SHUTDOWN AND PRIVATE AVIATION

The US government shutdown, which began on October 1, has had a greater impact on business aviation than previously thought. 

Due to the closure of the aircraft registration office, the number of registered private jets fell to 12 in the first 10 days of October. Last October, about 250 private aircraft were registered, that is, in the first 10 days about 80 units. According to reports, if this situation persists over the next few weeks, about 120 new aircraft deals will be at risk. 

As a rule, more than a third of aircraft deliveries to owners take place in the 4th quarter of the year, and now these transactions are in question. To hedge against losses, aviation specialists propose when insuring the subject of the transaction to clearly prescribe insured events, in this situation, the closure of registration authorities, the inability to register the aircraft and, as a consequence, the impossibility of starting operation.