Belgium to tax private jets, short-haul flights
Belgium will impose new taxes on older, noisier planes as well as private jets and short-haul flights in a bid to reduce noise and air pollution, according to a government statement. The new system of duties, to take effect from April 1, 2023, makes taxes dependent not just on noise, but also on levels of air polluting and greenhouse gas emissions, as well as the destination. Duties will increase for flights shorter than 500 km (310 miles). The other big change concerns private jets. They represent 3,000 flights per year or 12% of all Belgian air traffic. Private jets, but also planes that fly at night will pay more.
Just last week, the EU approved France's ban on domestic flights, albeit with some stipulations. The move bans domestic scheduled flights within the country if an alternative means of transport, including rail, can serve the route in under 2.5 hours. www.belgium.be
New funding platform Hyperion targets bizjets and freighters
Hyperion Aviation - an aviation services provider with experience in widebody commercial fleet financing - has launched Hyperion Aero Capital, an aircraft funding platform to focus on the business jet and long-term cargo leasing markets. Hyperion Aviation managing director Eric Weisskopf said the new platform aims to close a gap in financing for business jets. The new platform, which has “worked effectively for real estate and renewable energy transactions” will offer investors and lessors a “dedicated financing structure”. Hyperion said that financing for aircraft has become increasingly fragmented as traditional lenders have retreated to more vanilla financing (involving call or put options), while the private aviation sector continues to grow.
The company also noted that a volatile stock market, high inflation, rising interest rates, and geopolitical tensions have impacted the global finance market, leading to an interest in alternative investments such as aircraft. “Investors will be able to access a secure, insurable, real economy asset which will provide above market returns without the volatility associated with the current market,” stated Hyperion Aero Capital founder Scott Levy, adding “lessors will find a dedicated team and a single point of contact for financing assets which mainstream banks find difficult to finance.” www.hyperionaerocapital.com
Embraer puts new turboprop plan on ice
Embraer has delayed a decision about whether to develop a proposed turboprop airliner after determining that suppliers are presently unable to meet its goals for the aircraft. “As of today, the options available from a few suppliers are not yet there with respect to all targets,” the Brazilian airframer says. “Embraer has decided to postpone the decision on whether to go ahead with a next-generation turboprop aircraft, but will work closely with potential suppliers during the course of 2023 to secure the business the programme requires.”
Embraer had previously said it would likely announce its decision on whether to launch the aircraft in the first quarter of 2023. However, it has given no indication as to when any launch will now take place. The news marks a further setback for a turboprop programme that Embraer has pitched for years, most recently saying it intended to develop two variants, one with 70 and one with 90 seats. News of the delay emerged just days after Embraer said it will focus sustainable aircraft studies on hybrid-electric and hydrogen fuel cell 19- and 30-seat regional airliners as part of its on-going Energia program. However, the various Energia concepts are targeted at potential entry-into-service in the 2030-2035 timeframe. www.embraer.com
People: Zipporah Marmor appointed board chair of aircraft dealer association
The International Association of Aircraft Dealers (IADA) named Zipporah Marmor, v-p of aircraft transactions at ACASS, as chair of the organization. Zipporah Marmor has 20 years of global business aviation experience spanning sales, management, and marketing. Ms. Marmor launched her career with Bombardier in Montreal. Starting as a marketing professional, she subsequently transitioned to sales and ultimately relocated to Bombardier’s Farnborough office as a sales manager. In 2006, Ms. Marmor took on a sales director role in Monaco with NewJet International, which was the exclusive Bombardier representative for Monaco, Italy, and Switzerland. Her natural sales and management talent were quickly recognized, and she was promoted to vice president of Sales, where she played a pivotal role in NewJet’s growth and success. Since joining ACASS in 2011, Ms. Marmor has helped drive the company’s global expansion and continued growth in increasingly vital capacities. Montreal headquartered ACASS is a provider of highly customized support services for business aviation worldwide. Ms. Marmor became an active IADA member in 2018 and was made a member of the board in 2020. www.iada.aero