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There are a variety of ways companies can own and operate their aircraft, and NBAA continues to provide to Members the information that will help them ascend to a higher level of productivity and growth.
Advantages of aircraft ownership include flexibility and control over all factors relating to transportation, including safety, security, comfort, timeliness and cost of business travel. This control can be maintained by a company flight department or a management company. Other advantages include tax benefits, such as depreciation.
Full ownership allows an individual or entity to own 100-percent of an aircraft. Co-ownership allows multiple companies to share in ownership of an aircraft. Learn more about full & co-ownership.
Joint ownership creates the opportunity to legally share cost and economically justify an aircraft at lower utilization rates. Learn more about joint ownership.
Fractional ownership allows a company or individual to buy a share of an airplane and the fractional program manager handles of all of the details related to flight operations, including (but not limited to) maintenance, hiring pilots, scheduling the aircraft. Learn more about frational owndership.
The charter option creates the opportunity to choose which aircraft, what airport and when to depart and arrive, and adjusting these times as needed. Learn more about the charter option.
Interchange is a very narrow arrangement useful for two (or more) companies, each of which owns an aircraft, to swap time. Learn more about the interchange option.
Leasing an aircraft can be an alternative to outright purchase for a variety of reasons ranging from practicality to cash flow. Learn more about leasing.
Through a time sharing agreement, an aircraft operator is able to seek limited reimbursement for a flight by leasing its aircraft with flight crew to another individual or company. Learn more about time sharing agreements.
The FAA defines operational control, with respect to a flight, as "the exercise of authority over initiating, conducting or terminating a flight." The entity having operational control has regulatory responsibility and legal liability for the operation of the aircraft. Learn more about operational control.