On January 24, 2014, the FAA issued a new National Policy on operations in Reduced Vertical Separation Minimum (“RVSM”) airspace. (FAA Notice N8900.250 and Revised FAA Order 8900.1.) One significant topic addressed is that, for aircraft with multiple operators (e.g., multiple lessees of a single aircraft), each one operating in RVSM airspace must possess its own, distinct letter of authorization (“LOA”) issued by the FAA for such operations. The policy further provides for an expedited process to obtain additional LOAs after a single LOA has been issued,
Aircraft Operations & Legal, Aviation General
Aircraft Operations & Legal, Co-Ownership
Step 1. Select one person from the company who will make the application to the International Registry.
The first principal, agent or employee of your “transaction user entity”, or TUE (the company through which you are buying, selling or lending) who applies to the International Registry will be the “Administrator” for the company. The Administrator will have the right to submit or consent to any registrations with respect to the company. In other words,
Entering into a purchase agreement for a conceptual aircraft is a unique experience even for savvy business professionals familiar with purchase contracts. These agreements can provide a purchaser with the opportunity to potentially acquire a new aircraft in exchange for a commitment of a relatively nominal down payment. From a manufacturer’s perspective, these agreements can gage the interest of prospective purchasers and determine if there is sufficient demand for them to proceed. The aircraft manufacturer typically develops a “mock-up” and provides pre-engineered estimates of specifications before initiating the expensive and time- consuming certification process.