Flight property definition

Flight property broadly means all airline company aircraft used in the state except aircraft that are per- manently removed from opera- tions. “Aircraft” is statutorily defined as “any device that is used or designed for navigation or flight through the air.” Id. § 42- 14251(2). Arizona statutes require the full cash value of flight proper- ty to be determined, in part, by the capitalized acquisition cost of the “airframes,” which include every component of an airplane with the exception of the airplane’s power plant. “Airframes” necessarily include avionics software installed on airplanes at the time of pur- chase, and thus the Department should include the software in its valuation. Southwest Airlines Co. v. Arizona Department of Revenue, 1 CA-TX 07-0002, 1/29/08. AZ
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Flight property means all aircraft and flight equipment used in connection therewith, including spare flight equipment. Flight property also includes computers and computer software used in operating, controlling, or regulating aircraft and flight equipment.new text begin Flight property does not include aircraft with a maximum takeoff weight of less than 30,000 pounds. new text end
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Flight property means aircraft fully equipped, ready for flight used in air commerce.
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More Definitions of Flight property

Flight property means all airline company aircraft of the types used in this state except aircraft that are permanently removed from operations.
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Related to Flight property

  • Joint Property means property that is owned by 2 or more persons with rights of survivorship, and includes a tenancy by the entireties in real property, a tenancy in personal property as provided in section 1 of 1927 PA 212, MCL 557.151, a joint tenancy, a joint tenancy with rights of survivorship, and a joint life estate with contingent remainder in fee. For purposes of this part, joint property is considered to consist of a present interest and a future interest. The future interest is the right of survivorship.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • CONSTRUCTION EQUIPMENT means all appliances and equipment of whatsoever nature for the use in or for the execution, completion operation or maintenance of the work unless intended to form part of permanent work.

  • Property, Plant and Equipment means any item of real property, or any interest therein, buildings, improvements and machinery.