General aviation industry sales behind last year's pace
August 6, 2011, 11:30 am
According to General Aviation News, the first six months of 2011 saw a 15.5 percent decrease in worldwide shipments of general aviation planes. Nine hundred and thirty-six airplanes were shipped in the same time period in 2010, compared to the 791 shipped so far this year. The total billings for general aviation aircraft declined 22.3 percent to $7.3 billion.
General Aviation Manufacturers Association's CEO and president, Pete Bunce, had choice words for the Obama administration regarding the declining sales of the general aviation industry.
"These negative shipment numbers demonstrate precisely how ill-timed and potentially destructive the Obama administration's rhetoric and policies toward corporate jets are for general aviation," he said. "This administration has singled out business aircraft owners with political demagoguery."
People who own business aircraft are currently allowed to depreciate their investment over a period of five years. Obama has proposed lengthening the depreciation schedule to seven years, stating that the current status quo creates a flagrant tax loophole.
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