Welcome to GlobalAir.com | 888-236-4309    Please Register or Login
Aviation Articles
Home Aircraft For Sale  | Aviation Directory  |  Airport Resource  |   Blog  | My Flight Department
Aviation Articles

Legendary Designer Burt Rutan Returns to EAA AirVenture Oshkosh in 2015 for VariEze Anniversary

by GlobalAir.com 20. February 2015 09:42
Share on Facebook

All Rutan designs and canard aircraft invited to Oshkosh for VariEze’s 40th

Photo courtesy Scaled Composites

EAA AVIATION CENTER, OSHKOSH, Wisconsin — (February 19, 2015) — Burt Rutan, the visionary aircraft designer whose innovations made history and changed the aviation world, will be back at EAA AirVenture Oshkosh in 2015 to commemorate the 40th anniversary of his iconic VariEze aircraft.

EAA AirVenture Oshkosh 2015, the 63rd annual Experimental Aircraft Association fly-in convention, will be held July 20-26 at Wittman Regional Airport in Oshkosh.

Rutan’s designs have been groundbreaking for more than 40 years, beginning with the VariViggen in the early 1970s through the concepts that became the SpaceShipOne and SpaceShipTwo vehicles that are launching the era of space tourism. His use of canard wings and composite materials changed the look and efficiency of homebuilt aircraft, with more than 1,000 airplanes based on his designs now flying in the U.S. alone.

“There are few individuals in the history of aviation who can match Burt Rutan’s imagination and accomplishments,” said Jack Pelton, EAA chairman of the board. “His presentations are eagerly anticipated whenever he is in Oshkosh. Although he officially ‘retired’ several years ago, his innovative mind continues to push forward with new concepts and ideas that he’ll share at EAA AirVenture in 2015.”

Rutan is perhaps publicly known best for his SpaceShipOne design, which in 2004 won the $10 million Ansari XPRIZE as the first successful private spacecraft. He also designed the Voyager, which in 1986 became the first aircraft to fly around-the-world nonstop on a single tank of fuel. That accomplishment earned him, along with pilots Dick Rutan and Jeana Yeager, the Presidential Citizen’s Medal. Burt Rutan was also named to the National Aviation Hall of Fame in 1995 and EAA Homebuilders Hall of Fame in 1998.

His VariEze aircraft first flew in May 1975, with the prototype causing a sensation at that year’s EAA fly-in. That canard design evolved into other Rutan aircraft innovations, such as the Long-EZ, that are still being built today. Rutan’s multitude of interests has also led him into successfully exploring space flight and into electric flight.

In honor of the VariEze anniversary, EAA is inviting all Rutan and canard aircraft owners to come to Oshkosh and participate in the festivities. More details on specific dates and events will be released as they are finalized.

About EAA AirVenture Oshkosh

EAA AirVenture Oshkosh is “The World’s Greatest Aviation Celebration” and EAA’s yearly membership convention. Additional EAA AirVenture information, including advance ticket and camping purchase, is available online at www.eaa.org/airventure. EAA members receive lowest prices on admission rates. For more information on EAA and its programs, call 1-800-JOIN-EAA (1-800-564-6322) or visit www.eaa.org. Immediate news is available at www.twitter.com/EAA.

Tags: , , , , ,

Aviation History | Aviation Technology | News | Press Release

Pilots: Are You Forgetting These Preflight Tasks?

by Sarina Houston 15. February 2015 23:29
Share on Facebook

One of the benefits for pilots in the general aviation world is the ability to just “pick up and go” on a moment’s notice. General aviation, including business aviation, is less regulated than charter or airline operations. As such, the preflight preparation involved in a general aviation flight can often be quick and dirty, and familiar flights might only include a brief check of the weather and a quick walk-around of the aircraft.

Pilots are required by federal aviation regulation, specifically FAR 91.103, to become familiar with certain elements of preflight planning. There’s even an acronym – NWKRAFT – meant to help pilots remember the required items they must become familiar with before flying. The required preflight knowledge, and the meaning of the letters in NWKRAFT, include:

  • NOTAMs
  • Weather
  • Known ATC Delays
  • Runway lengths
  • Alternates
  • Fuel Requirements
  • Takeoff/Landing Distances

It’s easy for pilots to become so familiar with their routes and aircraft that they feel that they don't need to perform anything more than these required items to conduct a safe flight. But in addition to the basic requirements, there are a few other preflight items to consider. If you aren’t already incorporating these items as part of your preflight planning and preparation, consider adding them. After all, FAR 91.103 also states that pilots must become familiar with all available information prior to the flight. And isn't it just better to be prepared?

Winds aloft:
Although this one can be coupled with the generic requirement for checking the weather before a flight, the winds aloft are particularly important for those operators who hope to save fuel. Choosing a cruise altitude based on winds aloft can help save fuel, and alternatively, a quick check of the winds can also prevent you from running into a fuel shortage situation.

GPS NOTAMs and RAIM:
If you’re using GPS as a primary navigation aid, then you should be sure to get GPS NOTAMs from flight service before your flight. Approaches go well as long as they’re predictable. Losing GPS would be a bad day for any pilot that relies on it. It probably won’t happen, but a quick check of the NOTAMs and RAIM availability will ensure that it’s even less likely.

Fuel
The regulations require pilots to have enough fuel reserves for safe operation. But while you’re planning, you’ll want to scope out your fuel options, including where to find the cheapest fuel along your route (try MaxTrax) or which FBOs will take your fuel card (look them up in our Airport Resource Center). It’ll make it easier on everyone if you know ahead of time which FBO you want to use and if the FBO will honor your fuel card.

Pilot/crew currency
Don’t forget to check for your own currency requirements. Obviously, you’ll want to make sure you’re IFR current before flying in IMC or on an IFR flight plan, but don’t forget about the other currency requirements, like the flight review, and day and night requirements for carrying passengers, when applicable.

Avionics currency requirements
Along with your own currency, you’ll want to make sure your avionics are up to date. Your GPS database should be current for IFR flight, and your altimeter, pitot-static system, and transponder should be inspected every 24 calendar months. And don’t forget your VOR – the VOR needs to be checked every 30 days for IFR flight.

Local ops:
Bird conditions, noise abatement procedures and local airport and runway information should not be ignored during the flight planning process. (Did you know you can check the bird strike risk for major airports and routes on the Avian Hazard Advisory System website?)

TFRs:
Always check temporary flight restrictions before you fly. If you haven’t been surprised by one yet, you will be at some point. You can check them in a variety of ways, but online and through flight service stations are the most common.

Weight & Balance
Pilots who only fly one airplane become adept at doing weight and balance calculations for that aircraft in their minds, but when the load is heavier than usual or the flight is going to operate with different passenger or baggage loads than normal, nothing substitutes for an actual weight and balance calculations. Make sure you know the aircraft limits, as well as how the aircraft will perform when heavy.

Airport/FBO Operating Hours
Sometimes it’s the simple things that escape us, like whether or not the airport or FBO will be open when our flight arrives. It might not matter at times, but if you need fuel, restrooms or something to eat when you get there, you might want to double check the operating hours. In addition, it never hurts to call ahead and make sure there is ramp space available. This is especially important for larger aircraft at small airports.

Have preflight planning tips of your own? Share them with us in the comments!

Aerospace Education Program moves to new headquarters at Bowman Field

by GlobalAir.com 12. February 2015 10:57
Share on Facebook

Louisville, Kentucky - Air+Space Academy, America’s leading provider of aerospace educational programs for students in grades 9-12, is establishing the national headquarters for the program in the Hangar 7 complex at historic Bowman Field. The program was first established in 2010 by educator Dr. Tim Smith as the Kentucky Institute for Aerospace Education and based out of Frankfort. Over the next five years, the program grew and expanded to include more than thirty schools in Kentucky and Tennessee. As the program continued to grow, the need arose for a permanent headquarters to house the program staff, educational and training activities, and aircraft that have been donated to the program.

“We are thrilled with the Hangar 7 property and location,” said Dr. Tim Smith, Executive Director of the program. The location is highly visible and accessible, there is room to grow, and right out our back door we have access to one of the premier general aviation facilities in America. We are excited to bring our program here and to bring new life, energy, and activity to Bowman Field and to the Louisville community. We owe a big thanks to LRAA for making this possible.”

Hangar 7, which was originally housed an Army Reserve Aviation unit, has been empty for a number of years. The structure, which can be accessed from Cannons Lane, has a combination of outdoor, office, and hangar space. While facility is in need of a major renovation, the program is making minor improvements and will operate from the facility while contributions are raised to do a complete makeover and create a 21st century aerospace education facility. It is anticipated that this process will be complete in the next two years.

Originally a regional project, the Air+Space Academy is now offering it program to schools across the country. In a ceremony held February 10th, 2015 at Hangar 7, members of the AOPA executive team and the mayor’s staff will join the board, staff, teachers and students of the program to officially kick off and celebrate this nationwide initiative. The program is nationally recognized as one of the most effective tools for teaching skills in Science, Technology, Engineering, and Math and producing career and college ready graduates.

Hangar 7 will serve students, teachers, administrators, and instructors from the program on a local, regional,and national level. Participants from all around the country will come to Louisville and Bowman Field to participate in training programs, competitions, aircraft maintenance and restoration, simulator flights, satellites launches, flight training, summer camps, as well as day to day after school programs for students in the local area.

National Air+Space Education Institute is a 501(c) 3 non-profit educational organization based in Louisville, Kentucky and is the nation’s leading provider of aerospace education programs for students grades 9-12 that develop and promote study and proficiency in the STEM subjects, produces college and career ready graduates, and is training the next generation of aerospace professionals. Their new website is in development at www.airandspace-ed.org.

Editor's Note: Welcome to the neighborhood!

Tags: , , , ,

Aviation History | Airports | News | Press Release

Time Value of Money & Net Present Value

by David Wyndham 11. February 2015 15:14
Share on Facebook

Money is valuable. So is Time.

Back in 2011, I wrote about the time value of money in the aircraft acquisition process. A financial decision involves not only what the total costs are, but when the expenses and revenues occur. That article prepares you for the Net Present Value (NPV) discussion.

An NPV analysis takes into account the time value of money, as well as income and expense cash flows, type of depreciation, tax consequences, and residual value of the various options under consideration. When an expense (or revenue) occurs can be as important as the amount of that item. For example, taking into account an aircraft's resale value, a cash purchase will have lower total costs than the finance option or lease option (for a long term lease). The cash purchase is due up front. The principal and interest, or lease payments, are paid over time. 

The NPV calculation applies a time value of money rate to when income and expenses occur. This time value of money is referred to as internal rate of return (IRR) or return on investment (ROI). Many organizations have a published IRR or ROI target. For companies that don't, a way to estimate it is by dividing the profit before taxes of the organization by the equity and expressing as a percentage the return the organization expects to make on the money it invests in the enterprise. For many organizations, such as Fortune 500 companies, this is typically from 10% to 15%. The rate could be higher when accounting for financial risk. Government agencies can use the current rate of return for Treasury Bills or State Bonds. High Net Worth individuals may use their current returns they are getting from investments, or the interest rate when they borrow money.

Paying cash may not have the best NPV when the value of money is high. In general, if internal rates of return are greater than the financing terms, and allowing for the tax depreciation of the aircraft, the NPV favors the finance option over the lease for most of our corporate clients. Lease NPVs tend to be favored when there is little or no tax depreciation benefit, or the term is very short - under five years. 

By using the time-value of money, you can judge whether a project will yield a better or worse return than the average return experienced on a company-wide basis. Thus, the NPV analysis allows the comparison of different cash flows based on a set target return. It also allows comparisons of buy versus lease versus finance options of the same aircraft. This type of analysis is also the only effective way of judging the finances of a purchase, finance, or lease, especially if different conditions and interest rates apply to each alternative. It is the standard financial analysis technique used by the chief financial officers of major organizations.

An NPV of zero means that the target return has been met. A negative (less than zero) NPV means the target return has not been met. A positive (greater than zero) NPV means the target return has been exceeded. For something like a business aircraft acquisition, the only revenue generated is if there is some charter revenue  and when the aircraft is sold. Business aircraft, and privately flown aircraft, will have a negative NPV. In order to compare non-revenue NPV, the NPV closet to zero (or "least negative") is the most favored financial option.

Companies will compare at the NPV of very different projects.  The NPV comparison may include the purchase of an aircraft along as compared to the acquisition of land for a factory. $20 million buys a very nice business jet, or a lot of land. The finance terms and tax advantages of both can be very different. They company may decide to purchase the aircraft and use financing for the land. They may not finance either due to wanting to avoid too much long term debt on their balance sheet. Companies may avoid financing an aircraft simply to avoid having the aircraft debt on the balance sheet.

When I'm doing a financial analysis for a corporation, they may have me provide only the cash expenses. They then run their own internal NPV analysis so they can look at the corporate debt and taxes at a  higher level. Sometimes, the company will purchase the aircraft for cash without an NPV analysis as a matter of internal policy. Government agencies tend to have very clearly defined criteria for their capital acquisitions.

For any aircraft acquisition, the assumptions used need to be clearly spelled out. The costs should cover a specific period and take into account an expected aircraft value at the end of the term. Comparisons of two or more options should also cover the same period of time and utilization. This provides a fair (or "apples-to-apples") comparison. A complete Life Cycle Cost also accounts for the time-value of money in an NPV analysis. This way, the differing cash flows form two or more options that can be compared and analyzed from a fair and complete perspective.

The NPV may not be the final determinant in an acqusition, but it should be considered. The smart money says so.

 

Tags:

Garmin G1000 Rebate Includes ADS-B Requirement

by GlobalAir.com 11. February 2015 10:21
Share on Facebook

By Mark Wilken
Director of Avionics Sales for Elliott Aviation

www.elliottaviation.com

Avionics at Elliott Aviation

 

Garmin recently announced rebates of $50,000 to owners and operators of King Air C90, 200/B200, 300 and 350 who upgrade their factory installed Pro Line 21 avionics system to the Garmin 1000 system before May 29, 2015. Those with other avionics systems who upgrade prior to May 29, 2015 will receive $25,000.

The G1000 will replace an entire avionics package in a King Air and can increase useful load by an average of 250 pounds. The system incorporates graphical weather, synthetic vision, traffic, terrain and other avoidance systems into a simple three-panel display unit and takes only 15 working days to install.

Something you may not know about the G1000, however, is that it also includes automatic dependent surveillance – broadcast, or ADS-B Out. This is important because an upcoming mandate by the FAA requires each aircraft to transmit ADS-B to ground stations by January 1st, 2020 in an effort to modernize the air traffic system.

ADS-B Out is a WAAS GPS based signal that broadcasts your aircraft position, vector, altitude and velocity to ADS-B ground stations in an effort to make the skies safer. This will allow air traffic controllers to more efficiently route traffic to reduce congestion, emission and fuel consumption. To ensure safety, ADS-B needs to broadcast WAAS GPS data from a highly accurate source.

With the G1000 you can add value to your aircraft while getting many enhancements including meeting the ADS-B Out requirement. Garmin’s rebate offer is available until May 29, 2015.

Mark Wilken joined Elliott Aviation in 1989 as an Avionics Bench Technician. He was promoted to Avionics Manager in 1996 and joined the sales team in 2003. Mark has led many highly successful avionics programs such as the King Air Garmin G1000 avionics retrofit program. He recently led efforts for Wi-Fi solutions in Hawkers, King Airs and Phenom 300’s. Mark holds a Bachelor’s Degree in Aviation Management from Southern Illinois University and is a licensed Pilot.

Elliott Aviation is a second-generation, family-owned business aviation company offering a complete menu of high quality products and services including aircraft sales, avionics service & installations, aircraft maintenance, accessory repair & overhaul, paint and interior, charter and aircraft management. Serving the business aviation industry nationally and internationally, they have facilities in Moline, IL, Des Moines, IA, and Minneapolis, MN. The company is a member of the Pinnacle Air Network, National Business Aviation Association (NBAA), National Air Transportation Association (NATA), and National Aircraft Resale Association (NARA). More information can be found at www.elliottaviation.com.

 

Tags: , , , , ,

Aircraft instruments, IFR, IMC, safety | Aviation Safety | Maintenance



Archive



GlobalAir.com on Twitter