solving ideas to knock down barriers, drive regional competitive advantage, minimize risk and achieve results. 

    To learn more about Buchanan Ingersoll & Rooney PC, visit Buchanan Ingersoll & Rooney PC (bipc.com) 
     

    About NAFA:   
    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. To add your company to our world-class network of the best in aircraft finance, sign up at https://www.nafa.aero

     February 15, 2024
  • NAFA Administrator posted an article
    Due Diligence 101: Know Your Regulators see more

    Maintaining transaction integrity is an important part of our role in aircraft transactions, and doing our due diligence on our customers is critical to minimizing risk and maintaining compliance with all our regulators. In our recent webinar, sponsored by TVPX, NAFA members Laura Martino and David Hernandez dig into due diligence and how you can mitigate risk by understanding your regulatory bodies and how to protect yourself and your company. 

    So who are the regulators, what are the guidelines, and how do you ensure your transactions are compliant? Of course, you have the Federal Aviation Administration (FAA) and U.S. Department of Transportation (DOT), but you also need to be compliant with the Office of Foreign Asset Control (OFAC), the Financial Crimes Enforcement Network (FinCEN), the Securities Exchange Commission (SEC), the U.S. Department of Justice (DOJ) and more. Noncompliance with any of these regulators can lead to fines, reputational damage, debarment, disgorgement, criminal charges, suspension or denial of import/exports, seizure of assets, and more. 

    Here, we'll shed light on some key U.S. regulators. Understanding their mandates and potential risks can help you minimize risk in your aircraft transactions. 

     

    1. OFAC: Enforcing Economic Sanctions 

    OFAC, nested within the U.S. Treasury Department, enforces economic sanctions against individuals and countries deemed threats to national security or foreign policy. These sanctions restrict U.S. dealings with entities in adversary states, or involved in terrorism, drug trafficking, and other illicit activities. 

    Key points to remember: 

    • Relevant Legislation: Trading with the Enemy Act, International Emergency Economic Powers Act 
    • Focus Areas: 
      • Country-based sanctions: Cuba, Iran, North Korea, Syria, Crimea, Russia 
      • List-based sanctions: Specially Designated Nationals (SDNs) like individuals or groups linked to terrorism or drug cartels 
    • Your potential areas of risk: 
      • Strict liability: Unintentional mistakes or omissions can lead to penalties 
      • Secondary sanctions: companies that are sanctioned because they do business with a state adversary 
      • Sanction evaders: non-US companies that we currently do business with that may ignore U.S. sanctions and then later become SDN 

    Resources:  

     

    2. Financial Crimes Enforcement Network 

    FinCEN, also under the U.S. Treasury Department, combats money laundering, terrorist financing, and other financial crimes. It ensures the U.S. financial system's integrity by preventing illegal funds from entering it.  

    Key points to remember: 

    • Relevant Legislation: Bank Secrecy Act, Money Laundering Control Act, U.S. Patriot Act, Corporate Transparency Act 
    • Focus Areas: 
      • Money laundering: the use of transactions to obscure the origin of ill-gotten gains 
      • Terrorist financing: money funding terrorist activities and entities 
      • Customer Identification Programs: ensuring covered financial institutions have robust programs identifying and verifying customers  
    • Your potential areas of risk: 
      • Partial owners of a company: identity the ultimate beneficial owner (UBO) of a company to determine risk of illicit activity 
      • Accepting laundered money or participating in transactions that launder money 

    Resources: 

     

    3. Securities Exchange Commission and Department of Justice 

    The SEC and DOJ share responsibility for enforcing anti-bribery laws, specifically the Foreign Corrupt Practices Act (FCPA). This act prohibits bribing foreign officials to gain business advantages. 

    Key points to remember: 

    • Relevant Legislation: U.S. Foreign Corrupt Practices Act (FCPA) 
    • Focus Areas:
      • Third-party intermediaries: Using them for improper payments can violate the FCPA. 
      • Gifts to politically exposed persons (PEPs): Offering excessive gifts to PEPs can be seen as bribery. 
      • Lack of internal controls: Inadequate oversight can increase bribery risks. 
    • Your potential areas of risk:
      • Inappropriate gifts to clients/customers that could be considered bribery. 
      • Strict liability: Unintentional mistakes or omissions can lead to penalties.

    Resources: 

     

    4. Bureau of Industry and Security 

    The Bureau of Industry and Security (BIS), under the Department of Commerce, regulates the export of sensitive goods and technologies to safeguard national security and foreign policy interests. This involves managing the Export Control List (ECL) and enforcing the International Traffic in Arms Regulations (ITAR). 

    Key points to remember: 

    • Relevant legislation: Export Control Reform Act (ECRA), Export Administration Act (EAA), International Emergency Economic Powers Act (IEEPA) 
    • Focus areas: 
      • Export licensing for controlled items on the ECL, categorized by industry and potential military or dual-use applications. 
      • Enforcing ITAR, which regulates the export of defense articles and services. 
    • Noncompliance risks:  
      • Civil and criminal penalties 
      • Export denial 
      • Seizure of goods 
      • Reputational damage 

    Resources: 

     

    5. Federal Aviation Administration/Department of Transportation 

    The Federal Aviation Administration (FAA), under the Department of Transportation (DOT), plays a crucial role in regulating air travel and ensuring the safety of our nation's airspace. They establish and enforce various regulations for aircraft operations, pilot licensing, maintenance standards, and airport safety, among others. 

    Key points to remember: 

    • Relevant legislation: Federal Aviation Act of 1958, various amendments and regulations 
    • Focus Areas:
      • Aviation safety: Setting and enforcing safety standards for aircraft design, operation, and maintenance. 
      • Pilot licensing and training: Establishing requirements for pilot certification and conducting training programs. 
      • Air traffic control (ATC): Managing the flow of air traffic to ensure safe and efficient movement of aircraft. 
      • Airport safety: Overseeing airport safety standards and inspections. 
      • Consumer protection: Enforcing regulations regarding airline marketing, baggage handling, and passenger rights. 
    • Noncompliance risks: 
      • Civil and criminal penalties for individuals and companies 
      • Grounding of aircraft 
      • License suspension or revocation 
      • Reputational damage 
      • Potential for accidents and loss of life 

    Resources: 

     

    6. U.S. Customs and Border Protection 

    Customs and Border Protection (CBP), within the Department of Homeland Security, plays a crucial role in securing U.S. borders and facilitating legitimate trade. They enforce various regulations related to imports and exports, including anti-dumping and countervailing duties.  

    Key points to remember: 

    • Relevant Legislation: Tariff Act of 1930, Trade Facilitation and Trade Enforcement Act of 2015, various trade agreements with specific countries 
    • Focus Areas: 
      • Enforcing import and export laws and regulations. 
      • Collecting customs duties and taxes. 
      • Preventing the entry of illegal goods and people. 
      • Facilitating legitimate trade and travel. 
    • Your potential areas of risk:  
      • Misclassification or failure to declare goods 
      • Incomplete or inaccurate documentation 
      • Sanctions violations 
      • Improper or missing licenses/permits 

    Resources: 

     

    7. State DDC - ITAR 

    The Directorate of Defense Trade Controls (DDTC), part of the State Department, implements the International Traffic in Arms Regulations (ITAR) alongside BIS. ITAR governs the export, import, and brokerage of defense articles and services. 

    Key points to remember: 

    • Relevant legislation: International Traffic in Arms Regulations; The Export Administration Act; The Arms Export Control Act; The International Emergency Economic Powers Act 
    • Focus areas: 
      • Licensing the export, import, and brokerage of defense articles and services. 
      • Registering companies involved in ITAR-controlled activities. 
      • Technical assistance agreements related to defense articles. 
    • Your potential areas of risk: 
      • Failing to register  
      • Lack of technical data licenses or uncontrolled technical data 
      • Inadequate foreign disclosure management 
      • Improper recordkeeping and documentation 
      • Not vetting third-party vendors 
      • Changing regulations 

    Resources: 

     

    How to mitigate risk 

    Following compliance guidelines of all regulators is a critical piece of ensuring transaction integrity. Thorough and proper due diligence is your responsibility and the most effective way to minimize risk and ensure your business only engages in ethical and transparent transactions.  

    • Read and understand the legislation related to aircraft transactions 
    • Know your customer: thoroughly investigate their identity and affiliations before and throughout a business relationship 
    • Understand the true ownership of the companies you work with, and the source of their wealth  
    • Keep tabs on that company’s dealings that could potentially lead to sanctions or be connected to money laundering or other financial crimes 
    • Have a robust compliance and training program 
    • Walk away from a bad deal 
    • Seek professional guidance 
    • Build sanction-related language into your contracts  

    By understanding these key regulators and their areas of focus, you can navigate the compliance landscape with greater confidence and protect your business from unnecessary risks. This blog is for informational purposes only and should not be considered legal advice. Always consult with qualified legal and compliance professionals for specific guidance. 

    NAFA is committed to raising awareness and providing education to support transaction integrity in the industry and preventing fraud. Stay tuned for more webinars, articles and opportunities for you to learn more or get involved. Share these resources with your friends and colleagues and help ensure we all can do business as safely and transparently as possible.  

    This blog was published by NAFA on February 12, 2024.

     February 12, 2024
  • NAFA Administrator posted an article
    U.S. Senate Committee Advances FAA Reauthorization see more

    U.S. Senate Committee Advances FAA Reauthorization 

    WASHINGTON, D.C. – Today, the U.S. Senate Committee on Commerce, Science and Transportation passed its Federal Aviation Administration (FAA) Reauthorization bill (S. 1939). General Aviation Manufacturers Association (GAMA) President and CEO, Pete Bunce, released the following statement regarding the committee’s passage of the bill:  

    “It is encouraging to see the Senate take this critical step towards passing a long-term FAA Reauthorization bill. Congress must ensure that the FAA and Administrator Whitaker have the tools needed to support operational and programmatic direction that can facilitate the aviation sector’s future path towards increasing levels of safety and innovation. We are particularly pleased to see that the bill includes provisions to improve the FAA’s rulemaking process, strengthen the agencies international effectiveness, support workforce development, maintain sustainability efforts and foster agency and industry innovation. We commend the committee for advancing this important legislation and are grateful for the work of Senators Cantwell, Cruz, Duckworth and Moran for championing the bill. We are hopeful that the House and Senate will work in a coordinated and expedient manner to advance a final bill through Congress in the near term.”

    This release was originally published by GAMA on February 8, 2024.

     February 12, 2024
  • NAFA Administrator posted an article
    NAFA Welcomes New Member: jetAVIVA see more

    FOR IMMEDIATE RELEASE: February 7, 2024    

                                     

    Contact: Tracey Cheek  
    tlc@NAFA.aero  
    405.850.1292  

     

    Kelly Wolff
    sales@jetAVIVA.com
    Mobile:  321.258.5057
    Office:  512.410.0295

     

    NAFA Welcomes New Member: jetAVIVA

    The National Aircraft Finance Association (NAFA) is thrilled to welcome jetAVIVA, a global leader in pre-owned aircraft sales and acquisitions, to its esteemed network of aviation professionals. As one of the world's largest private jet sales organizations, measured by total annual transaction volume, jetAVIVA brings a wealth of experience and expertise to the NAFA community. 

    “NAFA members form a network of aviation finance services who diligently and competently operate with integrity and objectivity throughout the world,” said Ed Medici, NAFA President. “We’re excited to welcome jetAVIVA to our growing organization. Their services enhance NAFA’s available offerings, and we support their services to advance our members.” 

    About jetAVIVA: 

    For almost 20 years, jetAVIVA’s expert team has assisted thousands of clients in purchasing and selling aircraft, providing expertise in the aviation industry to streamline transactions and ensure a smooth and successful process. jetAVIVA's specialized services can enhance transaction outcomes for NAFA members and their clients, making them a valuable partner in any deal. Additionally, jetAVIVA keeps a pulse on the state of the aviation market, providing NAFA members with up-to-date insights and trends. 

    jetAVIVA CEO Emily Deaton comments, "jetAVIVA is dedicated to supporting NAFA's membership with our expertise and established track record of success. We look forward to contributing to the association’s mission to provide the highest quality services the industry has to offer.” 

    To learn more about jetAVIVA, visit https://jetaviva.com.  

    About NAFA:   
    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. To add your company to our world-class network of the best in aircraft finance, sign up at https://www.nafa.aero

     February 07, 2024
  • NAFA Administrator posted an article
    NAFA Welcomes New Member: Lewis Brisbois Bisgaard & Smith LLP see more

    FOR IMMEDIATE RELEASE:  February 5, 2024

     

    Contact:  Tracey Cheek
    tlc@nafa.aero
    405.850.1292

    Rhonda Maggiacomo
    Partner
    Rhonda.Maggiacomo@lewisbrisbois.com
    Office:  401.406.3321

     

    NAFA Welcomes New Member: Lewis Brisbois Bisgaard & Smith LLP

     

    National Aircraft Finance Association (NAFA) is pleased to announce that Lewis Brisbois Bisgaard & Smith LLP has recently joined its network of aviation professionals. Lewis Brisbois’ experienced Business Aviation Practice serves as a strategic client partner with a comprehensive understanding of the federal regulatory and business matters surrounding the financing, acquisition, and operation of business aircraft. 

    “Lewis Brisbois Bisgaard & Smith LLP joining NAFA is a step forward in advancing our mission to improve and facilitate the financing process to support aircraft buyers,” said Ed Medici, NAFA President. We welcome Lewis Brisbois to our growing organization and enhancing opportunities for all our members.”  

     
    About Lewis Brisbois Bisgaard & Smith, LLP:  
    Lewis Brisbois is actively engaged in the representation of clients in more than 40 different practice areas with a multitude of sub-specialties associated with each practice area including an experienced Business Aviation Practice Group. The firm serves as a strategic client partner with a comprehensive understanding of the federal regulatory and business matters surrounding the financing, acquisition, and operation of business aircraft from structuring complex transactions (including drafting and negotiating corporate aircraft purchase and sale agreements) to understanding the intricacies of aircraft financing agreements and reducing liability exposure while capitalizing on both federal and state tax planning options. 

    Lewis Brisbois’ Business Aviation Practice group has experience assisting Fortune 500 companies, large international corporations, ultra-high net-worth clients, and family offices with all aspects of aviation financing for large long-range business jets, commercial aircraft, helicopters, and aircraft engines, including structuring, documenting, negotiating and syndicating aircraft financing transactions for various types of finance structures. 

    To learn more about Lewis Brisbois Bisgaard & Smith LLP, visit https://lewisbrisbois.com.  

      
    About NAFA:   
    The National Aircraft Finance Association (NAFA) is a professional association that has been promoting the general welfare of aircraft finance for 50 years. Our network of members is comprised of lenders and product service providers who work together to finance general and business aviation aircraft. NAFA sets the standard for best practices in aviation finance by educating its members on the most up-to-date industry trends and best practices. Government legislation, market influences and industry insights allow member companies to provide the highest quality services the industry has to offer. To add your company to our world-class network of the best in aircraft finance, sign up at https://www.nafa.aero

     February 05, 2024
  • NAFA Administrator posted an article
    Pre-Owned BizJet Sales Trends to Watch This Year see more

    AvBuyer's Matt Harris caught up with NAFA member OGARAJETS’ Johnny Foster to discuss some of the key pre-owned aircraft sales market dynamics moving into 2024.

    Closing 58 transactions representing nearly $700m in asset value, 2023 proved to be another record year for OGARAJETS, and Johnny Foster remains bullish for 2024 business opportunities.

    For those following developments at the Atlanta, Georgia-based aircraft broker, this is not a coincidence. Just prior to the Covid pandemic in 2020, OGARAJETS entered its 40th year of operations, and marked the milestone by flipping its family business model on its head to strategically grow its small, boutique firm into an enterprise business.

    “We spent more than a year developing a refined business model along with an aggressive 10-year strategic plan, which included a significant expansion of both sales and sales support, along with an underlying operating platform that would serve as a ‘common basis’ for all of our divisions to operate in sync,” says Johnny Foster, President and CEO of OGARAJETS.

    “The onset of the pandemic allowed us the space to continue making investments and refinements without the interruption of transaction flow. However, by Q3 2020 the industry had made a complete 180-degree turn and has hardly looked back. With our new model fully deployed, we were well poised to take advantage of the skyrocketing market to come.”

    Since 2019, OGARAJETS has grown its team from seven to 20 professionals, seen its annual transaction flow increase from 22 to 58 closings, and increased top-line revenue threefold.

    Specifically in 2023 around 10% of OGARAJETS engagements involved representing clients in the acquisition of factory-new aircraft, Foster shares, while approximately 55% of the company’s exclusive engagements last year came from previous clients. “That translates into new client growth of 45%, which is a very exciting measure for us.”

    Read full article here

    This article was originally published by AvBuyer on January 31, 2024.

     February 05, 2024
  • NAFA Administrator posted an article
    The 14 Biggest Private Jet Events to Attend in 2024 see more

    NAFA member, Thomas W. Mitchell, Executive Vice President of Essex Aviation, shares the biggest aviation events not to miss in 2024!

    For those in the private aviation industry, conferences, conventions, trade shows and other events are an excellent way to network with peers and potential clients, learn about new technology and discover new market opportunities and trends. But you don’t need to be in the industry to attend a private jet convention. These events can be just as valuable to individuals looking to purchase private aircraft or to third-party representatives seeking aircraft on their clients’ behalf.

    Interested in attending an upcoming convention or conference? Here are some of the biggest private jet events for 2024.

    Top Private Jet Events of 2024

    The private aviation industry is an exciting space, one characterized by continuous innovation, luxury experiences, technological advancements and much more. All of this is reflected in the many private jet events that take place each year.

    Where once these events primarily showcased original equipment manufacturers’ (OEMs) new aircraft models and products, they now include networking and leadership opportunities for industry professionals and sales opportunities for prospective buyers. Conference sessions now cover a wide range of topics, from support, scheduling and pilot operations to aircraft maintenance management and tax and regulatory awareness, meaning there’s truly something for any attendee interested in private aviation.

    Besides those featured below, there are too many local private jet events to list, all of which you can discover through your local fixed-base operator (FBO), your aircraft management company or through your local Federal Aviation Administration (FAA) Flight Standards District Office (FSDO). For the purposes of this article, we’ll focus on popular events for those interested in viewing new and existing aircraft products, and on events for industry professionals looking to increase their skills, knowledge and experience and connect with their peers.

    Read full article here

    This article was originally published by Essex Aviation.

     January 30, 2024