Learjet 70 and 75 Receive Type Certification, Accelerated Depreciation on Aircraft, Senator Calls for Investigation of Airline Prices

The National Business Aviation Association (JetOptions is a member of NBAA) has welcomed a vote by the House of Representatives to renew several expiring tax provisions – including accelerated depreciation – for one year.

“NBAA applauds this action by the House to renew bonus depreciation and other tax incentives that encourage businesses to upgrade equipment and invest in assets such as aircraft,” said NBAA President and CEO Ed Bolen.

Bonus depreciation expired at the end of 2013, but NBAA and a broad coalition of industry groups have backed efforts in Congress to renew it retroactively as part of a package of tax “extenders.”

“Bonus depreciation strengthens our economy in two essential ways,” Bolen explained. “It gives our businesses immediate access to the most advanced equipment, including aircraft, making them more competitive, and it preserves jobs in America’s vital aircraft-manufacturing industry.”

If travel industry experts are correct, next year will see us snapping holiday “braggies,” eating dinner at a local’s house, being served by a “Botler” and, more than likely, heading to Asia.

Singapore, Thailand and Japan are among top destination picks for next year, while world-class sports events like the 2015 Rugby World Cup will also see fans flocking to host nation England.

Why Asia’s hot right now

“One of the hottest regions is Asia and there are a couple of different drivers,” says Elizabeth Crabill, president of global travel provider TravelBound, which serves 40,000 travel agents worldwide.

Japan, notoriously expensive for foreign visitors, is set to become more affordable because of the depreciation of the yen, which has lost nearly a quarter of its value since 2012.

“International currencies are going to go a lot farther,” says Crabill.

Sen. Charles Schumer is calling for federal investigations of high airfares, questioning why they’re not dropping along with fuel costs.

The New York Democrat says with holiday travel approaching, the high cost of flying is painfully apparent to thousands of passengers.

He’s calling for the Department of Justice and the Department of Transportation to investigate why airfares are so high despite what he described as “record” airline profits and “rapidly declining” fuel costs.