On Tue, 11 Sep 2007 08:22:51 -0500, "Gig 601XL Builder"
wrDOTgiaconaATsuddenlink.net wrote in
:


You say that like Fractional ownership is a new thing. It has been around
for years. We just called it partnerships and flying clubs in the past.

You are obviously unaware of the recent regulation changes concerning
fractional ownership. You can start your research he

http://web.nbaa.org/public/ops/fractional/
Fractional Aircraft Ownership Regulation Background & Rulemaking

Fractional ownership operations began in 1986 with the creation of a
program that offered aircraft owners increased flexibility in the
ownership and operation of aircraft. This program used current
aircraft acquisition concepts, including shared or joint aircraft
ownership, and provided for the management of the aircraft by an
aircraft management company.

The aircraft owners participating in the program agreed not only to
share their own aircraft with others having a shared interest in that
aircraft, but also to lease their aircraft to other owners in the
program (dry lease exchange program). The aircraft owners used the
common management company to provide aviation management services
including maintenance of the aircraft, pilot training and assignment,
and administration of the leasing of the aircraft among the owners.

During the 1990's the growth of fractional ownership programs was
substantial and this growth is expected to continue. As these programs
grew in size, complexity and number, there was considerable
controversy within the aviation community as to their appropriate
regulatory structure. Additionally, the FAA had evolving concerns
regarding issues of accountability and responsibility for compliance
(operational control).


--------------------------------------------------------------------------------

FAA Amends Regulatory Compliance Date for Fractional Operations
On December 14, 2004 the FAA issued a notice that corrects the date by
which all fractional operations must be in compliance with FAR Part
91, Subpart K. NBAA was expecting the correction that changes an
incorrect December 17, 2004, compliance date to February 17, 2005. All
fractional operations will be in compliance with the new rule by the
February 2005 deadline.

Download the notice as it appeared in the Federal Register (52 KB,
PDF)
Federal Register Publishes Fractional Ownership Final Rule
September 17, 2003
On September 17, the FAA's final rule "Regulation of Fractional
Aircraft Ownership Programs and On-Demand Operations" was published.
The rule sets regulatory standards for fractional ownership operations
(Part 91, Subpart K) and updates requirements for on-demand charter
operations (Part 135).

Download the rule as it appeared in the Federal Register (404 KB, PDF)