AircraftLogs is the ideal solution for companies who have their aircraft managed by an outside, third-party management company.
An aircraft management company allows a corporation to hand the management of their daily flight operations over to an organization with the expertise to fly and maintain their corporate aircraft. But certain responsibilities will always remain with your corporate function – and our solutions help your staff manage those tasks:
IRS rules require that senior employees and their guests will incur fringe benefit income, which must be imputed by the employer on employee 1099's or W-2's. Commonly known as “SIFL” these calculations must be performed on applicable flights.
In addition, newer IRS rules now require a portion of the company's cost for owning and operating their aircraft be fully disallowed (becoming non-deductible expenses) when senior management and key principals use the aircraft for flights which are deemed “personal” for tax purposes. Most corporations provide some level of personal use to their executives, and some require their CEO to utilize corporate aircraft for all travel, including personal travel. These organizations are required to “disallow” a portion of their aviation expenses and aircraft depreciation.
SEC Registrants must disclose the incremental cost of providing personal use of the corporate aircraft to Named Executive Officers in their compensation disclosures.
AircraftLogs provides the automated reporting of these requirements, and updates the calculations with the latest regulations and rates.
While a company typically utilizes an aircraft management company to help manage the expense of operating its aircraft, many companies will want to analyze aviation performance metrics and expense information in manners which the management company cannot provide through invoices, flight logs and monthly statements. AircraftLogs provides the tools and the services to allow your corporate staff to gain insight and analytics regarding your operations.
In many cases, companies who utilize outside management companies lack the internal staff to manage the data, but still seek the insight and information. In those cases, our Business Process Solution can supplement their existing resources, providing the extra capacity needed by your company. Whether you use a management company, or you are management company, AircraftLogs can add significant value.
AircraftLogs announced today the first release of its new “Aviation Intelligence” reporting platform, which provides its software clients with unsurpassed data analysis and reporting capabilities. “If there’s one thing that a flight department generates, its data!” said Jordan Pfahl, leader of AircraftLogs BPS service line. “We’ve now made it possible to provide clients with all sorts of analysis. If you’ve captured the data, we can now help you gain further insight about your specific areas of interest.”
AircraftLogs has led the aircraft scheduling market for years with reporting capabilities and performance metrics. “As flight departments have become more sophisticated, more IT-driven, and demanding more data for consumption, we’re giving them that capability” said Andrew Hartley, leader of the AircraftLogs Standard service line. Read More
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