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Course Details

This CLE webinar will offer guidance for drafting practical corporate aircraft usage policies, including policies related to personal use, carriage of political candidates, SEC reporting, and related issues. The program will also address the aspects of a use policy that should be included to address employee pilot provided aircraft and charter aircraft.

Faculty

Description

Companies that own or operate business aviation assets should have use policies that allow for needed flexibility but also ensure the aircraft is not misused or abused. Creating a policy designed for practical and consistent implementation is essential to prepare for increased IRS scrutiny of business aircraft use by large businesses and high net worth individuals, and to ensure FAA compliance. Good recordkeeping is the key.

Many businesses allow company aircraft to be used for personal purposes, which is part of executive compensation, but others prohibit personal use for a variety of reasons. Well-crafted policies will offer clear direction regarding the different ways in which the aircraft may be used, such as business, personal, political, or charitable purposes, and describe exactly who can use the aircraft for which purposes.

Even companies that do not own or operate aircraft may want to consider having an aircraft use policy in place. Many businesses may gain access to use aircraft from charter companies, or as a result of an employee that is a pilot seeking to use an aircraft for business purposes in exchange for reimbursement of expenses. The panel will discuss the best practices and pitfalls regarding these types of scenarios.

Listen as this experienced panel of aviation lawyers discusses drafting corporate aircraft usage policies that anticipate increased IRS scrutiny of business aircraft use by large businesses.

Outline

  1. Purpose and intent of a policy
  2. Essential topics to be covered
  3. Enforcement of the policies
    1. Company
    2. FAA
    3. SEC
    4. IRS
    5. Others

Benefits

The panel will discuss these and other issues:

  • What are the essential topics that an aircraft-use policy should address?
  • What are some strategies for effective and practical recordkeeping?
  • How do FAA, SEC, and IRS rules on personal, political, and business uses differ?
  • What are the pros and cons of allowing personal use of business aircraft?