In view of the increased number of first-time aircraft buyers and companies lifting travel restrictions imposed during the COVID pandemic, we asked David, Mayer, a Partner at the law firm of Shackelford, Bowen, McKinley & Norton, to discuss just “who” gets to fly on aircraft operated by a company.
Topics covered include:
Why should companies have an aircraft use policy. The need for a use policy to cover all company aircraft, fractional shares, and charter aircraft. Who decides who may use the company’s aircraft? The Russia sanctions imposed by the US and other nations. How do you ensure an aircraft you are chartering, or an individual chartering your aircraft, is not an entity that is sanctioned? Tax implications associated with personal use of the company aircraft. The aircraft use policy and Federal Aviation Regulations. Disclosure requirements for public companies operating aircraft. Who is usually responsible for administering the company’s aircraft use policy?