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NBAA Welcomes Release of FAA Final Rule on Fractional Ownership and On-Demand OperationsContact: Cassandra Bosco
Washington, DC, September 22, 2003 – The National Business Aviation Association (NBAA) welcomes the release of the FAA final rule titled "Regulation of Fractional Aircraft Ownership Programs and On-Demand Operations" published in the September 17 Federal Register. This final rule sets regulatory standards for fractional ownership operations (Part 91, Subpart K) and updates requirements for on-demand charter operations (Part 135).
By updating and revising its regulations governing operations of aircraft in fractional ownership programs, the FAA recognizes the demonstrated safety record of this important segment of business aviation. While the rule is not completely what NBAA expected, it does officially recognize fractional aircraft ownership operations and should help new companies seeking to operate or provide this type of service. NBAA is continuing to review the details of the final rule and soon will release a detailed analysis of its impact.
"We applaud the FAA's effort on the creation of Subpart K and we look forward to working with the Agency on the implementation of the rule," said NBAA President Shelley A. Longmuir. "Traditional Part 91 flight departments are unaffected by Subpart K." Longmuir thanked FAA Administrator Marion Blakey and FAA National Resource Specialist for Part 135, Kathy Perfetti, for their leadership and for shepherding this rule to completion.
Longmuir also stated, "The updated rules for on-demand charter companies will significantly benefit their operational flexibility."
In the coming months, NBAA will offer a new seminar for Part 91 and 135 operators, titled "Operational Control of Business Aircraft in the New Environment," which will review in detail the recent FAR revisions as well as related ownership and operator roles and responsibilities, tax implications and finance options, international operations and aircraft registration considerations. This event is scheduled to be held in New York (December), Los Angeles (January), Dallas (February) and Chicago (June). For more information, contact NBAA's Mike Nichols at (202) 783-9254 or email@example.com, or visit http://web.nbaa.org/public/cs/subpartk.
A copy of the final rule is available as a PDF download from the NBAA Fractional Ownership web site at www.nbaa.org/fractional. For more information, contact NBAA's Douglas Carr at (202) 783-9259 or firstname.lastname@example.org.
NBAA represents the aviation interests of more than 7,300 companies that own or operate general aviation aircraft as an aid to the conduct of their business, or are involved with business aviation. NBAA Member Companies earn annual revenues approaching $5 trillion a number that is about half the gross domestic product and employ more than 19 million people worldwide. The NBAA Annual Meeting & Convention is the world's largest display of civil aviation products and services.
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