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How Changes to LaGuardia Affect Everybody

At the end of May, the Port Authority of New York and New Jersey made the decision to move forward and remodel the decrepit and lacking facilities that plague New York’s most conveniently located airport, particularly Terminal B at LaGuardia International Airport. The proposal, submitted by the LaGuardia Gateway Partners consortium of companies consists of Meridiam, Vantage Airport Group, Skanska, Walsh Construction, HOK, Parsons Brickerhoff, Wells Fargo, Citigroup and Morgan Stanley who will all contribute to the financing, design, construction and management of the tremendous project. LaGuardia has needed serious renovations for many years and construction is now slated to begin Q1, 2016 and last 68 months. Patrick Foye, Executive Director of the Port Authority of New York and New Jersey (PANYNJ) was recently quoted saying, “LaGuardia has suffered from chronic under-investment and a piecemeal approach for too long.” The results of this project go far beyond updated facilities and shiny new restrooms.

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HOW TO MAKE PHOTOGRAPHS OF AIRPLANES INSTEAD OF TAKING “PICS” OF THEM

Part One- The Gear:

Awhile back, I told one of my mentors, Dan Sellers, that I’d send him a pic I took of an airplane for a broker to get his input. After viewing it he recommended I not call it a “pic”, but instead call it a photograph. He said calling it a pic is belittling the time and effort I put in and the end result. He said anybody can take a pic, but what I’m doing is making photographs or creating images. I liked that and it made me take the photographic process more seriously.

So if you’re reading this and you’re interested in how to make photographs of airplanes, instead of taking “pics” of them, read on and I’ll share some of my recommendations in this little three part series.

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Does flying privately make financial sense?

In an article written by Matt Thurber for Business Jet Traveler in 2012, he asks the question, does flying privately make financial sense? The answer is a resounding yes, but the comparisons made can help you and your company to decide on whether it makes good business sense for your business

Is flying privately an economically a sound business choice or a fancy way to travel? This answer depends on your circumstances, but consider the cost comparison for these two hypothetical business trips, by car, airliner and a private aircraft. Even in a down economy, these numbers will explain why the opportunities offered by business aviation remain attractive.

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The REAL cost of a business aircraft

The evidence for a corporate aircraft is so compelling on the positive end, I am not quite sure how a CEO of a multi-million to a multi-billion dollar business can justify not owning one (or more) aircraft.

The Business Aviation Industry has hired a company called NEXA to examine and evaluate the business aircraft market  mostly in the United Staes, and has uncovered a wealth of information concerning the ownership and use of business aircraft. Everything found in this blog can be verified through the NEXA Partners.

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Life happens....Make sure you are prepared

I can feel how each and every one of you has been hitting refresh on your web browser just hoping for another blog post about aviation insurance (sarcasm).Well it has been a long time since I posted – unacceptably long. Why the break in what I had planned to be a regular series of posts?

At  times life throws you curveballs and gets in the way. This can be for better or for worse. In my case it was for the better as I spent the past few weeks preparing for my own wedding and then being involved in a couple of long time friends weddings.

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Why no plane?

Many corporate leaders read publications about the benefits of using corporate aviation and how an aircraft can save them time and money. By using a corporate aircraft, they can service existing sales territory more effectively. By using a corporate aircraft they can more efficiently use the 24 hours in a day for the benefit of their customers, employees and investors. In the long run this gives you time to spend doing other things that you love to do, like spending time with family or with friends or just about anything else but worrying about the hassle of using commercial aviation.

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Insurance Approved Training Providers

“I just completed my recurrent training with Jimmy’s Recurrent Training can you let the insurance carrier know I’m good to go for another year”

To take a line from one of my favorite shows “Not so fast!” 

The training providers will tell you they are insurance approved because they 1. Want your business and 2. Likely have been approved previously by a carrier.

Just because a recurrent training center tells you they are “insurance approved” doesn’t mean they are “insurance approved” for YOUR policy.

The big names such as SIMCOM and Flight Safety who use simulators are almost always approved for initial or recurrent training but many pilots want to explore other options – such as in aircraft training.

However, just as each training provider is unique so are the insurance providers who require the training. Depending on the aircraft, limits, and pilots experience some insurance companies will always require simulator based training while some while approve alternate training plans such as in aircraft training.

If you are interested in pursuing alternate training you should ask your insurance broker to verify with your insurance company that they will approve that provider for you. Don’t set yourself up for a costly mistake by expecting a training provider to be approved for your policy only to find out after that your insurance company isn’t going to approve it.

Your broker should go to bat for you to the insurance company with a training syllabus and background information on the provider to give you the best opportunity to get it approved.

You can always ask Ryan or Wings Insurance any questions you may have. 

Ryan Konrath

Aviation Insurance Consultant at Wings Insurance

RyanKonrath.com

 

(952) 641-3152

rkonrath@wingsinsurance.com

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5 Questions You Need to Ask Your Insurance Broker

"I’m pretty sure we got the best option and are fully protected.” I hear that all the time from business aircraft owners & operators. After talking to them for only a few minutes their response changes to, “Geez. Now I’m not so sure.”

Whether you’ve been with your current broker for decades or just switched to a new one, ask these five questions every year to make sure you’ve got the best insurance coverage for your current situation.

 1.    Is my broker doing the job we paid him to do?

You pay your broker to fully represent you and your aircraft. If he isn’t licensed with 100% of the carriers and approaching EVERY market for a quote EVERY year, he’s not giving you the best possible service. Additionally, you pay your broker to be available when needed. Your calls and emails shouldn’t go unreturned -- even on nights and weekends.

2.    How do I know I have the best option?

Unless you got a market summary showing how every carrier quoted or declined, you don’t know. Too many brokers just show you the “best option,” but one who’s really doing his job will show you ALL the options. There are about 20 aviation insurance carriers (not all will quote every risk), but you need a broker who contracts with each of them to give you maximum leverage and full market coverage.

3.    When was the last time my hull value was adjusted?

Hull premiums typically make up about 70%-80% of the annual premium. If you haven’t realigned your aircraft with current market value you may be over-insuring, thus overpaying. We recommend adjusting the hull value to reflect the current resale value of the aircraft every year.

4.    Am I carrying enough liability coverage?

Perhaps your typical missions have changed and you’re now carrying 8-10 passengers, up from an average of 3-4 in past years. Recent data shows you can expect a wrongful death to settle for $3-$6 million for aviation related accidents. Review last year’s typical mission and this year’s planned missions to make sure you have proper coverage.

5.    Do I anticipate any changes over the next year that can affect my policy?

Perhaps you are considering using your aircraft for some charter to help offset the costs this year. If you anticipate any changes upcoming you want to make sure to ask your broker if the carrier they are quoting will A) approve the change and B) can provide the limits required for that change.

With the unique missions that each of us operates in our aircraft being fully protected is extremely important. Your broker should be explaining all of these important questions to you every year – if not it’s time to ask them yourself!

You can always ask Ryan or Wings Insurance any questions you may have. 

Ryan Konrath

Aviation Insurance Consultant at Wings Insurance

RyanKonrath.com

 

(952) 641-3152

rkonrath@wingsinsurance.com

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Aviation Photos & Social Media

I feel compelled as a professional in this industry for many years to mention this topic. I am VERY active on Linked In and numerous business aviation and safety related topics. I have received at least 4-5 personal calls and e-mails from major players in the industry in the past few months regarding photos. This is inclusive of anyone I believe looking for work, whether a F/A, pilot, S&D, A&P, etc. May I suggest that you have a professional business attire photo?

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Air Travel Winter Weather Challenges

b2ap3_thumbnail_snow-gatwick-airport-Wint-007.jpg

 

The challenge of winter flying can be stressful. As we know, winter weather is often very dynamic. Successful winter travel is based on smart navigation of winter weather; no matter what sort of snow, ice, sleet or freezing rain you may encounter. As always, it’s most important to arrive safe and sound.

 

This season, winter has been wrought with extreme cold, and a new set of problems for travelers. Fast-moving storm fronts bring wind gusts, snow drifts and heavy ice. These conditions require careful planning in order to minimize their effects.  The so-called "polar vortex," a weather system of dense, frigid air is blamed for at least 21 cold-related deaths across the country. It spread to the East and the Deep South, shattering records that in some cases, have stood for more than a century.

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