One of the best components of value on an aircraft is its records.
The records, often called logbooks, are the written history of the aircraft and include:
- maintenance work orders
- part tags – the documentation declaring that an aircraft part has been certified by an approved facility and is safe to install
- STC’s – documentation of interior and avionic installations
The Problems
Without complete records, it becomes almost impossible to import or export an aircraft. Jurisdictions require all documentation before allowing an aircraft onto their registry and missing records cause serious problems and often mean complete denial to this process.
If a part tag is missing, a new part will need to be installed with a new tag. It is a waste of time and money to replace a perfectly good part simply because the proper tag is missing. For example, we purchased Phenom 100 in early 2021 and during the Pre-Purchase Inspection, a part tag for the flap actuator was missing from the records. The part worked completely fine but because the tag was missing, the part had to be replaced which cost the seller $25,000.
European AOCs and Part 135 operators in the USA require all aircraft records to be intact and anything missing can result in not being approved to go on them (which can then affect your tax structure in Europe among other issues).
An Easy Solution
Digitally scan your records. This allows for quick access whenever and wherever they are needed. It provides a backup if an original gets lost which can then be requested for a reprint if a physical copy is needed. While not as good as an original, digital copies are incredibly helpful and solve many problems that arise.
The older an aircraft gets, the more valuable its records are. It will have more history and more records which also means more chances for something to go missing.
Steps of Action
Hopefully your operator is already scanning any documentation on your aircraft for you and saving them in the cloud. You should check that they are, but if they are not, get them to start from now on. You may have to hire someone to scan your entire records, but it will be worth it and ensure a much smoother ownership and resale experience. Store everything in a cloud storage service where you can access and own it, regardless of who your operator is. Surprisingly, most aircraft paperwork is given digitally these days but not stored as such. Speak with your management company and stress the importance of this to them.
