Feb. Issue
Year 2008

Welcome to PIREPS!

Please enjoy PIREPS and thank you for being part of the Premier family.

Breaking News! – Bonus Depreciation And Business Expensing Allows You To Deduct Up To 100%* Of A New Aircraft Purchased in 2008!

In case you missed the special edition of PIREPS that went out late last week, legislation was just signed into law that will mean huge tax savings to anyone who purchases a new or pre-owned aircraft in 2008!

The Recovery Rebates and Economic Stimulus for the American People Act 2008 offers accelerated tax deductions to qualifying businesses that take delivery of a new aircraft before the end of 2008. Maximum 2008 deductions are available on aircraft delivered by September 30, 2008.

“The 2008 economic stimulus bill provides both a 50 percent bonus depreciation on new aircraft purchases, and an expanded maximum $250,000 expensing election for taxpayers who invest less than $1,050,000 in new or used capital assets,” explained Louis Meiners, Jr., president, Advocate Aircraft Taxation Company.

“This is an incredible opportunity for small to mid-size businesses to start enjoying the benefits of owning a new or pre-owned airplane, while taking advantage of unprecedented tax deductions and savings,” added Earle Boyter, executive vice president and partner, Premier Aircraft Sales, Inc. “As the old saying goes, ‘there’s never been a better time to buy.’”

You’ll be amazed by how much the new legislation will allow you to deduct in 2008. Advocate Consulting (www.advocatetax.com) provided the following examples of estimated tax deductions on new Diamond and Mooney aircraft offered by Premier Aircraft Sales:

Diamond Model                       Cost**               2008 Deduction*           Deduction % of cost

DA20                                        $183,000                      $183,000                        100%

DA40 XLS                                 $337,500                      $302,500                        90%

DA42                                        $608,470                      $465,082                        76%

Mooney Model                        Cost**                2008 Deduction*             Deduction % of cost

Ovation2 GX                              $449,000                     $369,400                   82%

Ovation3                                    $474,900                     $384,940                   81%

Acclaim                                    $579,900                     $447,940                   77%

Acclaim-Type S                         $599,500                     $459,700                   77%

These are typical deductions available on aircraft purchased and put into service by September 30, 2008. “Every aircraft buyer’s situation is different and I strongly suggest anyone who is considering buying a new or pre-owned airplane talk to an aviation tax advisor or contact Scott Battle or Greg Harper at our office to get all the pertinent information before they sign anything,” Meiners said. “There’s an incredibly attractive opportunity here – but you have to understand the rules.”

Contact your Premier Aircraft Sales representative today to find out how you can take advantage of these incredible 2008 tax deductions

To learn more about this exciting savings opportunity and to arrange a demonstration flight in the new Diamond or Mooney of your choice, contact Premier Aircraft Sales and we’ll put you in touch with the specialist in your area. Call Premier at 800.903.8402. In Texas call: 800.564.2463.

*Based on general application of provisions of the Recovery Rebates and Economic Stimulus for the American People Act 2008. Application to specific circumstances may very. Consult your tax advisor for more information.

Premier’s February Events & Fly-Ins

Collings Foundation Wings of Freedom Tour:

Friday, February 22 through Monday, February 25 at the Wings of Dreams Aviation Museum & Warbird Restoration Center located at Keystone Airpark (42J) in Starke, Florida

Relive history by taking a tour of the Collings Foundation’s beautifully restored B-25, B-17 and B-24. Plus, see the new Diamond DA20, DA40 XLS and DA42-TDI, as well as the new Mooney Acclaim.

The Fast Keep Going Faster – Alex Coley Flies His 2007 Acclaim Into The Record Books

When a pilot buys a new Mooney Acclaim, he or she does it for one reason – it’s fast. How fast? Just ask Alex Coley and he’ll tell you, “It’s a rocket!” And he ought to know. Coley recently flew his 2007 Mooney Acclaim (N207AR) into the record books by going from San Diego, CA to Jacksonville, FL in 6 hours and 59 minutes – including a fuel stop in Kerrville, TX. That’s fast!

While setting yet another speed record in an Acclaim may not seem like news, consider the fact that Coley has only had his pilot’s license since December of 2006. Like most owners, he chose the Acclaim because of its speed, safety and performance. “I picked up my Acclaim in January of 2007, “ he said. “It’s serial number 12 and the N-number, 207 Alpha Romeo is for my bride’s birthday and our names; Alex and Reggie.”

“A good friend of mine was a Navy Blue Angel pilot and he got in my ear about me needing a high-performance airplane,” Coley said. “He had owned a Mooney in the past and said I should seriously consider one.”

Coley had another aircraft on order at the time but contacted Premier Aircraft Sales’ VP and Partner, Earle Boyter about trading it for the new Acclaim. “Earle and the Premier team have been great,” he said. “He knew where I was as a new pilot and owner and worked with me. He made the transition effortless and easy.”

Another person who has made Coley’s transition to the Acclaim easy is his friend and instructor Tim Wadsworth. “Tim is a CFI-I and he flies with me all the time,” Coley said. “He went with me to pick up the Acclaim in Kerrville and is now working with me to get my instrument rating in it.”

In fact that’s when the idea first struck Coley to try and set a record. “We flew back from Kerrville with really strong tail wind and we were well over 315,” he said. “We made it non-stop to Jacksonville in about three hours. The airplane is amazing!”

It’s not only the Acclaim’s speed that Coley finds amazing, he’s also very impressed with the Garmin G1000 avionics suite. “The glass really makes this all doable. Flying is so much easier today that it was just a couple of years ago,” Coley said. “Pilots like me can now comfortably fly missions they would not have dreamed of before.”

The Proficient Pilot: Stabilize Your Approaches

By Corbin Hallaran, Director of Safety, Premier Aircraft Sales

In last month’s PIREPS, I mentioned the importance of stabilized approaches. But just what is a “stabilized approach?” Simply, it is an approach where the pilot establishes a consistent angle glide path from the time they turn final until they reach the intended touchdown point.

The real trick is to have the airplane configured so that you only need to make very minor adjustments to the power and controls to maintain that consistent path – it’s easier said than done. In fact constant rate-of-descent is a critical factor that many pilots fail to monitor during their approaches. For most GA aircraft that target rate is 500 to 600 fpm. (Of course, that varies with loads and wind, but it’s a good starting point).

A properly stabilized approach starts when you are on downwind. Remember those points that your instructor drilled into you during those countless touch-and-goes? He did it for a reason. The goal is to have your airplane at a predetermined altitude and airspeed as you smoothly roll from base to final.

What is your aircraft’s ideal altitude and airspeed as you pass abeam your intended touchdown point? If you’re not stabilized there you’re literally behind the airplane the rest of the way.

As you fly the last legs of your pattern keep an eye on your intended touchdown point. Don’t fixate on it; just keep it in mind. When you’re on final, are you above or below the glide path? If you’re too low the runway will look shorter and wider. If you’re too high, it will look longer and narrower. Use the runway glidepath indicators (PAPI, VASI) to help you make adjustments early during your final approach.

The goal is to recognize and make any corrections before you cross the quarter-mile mark. From that point on all adjustments should be minor to maintain your target speed and rate of decent until you touch down on your intended target.

But, if you find that you’re not “stabilized” when you reach the quarter mile point, then I would suggest you go back and read the January 08 PIREPS story on go arounds.

Premier’s Commitment To Team Building Is A Commitment To Better Service And Support

By Ray Bysiewicz. Assistant Director of Maintenance, Premier Aircraft Service

The last thing you’d expect a very busy maintenance shop to do is to shut down its operation for a full work day so its team of technicians and customer service specialists could attend a company sales meeting, but that’s just what happened – and I can tell you, I couldn’t be happier about it.

Why? Because even though it was a “Sales Meeting” Premier’s management felt it was extremely important to have our maintenance team attend the meeting. At Premier, after sales service and support is a critical part of what we do and having our technicians right there to take part in the meeting and to hear first-hand about Premier’s performance for 2007 and goals for 2008 and beyond was great.

Our maintenance team got to see and hear just how much their efforts and commitment to safety means to helping the company grow and be successful. Last year we did over 790 work orders – nearly 800 chances to ‘touch’ our customers. Now our technicians know how important each of those touches are – not only to our maintenance shop, but also to the entire company. Talk about team building!

Of course there was more going on than just training. The service team was also on hand to share the spotlight as the entire company recognized the efforts and accomplishments of their fellow service team members during the annual awards ceremony.

And the Service Department winners were:

“2007 Employee of the Year” – Susan Glassman

“2007 Productivity Leader Award” – Adrian Arias

“1^st Quarter Productivity” – Eddie Roberts

“2^nd Quarter Productivity” – Adrian Arias

“3^rd Quarter Productivity” – Gus Jacques

“4^th Quarter Productivity” – Emmanuel Vicioso

Mark Your Calendars Now – The Next Bahamas “Fly-In & Help-Out” Event Will Be Held March 6-9, 2008

By John Armstrong, Regional Sales Manager, Premier Aircraft Sales, Inc.

Ever since the story about last fall’s Fly-In & Help-Out event ran in the December PIREPS, I’ve been inundated with emails and phone calls from pilots wanting to know when we are going to do it again. The idea of flying to the Bahamas to truly make a difference is someone’s life really touched the hearts of many pilots.

Well, the good news is, we’ve set the dates – mark your calendars now for March 6^th through the 9^th and join a wonderful group of mission minded pilots and passengers who will again make the memorable flight to our Camp in Eleuthera.

Sure it’s a heck of a lot of fun, but there’s a lot more to it. We will deliver supplies and helping hands for ongoing projects. This event is the perfect way to learn to fly to the islands, support a vital mission and be introduced to how you can further help. All kinds of pilots with all kinds of airplanes literally fly in from all over to take part in this event.

We gather in Fort Lauderdale for a luncheon hosted by Premier Aircraft Sales and special pilot briefings before we launch for Eleuthera. Lodging and transportation is arranged and all the details of how to conduct your flight across to the Bahamas are all part of our program. You’ll have an opportunity to bring in-kind donations you can carry in your aircraft, as well as to participate in work teams during the event.

Of course our schedule includes a day to just have fun and relax. We are going to the Bahamas after all. So this trip has it all. It’s a great flying adventure highlighted by your chance to provide much needed help for a vital mission. It’s not only fun, but it’s your chance to do it all on a tax-deductible basis! What more could a pilot want?

Moving Up?

A Mentor Pilot May Be Right For You

By Fred Ahles, President, Premier Aircraft Sales

One of the great things about being in the aircraft sales profession for over 30 years is I have been able to help a lot of pilots work their way up through the ownership ranks. They start with a small piston single then work up through a larger model to a twin and even into turboprops and jets. And with the new Diamond D-JET coming on line later this year, that number of move-up pilots is going to grow significantly.

Because we like to think of our customers as part of the “Premier family” we make every effort we can to ensure that they are safe to operate any aircraft we sell. Frankly, if our Safety Director, Corbin Hallaran doesn’t give them the ‘thumbs up,’ I won’t give them the keys.

One of the more effective ways we can help less experienced pilots enjoy safer operations is to help our move-up buyers find a mentor pilot to fly with them for a while after they take delivery. These mentor pilots are usually corporate pilots or flight instructors looking for some side work. They can also be retired airline pilots who want to stay active. Wherever they come from they all bring a high level of experience and professionalism into the cockpit.

The mentors don’t actually fly the airplane, but are there to lend their expertise and guidance whenever the need arises. Our customers aren’t the only ones who like the mentor program; the insurance underwriters are very supportive of it too.