Sept Issue
Year 2008

Welcome to PIREPS!

We’ve created PIREPS to bring you the latest news and information from Premier Aircraft Sales, Inc., and the new aircraft manufacturers we represent: Mooney and Diamond. Plus, each month, you’ll get tips on aircraft ownership, safety, maintenance, and a lot of other insights that will help you get the most out of the aircraft you already own or are planning to buy.

If you have any subjects you’d like to see us cover in upcoming issues of PIREPS, just send an email to our editor, Dale Smith at: dale.smith@flypas.com.

Premier’s Upcoming Events And

Diamond D-JET Tour Schedule

September

Texas Aircraft Expos

See all the latest general aviation aircraft models in one day at an airport near you. Plus, get information on insurance, taxes and financing.

Midland/Odessa, Texas

Wednesday, Sept. 17

Far Mor Aviation, Odessa-Schlemeyer Field (ODO)

Lubbock, Texas

Thursday, Sept. 18

Lubbock Aero, Lubbock Preston Smith International (LBB)

Amarillo, Texas

Friday, Sept. 19

TAC Air, Rick Husband Amarillo International (AMA)

For more information visit: www.TexasAircraftExpo.com or call Stephanie Phillips at Premier Aircraft Sales: 800.564.2463.

Diamond D-JET Mock-up Tour

See a full-sized mockup of Diamond aircraft’s D-Jet, slated for delivery beginning in 2009 and the most affordable, economical and comfortable personal light jet on the market.

Dallas area/Addison,Texas

Wednesday-Thursday, Sept. 24-25

Cavanaugh Flight Museum, Addison Airport (ADS)

Dallas area/Addison, Texas

Saturday and Sunday, Sept. 27-28

Premier Aircraft Sales, Addison Airport (ADS)

For more information call Stephanie Phillips at Premier Aircraft Sales for details: 800.564.2463.

FLYING Magazine Parade of Pistons

See all the latest general aviation aircraft models in one place.  Plus, get information on insurance, taxes and financing.

Asheville, North Carolina

Thursday-Saturday, Sept. 25-7

Million Air, Ashville Regional Airport (AVL)

For more information visit: www.paradeofpistions.com      

October

NBAA 2008

Orlando, Florida

Monday, Oct. 6 through Wednesday, Oct. 8.

61^st Annual National Business Aviation Association Convention, Orange County Convention Center, Orlando Florida. For information visit: http://web.nbaa.org/public/cs/amc/2008/

Texas Aircraft Expos

Fort Worth, Texas

Thursday, Oct. 16

Texas Jet, Fort Worth Meacham International Airport (FTW)

Dallas area/Addison, Texas

Friday, Oct. 17

Premier Aircraft Sales, Addison Airport (ADS)

For more information visit: www.TexasAircraftExpo.com or call Stephanie Phillips at Premier Aircraft Sales: 800.564.2463.

It’s Time to Decide!  The Maximum 2008 Bonus Depreciation Tax Incentive On New Aircraft Expires Sept. 30

Don’t say we didn’t warn you. You only have until Sept. 30th to take delivery on a new airplane and qualify for the maximum 2008 bonus depreciation allowed under the Recovery Rebates and Economic Stimulus for the American People Act 2008.

This program offers accelerated tax deductions to qualifying businesses that take delivery of a new aircraft before the end of 2008, but maximum 2008 deductions are only available on aircraft delivered by Sept. 30, 2008.

“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,” explained 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%

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

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

Ovation3                        $474,900                     $384,940             81%

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

These are typical deductions available on aircraft purchased and put into service by Sept. 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,” said Lou Meiners, president of Advocate Tax consulting. “There’s an incredibly attractive opportunity here – but you have to understand the rules.”

To learn more about this exciting savings opportunity and to arrange a demonstration flight in the new Mooney or Diamond of your choice, contact us and we’ll put you in touch with the specialist in your area. Call: 800.903.8402. In Texas call: 800.564.2463. In the Mid-Atlantic States call: 877-258-8011.

*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.

Diamond Announces $3,000 Tax Incentive Bonus Offer

On New DA40 XLS’s Purchased By Sept. 30!

If the opportunity to take advantage of the huge 2008 aircraft depreciation tax benefit isn’t enough to you, Diamond Aircraft has announced a $3,000 cash back incentive on any new Diamond DA40 XLS bought and delivered between Aug. 20 and Sept. 30, 2008.

Diamond and its distributors are offering $3,000 in cash back incentives to pay for the tax and legal services needed to take advantage of this tax savings opportunity. Customers not eligible for tax savings can apply for a fuel credit in the same amount – with the DA40 XLS’s low fuel burn, that’s enough fuel for around 60 hours of flight time.

Mooney Acclaim Type S Gets Crowned “The King Of Speed” In The September Issue Of AOPA Pilot Magazine

In case you have not seen it, the Mooney Acclaim is the cover story in the September issue of AOPA Pilot magazine. What did AOPA Pilot’s Associate Editor Ian J. Twombly have to say about the Type S? “Mooney’s new Acclaim Type S is a joy to fly. It’s comfortable, efficient, responsive, stable, and of course, fast.”

Hey Taxi! Louisville-Based YourJet Selects Diamond D-JET For New Regional On-Demand Air Taxi Service

While many travelers are down on the current state of commercial air travel, one man in particular sees it as the best possible situation. “Scheduled airlines are pulling out of small regional airports so they are literally giving us the regional market,” explained Todd House, founder of air-taxi start-up YourJet. “Their lack of service favors the emerging per-seat, on-demand air taxi services. Our business model will give business and vacation travelers better service than they had before.”

“And with the combination of the efficiencies of new computer scheduling and on-board avionics systems, we are confident we can get our per-seat price point down to where it will be affordable to people who are currently flying the airlines,” House said. “This is a cost-effective, safe, and highly convenient mode of travel – and there are no luggage hassles or long security lines.”

At the heart of YourJet’s ambitious business model is the efficiency, comfort and performance found in the Diamond D-JET. “The D-JET is central to our plan,” House said. “We needed the most efficient platform possible – and that is the single-engine D-JET.” YourJet currently holds delivery positions for six D-JETs, but their business plan calls for a fleet of 25 jets.

House said that along with the D-JET’s unmatched efficiency, YourJet made its selection because of the vision of Diamond’s CEO Christian Dries. “We liked Christian’s vision of what a personal light jet should be,” House said. “His vision for efficiency and safety matched our vision of the future of regional personal jet travel perfectly.”

“We don’t need to go higher than 25,000 feet. We do need the larger, more comfortable cabin. And we don’t need two jet engines when Christian has selected Williams engines for the D-JET: the engine manufacturer with the best overall safety and reliability record of them all,” House continued.

YourJet is currently offering on-demand air taxi flights to cities within 700 miles of its home base in Louisville, Kentucky. “We are using a mixed-fleet of piston-engine aircraft including a Diamond DA42 Twin Star,” House said. “Our customers love the DA42, so I know with its great ‘big aircraft’ ramp presence the D-JET will be a real hit with them.”

Diamond Announces Both Pressurized And

Jet-Fuel Diesel Powered Versions Of The DA50

Diamond Aircraft Company took advantage of the recent Oshkosh/AirVenture to announce that the upcoming DA50 SuperStar will now be available in two versions – the pressurized DA50 Superstar and a jet-fuel diesel-powered variant, the DA50 Magnum.

“When we started taking position reservations for the DA50 we got clear feedback that customers loved the idea of a truly high-performance, modern, five-place aircraft. But many prospects asked us to take the concept a step further by adding pressurization to allow them to take full advantage of the aircraft’s 25,000 foot ceiling and turbo power,” explained Heike Larson, vice president for sales and marketing at Diamond Aircraft. “The new pressurized DA50 is our answer to that request.”

“The pressurized DA50 will offer pilots a significant boost in utility, comfort and performance compared to what is currently available in this category of aircraft,” added Jeff Owen, regional Diamond sales manager, Premier Aircraft Sales, Inc. “We anticipate that a significant number of pilots currently flying high-performance piston singles will trade up to the comfort and convenience of pressurization and the flexibility of a fifth seat. I think this airplane will redefine high-performance, fixed-gear piston singles.”

While many pilots demand only the highest performance, the rapid rise in fuel costs has left other pilots looking for a more efficient alternative. To meet their needs, Diamond has also announced the new DA50 Magnum, which will be powered by the new 170 horsepower jet-fuel burning Austro AE 300 engine.

“In the year since Diamond introduced the five-place DA50, we have had many pilots say they want the added space and comfort of the DA50, but they did not need the aircraft’s capability to climb to 25,000 feet,” Owen added. “Plus, with the rising cost of fuel, they are looking for an aircraft that delivers better fuel economy.”

“The Magnum answers the needs of these ‘green thinking’ pilots. It delivers all the room they want, along with the efficiency of a diesel engine,” he said. “Judging by the number of inquiries we’ve had here at the show, I think this is going to be a very popular aircraft.”

November “Fly-In And Help Out” Trip Nov. 6th Through 9^th

Begins Set-Up of Complete Dental Clinic in Eleuthera

While every Bahamas Fly-In and Help Out mission is important, this November’s trip to the Bahamas will be especially key because the organization is going to begin transportation and setup of a complete dental clinic at Camp Symonette, the organization’s main base of operations in central Eleuthera.

“The dental clinic equipment was a very generous gift from Dr. Herbert Rust and his lovely wife Louise,” explained John Armstrong, vice president of Bahamas Habitat and regional manager for Dominion Aircraft Sales. “We are extremely grateful to Dr. Rust for his generous donation and his enthusiasm to be part of this project.”

“The Flying Dentists Association has learned about our efforts to establish a dental ministry and they are very anxious to help us,” Armstrong said. “Several of their members will be on the committee for the site selection and development of this much-needed facility. We are actively seeking other flying dentists to come and join this project.”

“What makes this mission so unique is that the Bahamas are so easily accessible by general aviation aircraft, and the islands are so desperately in need that it provides the ideal opportunity for a mission-minded pilot to “give back” in a meaningful, exciting and tax deductible way,” Armstrong added.

Pilots and crew participating in the November Fly-In and Help Out mission will meet at Premier Aircraft Sales’ headquarters at Fort Lauderdale Executive Airport (FXE) on Thursday, Nov. 6 for lunch and pilot briefings prior to departing to Eleuthera. Lodging and transportation on the island are arranged for the group.

“If you’ve ever wanted to fly your airplane to the Bahamas, this is the perfect way to learn to learn the ropes while supporting a valuable mission,” Armstrong said. “We had pilots join us from all over during our Fly In & Help Out event last winter, and in every case the experience really touched their hearts (see: Fly In Help Out Touches Hearts post). We had about 14 aircraft on previous trips. We can house up to 60 people at Camp Symonette so our goal is about 20-25 aircraft for the event this November. We hope to form partnerships with various aviation organizations including type clubs, flying clubs and aviation media organizations to grow and support this valuable mission.”