✈️FAA Requests Comments on Fractional Aircraft Ownership Programs
Agency Information Collection Activities: Requests for Comments; Clearance of Renewed Approval of Information Collection: Fractional Aircraft Ownership Programs
Summary
In accordance with the Paperwork Reduction Act of 1995, FAA invites public comments about our intention to request Office of Management and Budget (OMB) approval to renew an information collection. The Federal Register Notice with a 60-day comment period soliciting comments on the following collection of information was published on January 28, 2025. Fractional Ownership is a program that offers increased flexibility in aircraft ownership. Owners purchase shares of an aircraft and agree to share their aircraft with others having an ownership share in that same aircraft. Owners agree to put their aircraft into a "pool" of other shared aircraft and to lease their aircraft to another owner in that pool. This collection is necessary to ensure compliance with relevant safety regulations.
Agencies
- Transportation Department
- Federal Aviation Administration
Business Impact
$$ - Med
The regulatory notice involves a renewed information collection related to fractional aircraft ownership programs, requiring compliance from operators and owners. This has direct implications for businesses in the aviation sector, as they must ensure adherence to safety regulations and could impact operational costs and management.