✈️DOT Notice on Financial Reporting for Small Aircraft Operators
Agency Information Collection; Activity Under OMB Review; Report of Financial and Operating Statistics for Small Aircraft Operators
Summary
In compliance with the Paperwork Reduction Act of 1995, the Bureau of Transportation Statistics invites the general public, industry and other governmental parties to comment on the continuing need for and usefulness of BTS collecting financial, traffic and operating statistics from small certificated and commuter air carriers. Small, certificated air carriers (operate aircraft with 60 seats or less or with 18,000 pounds of payload capacity or less) currently must file the two quarterly schedules: F-1 "Report of Financial Data"; F-2 "Report of Aircraft Operating Expenses and Related Statistics"; and Commuter air carriers must file the Schedule F-1 "Report of Financial Data". Commenters should address whether BTS accurately estimated the reporting burden and if there are other ways to enhance the quality, utility, and clarity of the information collected.
Agencies
- Transportation Department
- Transportation Statistics Bureau
Business Impact
$$ - Med
The text outlines regulatory requirements for small certificated and commuter air carriers regarding the collection of financial and operating statistics. Compliance with these regulations is mandatory, impacting financial reporting and operational transparency, crucial for executives in the aviation industry. Non-compliance could result in penalties or impaired operational eligibility.