Originally Posted by
Pittsextra
So in future maybe the determined will fly G reg? Or just transact via entitles that are offshore and outside of any scrutiny. Never in our lifetimes will you see aviation regulation contain reference to financial regulation because that really would just create more complications that aviation authority will have no experience or expertise and that usually merely opens up loop holes.
Recently we can read about a pilot in Ireland killing himself and photographer. The arrangement a multi year affair. The rules are already in existence we just either havent been looking or have turned a blind eye...
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Never in our lifetimes will you see aviation regulations contain reference to financial regulations"
I don`t know what lays ahead for the little left of mine, but looking back to the days when I had to read the holy book on it there were some references to things to do with finance.Here are some of the lessons from the 2016 version of the Gospel.
“direct cost” means the cost (excluding any element of profit) directly incurred in relation to a flight, including— (a) the cost of fuel; (b) any charges payable in respect of the use of any airfield in connection with the flight; or (c) any rental or hire fees for the use of the aircraft;
“annual cost”, in relation to the operation of an aircraft, means the cost (excluding any element of profit) of keeping, maintaining and operating the aircraft over the period of one year;
Unless I am mistaken, direct cost, cost, profit are financial terms. Wallet size comes into it for weight and balance calculation and perhaps after this event it may take on a much more serious meaning and added to the Gospel as another commandment.
Schedule 1
“annual cost”, in relation to the operation of an aircraft, means the cost (excluding any element of profit) of keeping, maintaining and operating the aircraft over the period of one year;