Cirrus Sales Surpass 2003
Cirrus Aircraft announced on Friday that sales orders so far in 2004 have already surpassed the total number of aircraft deliveries in 2003. Last year, Cirrus reported 469 aircraft deliveries, and last week, Cirrus said it has sold its 475th aircraft for 2004. "Recently we had an incredible week [43 aircraft sold] that pushed us past last year's delivery total," John M. Bingham, executive vice president of sales at Cirrus, said in a news release on Friday. Cirrus said it has 45 delivery spots left before the close of the year. The "bonus-depreciation" tax relief act now in effect allows buyers to write off accelerated depreciation on new aircraft bought before Dec. 31. The Jobs and Growth Tax Relief Reconciliation Act of 2003 included an incentive for companies to buy new capital equipment, including business aircraft. The incentive changes the timing of the standard depreciation schedule to give more depreciation in year one but less depreciation in all future years (the total amount of depreciation remains unchanged). Cirrus Design Corporation is based in Duluth, Minn., and has an additional manufacturing facility in Grand Forks, N.D.