Purchasing an aircraft.
Making your dream a reality.
If you’ve decided that owning an aircraft is right for you, congratulations. A world of freedom awaits. Now you need some expert advice to help you find the right plane to match your needs.
Once you’ve found your perfect aircraft, you also need to apply for finance, evaluate the documents, manage any tax & certification matters and perform inspections. All of this can be challenging, which is why there are some very good reasons to let our experienced team do the heavy-lifting for you.
Finding your perfect aircraft.
We are aviation experts: we’ve flown in a number of different aircraft so are in a good position to ask you the right questions to help you find your perfect plane. You may have thought of some of these answers already, such as where you plan to fly and how often. We use this information to personalise your perfect aircraft with the suitable range and fuel efficiency.
We can also help you consider factors you may not have thought of, such as the amount of luggage you’ll be taking on regular flights, what type of amenities you need, which in turn can help you choose exactly the right type of aircraft.
Getting bottom dollar.
Our aviation experts have worked in the industry and have managed hundreds of pre-purchase documents. This is a crucial stage when you’re considering buying an aircraft, as you need to know if the asking price represents real value for money. For instance, if a plane needs to be refurbished, we can point this out to you and give you an estimate of the extra costs. This will help you decide if the purchase is really right for you.
Ortac can also help with tax matters, for instance by finding aircraft for sale in more tax-friendly jurisdictions. We recently assisted a private client with the purchase of a Falcon S200 from Dubai, which saved significant costs.
Naturally tax liabilities depend not only on where you’re buying an aircraft but also where you’re based. Our team of aviation legal specialists can advise on sales tax & income tax and help you structure these payments in a cost-effective way.
When it comes to aircraft finding and applying to a suitable lender can be a very long and complicated process.
Lenders often want to know detailed technical information about the aircraft you plan to buy such as the model, age and if the price reflects its value. They also may ask for more technical information about its airworthiness. Ortac can help at this stage by providing detailed information from the aircraft’s technical documentation. Having correct and clear information will help your lender process your funds more quickly.
Making an offer.
Once financing has been secured, you’ll be ready to make an initial offer to the seller. In theory any trained business lawyer can do this but an attorney with experience of aviation matters is the best person to prepare the aircraft purchase agreement. This is a legally binding document which expands on your initial offer, lists under what circumstances your deposit can be refunded and clearly states the seller’s obligations when it comes to delivering your aircraft to you safely. An aviation legal specialist will also be familiar with stipulations like how your in-house counsel makes sure that your offer and purchase agreement are worded clearly and protects you in case of any issues.