The Irish Times’ Post

It’s good to see that the industry is fighting back over all the hyperboles being uttered by those looking to blame business aviation for destroying the environment. Facts should always trump emotion. Well done to the team at the EBAA. #bizav #businessaviation #bizjets

The goals.of #sustainability will not be achieved by hyperbole but by proper #researchanddevelopment - and where it's funded by the industry, that shows #commitment well done to European Business Aviation Association (EBAA) and all the #bizav #industryleaders for speaking out and making sense of this conundrum.

Why pilots are taking off

Our reaction to the Autumn Statement and investment in automotive 🚗 Today Chancellor Jeremy Hunt unveiled £4.5 billion for eight manufacturing sectors, including automotive and connected and automated mobility. In response Ian Constance, Chief Executive Officer, Advanced Propulsion Centre UK, says: “We welcome £2 billion of new funding, confirmed by the Chancellor in today’s Autumn Statement, for zero-emission vehicles, batteries, and associated supply chains. It recognises the importance of creating the right conditions to unlock strategic investment as the automotive industry moves away from fossil fuel vehicles. Alongside measures to boost infrastructure, emerging technologies, clean energy, and skills in the wider sector, today’s announcement will continue to support the transition to zero-emission vehicles.” Read more: https://okt.to/gCFXil #AutumnStatement #Automotive #NetZero Department for Business and Trade Department for Transport (DfT), United Kingdom

I’ve been with Airlines for Europe (A4E) for 5 months now and in that time there have been almost as many announcements of national taxes on aviation: France has announced a tax on major airports, the Dutch outgoing government recently proposed a tax on transfer passengers, Italy’s proposed 2024 budget allows some municipalities to apply an additional 3 euros per passenger, and most recently the Danish government proposed to introduce a staggered passenger tax that will gradually increase between 2025-2030. I ask myself what the intention behind these additional national taxes really is. Europe already has rules and taxes in place to decarbonize aviation and these are already delivering reductions: 💡 Of all the transport modes, only aviation is included in the EU Emissions Trading System – it’s been part of it for over 10 years in fact. The ETS caps and prices carbon and is a clear incentive to airlines to reduce emissions and invest in improving their environmental performance. 💡 The EU Fit for 55 package set mandatory requirements for the use of Sustainable Aviation Fuels. Just between 2025-2030, European airlines will use 9 million tons of SAF, saving around 30 million tons of CO2. 💡 In 2022 airlines bought all SAF that was produced for a total of $500 million. Currently SAF prices are roughly 2 to 3 times the price of kerosene. 💡 Over the next decade, A4E airline members are investing over €160 Billion in new, more efficient, best-in-class aircraft. These new planes are taking to the skies now, delivering reductions in emissions and in noise. 💡 Europe’s aviation industry was the first in the world to set out and commit to a roadmap to net zero – #Destination2050. The roadmap was launched in 2021 jointly by airlines, airports, aircraft manufacturers and air navigation service providers. The additional cost of new aircraft technologies, air traffic management, SAFs and negative emissions amounts to €820 Billion. In the case of the Danish proposal, in 2025 1/3 of the tax is earmarked for decarbonization; for the other countries no commitment has been made to reinvest the funds back in decarbonizing aviation. In 2022 A4E airlines paid more than €4 billion in aviation taxes in Europe. These revenues finance national budgets and are rarely reinjected in the aviation sector. Seems to me this is not about sustainability. If national governments really want to help offer the choice of sustainable aviation to our children, there is one initiative they can take and it’s on their table right now: reform Europe's airspace. Agreeing ambitious change in the Single European Sky negotiations is an opportunity to make flying more efficient and reduce the sector’s emissions by up to 10%. #aviation #airlines

Wallenius Wilhelmsen’s equity has dropped by almost a billion dollars following a review and recommendation from the company’s new auditor. This concerns a special option agreement that Wallenius Wilhelmsen has entered into regarding the subsidiary EUKOR. The car carrier's CFO Thorbjørn Wist says that the accounts, in their opinion, have not been misleading the investors as the agreement has been known since 2018 and the only difference now is the accounting method. #shipping #oceanfreight #freight #finance #accounting #investing

Many states enforce sales and use tax regulations on aircraft, but did you know that in certain states, aircraft owners have the potential to enjoy complete exemption from these taxes throughout the ownership period? From reviewing contracts and providing federal tax insights to crafting strategies for state and local taxes, our team of specialists takes a comprehensive approach to expertly administer your aircraft's structure. #AdvocateTaxLegal . . . . #aviationtlc #aviation #aviationattorney #aviationattorneys #bizjet #jet #corporatejet #businessjet #privateplane #aviationlaw #aviationtax #executivejet #businessaviation #corporatejet #flyprivate #aircraft

With the general election fast approaching, it’s more important than ever that we lay down the aftermarket’s needs for the coming years for our government to take note. Our CEO, Kevan Wooden, has delved into some of his key priorities, citing support for independent garages and clarity for our supply chain as essentials during this time of rapid change within the industry. Read more here: https://lnkd.in/erNEhEkM

Explore the impact of sales and use tax on aircraft across various states. While many states enforce such taxes, some provide exemptions that can exempt your aircraft throughout your ownership. Our team of professionals adopts a thorough approach, providing contract reviews, federal tax guidance, and state and local tax strategies. Entrust us with the effective management of your aircraft structure. #AdvocateTaxLegal . . . . #aviationtlc #aviation #aviationattorney #aviationattorneys #bizjet #jet #corporatejet #businessjet #privateplane #aviationlaw #aviationtax #executivejet #businessaviation #corporatejet #flyprivate #aircraft

In case the sunny weekend did not allow you to read this interesting article in L'Echo, I recommend you to still do so. Together with Olivier Vanneste and Nele Steurbaut, we discuss the #TCO for #company #cars for #directors. Time to go #green? Based on our KPMG Belgium simulations, the #fiscal #reform of Minister Vincent Van Peteghem is clearly steering everyone in the #electric direction. You will read all about it in the article written by Pieter Blomme. #tax #TCO #cars #kpmgreward #green