Banyan Air Services, Inc at KFXE has placed liens on the former Jet University leaseback planes for unpaid fuel bills. These liens were filed with the FAA on May 11, 2009 and on June 29, 2009. The amount owed is in excess of $28,000.
Jetuniversitysucks.com spoke with an owner of one of the former Jet University aircraft who indicated he was caught by surprise with this action.
The owners of the former leaseback airplanes are now stuck with having to pay thousands of dollars in unpaid fuel bills that Jet University did not pay when they shut down.
Most of the Jet University aircraft were in a leaseback program managed by Premier Aviation at KFXE. Such a leaseback program is popular with Doctors and other high net worth individuals as a tax shelter. These individuals can obtain tax benefits with such an arrangement which is not uncommon in the general aviation aircraft category.
High net work customers would purchase aircraft from Premier Aviation and then place those aircraft in "leaseback" with Premier Aviation. Premier would take a management fee for putting the deal together and managing incoming and outgoing expenses. This arrangement allowed Premier to sell more aircraft and owners of those sold aircraft would be able to cover their holding costs on the aircraft.
Here are the aircraft lien statutes for the state of Florida:
329.41 Lien for fuel furnished to aircraft.--A person who has furnished fuel to an aircraft has a lien upon the aircraft for any unpaid fuel charges. The lien is enforceable in the same manner as provided in s. 329.51.
329.51 Liens for labor, services, fuel, or material expended upon aircraft; notice.--Any lien claimed on an aircraft under s. 329.41 or s. 713.58 is enforceable when the lienor records a verified lien notice with the clerk of the circuit court in the county where the aircraft was located at the time the labor, services, fuel, or material was last furnished. The lienor must record such lien notice within 90 days after the time the labor, services, fuel, or material was last furnished. The notice must state the name of the lienor; the name of the owner; a description of the aircraft upon which the lienor has expended labor, services, fuel, or material; the amount for which the lien is claimed; and the date the expenditure was completed. This section does not affect the priority of competing interests in any aircraft or the lienor's obligation to record the lien under s. 329.01.