• The Importance of Corporate Flight Records

    Note: Recently, the Wall Street Journal ran an article titled "Corporate Jet Set: Leisure vs. Business", which analyzed the use of business jets by Named Executive Officers (NEO's) of major corporations. In addition, they created the WSJ Jet Tracker, which allows the public to research FAA records for flight history of corporate aircraft. This is an excellent example of the need for proper compliance and recordkeeping, and AircraftLogs provides the best solution for accurate treatment of aircraft accounting and corporate disclosures. Please read on for more information about this important topic.

  • Important Factors Impacting Aviation Recordkeeping

    Post-flight records have become a critical "data set" in all Part 91 Flight departments. Several factors are driving a change in flight department operations:

    • The current economy is increasing pressure for efficiencies in all companies.
    • The current Congressional, IRS and media crackdown on corporate jets is leading senior management of all companies to ensure their aircraft operations are fully compliant with IRS, FAA and SEC regulations.
    • Advancements in technology provide greater data management capabilities within Flight Departments, but this also allows regulators to increase documentation requirements.
      • This is especially prevalent in new IRS regulations and SEC regulations.
      • Further FAA and TSA requirements are expected.
  • Implications of These Factors

    While the factors above have been building for several years, the recent impact of the weak economy has created a "tipping point". The implications of these factors are the following:

    • Flight Departments must proactively demonstrate the value provided to their corporate owners during these difficult economic times, eliminating any doubt in the minds of senior leadership
    • Flight Department management must have a precise understanding of their data and act upon the information it provides, staying ahead of the game:
      • Taking actions to improve efficiency and costs where able
      • Taking advantage of the visibility it provides to improve management processes
      • Identifying areas to increase the strategic value of the Flight Department
    • Flight Departments must demonstrate a high degree of non-flying professional management and expertise during interactions with company leadership.
  • The Resulting Importance of Post Flight Records

    Post-Flight records have become the single most important data asset of your flight department:

    • They drive your reporting to management and are the core data elements for demonstrating value
    • They allow your Flight Department to manage its business effectively
    • Your depth of understanding of your own data provides the context for all discussions that your personnel have with corporate personnel. Your organization needs to communicate effectively with corporate.

    AircraftLogs is designed to maximize the value of your flight records, and minimize your effort in extracting that value from the raw data.

  • What are Post-Flight Records?

    In our view, post flight records include the following seven categories of information:

    1. Basic Flight Leg Data (airport pairs, on/off times, durations, etc)
    2. Crew Management Data (pilots as PIC/SIC, duty times, pilot flying/pilot-not-flying)
    3. Conditions of Flight (approaches, holds, night, instrument, simulation, etc.)
    4. Passenger data (business purpose for flight, identification, employee status, company tax status)
    5. Fuel Accounting and Trip Expenses (Fuel purchases and fuel burn, fuel cost and taxes and other charges)
    6. All Other Expenses
    7. Aircraft Data (hours in service, engine cycles, landings)

    This data is the basis for all "downstream" reporting, whether used internally by the flight department or synthesized into reports for senior management. It is the most critical information in the Flight Department.

    Almost all Flight Departments have this data in "raw form" in various paper forms, spreadsheets or accounting systems. Housing this data in a single, integrated system is a critical requirement for Flight Departments to be able to guide their own future within a corporation. Without control of this data, Flight Departments may not properly communicate the value they provide to senior management, either through lack of communication or through ineffective reporting.

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