Compliance, Regulatory Requirements
28 Jan 2025
fractional ownership, aviation, compliance, safety regulations, federal aviation administration
✈️FAA Seeks Comments on Fractional Aircraft Ownership Programs Compliance
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. 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.
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