Some good news came last year in the form of the long-awaited final rule on fractional operations. Known formally as “Regulation of Fractional Aircraft Ownership Programs and On-Demand Operations,” the new rule was published on Sept, 17, 2003, and, for existing frax operators, affects flights conducted after Dec. 17, 2004. Still, industry’s challenge in 2004 will be to read and understand the 70-page final rule and comments-disposition document and the major or minor changes it makes to FAR Parts 61, 91, 119, 125, 135 and 142. Despite the rule’s size and complexity, it was uniformly hailed by industry as a “good thing” when it was released. The trick will be to consistently assimilate it into new and existing fractional and charter operations. Already, a series of joint FAA-industry seminars are underway to help both agency managers and industry executives better understand what is expected of them and where the pitfalls are.
…New Frax Rules…
Key Takeaways:
- A new, long-awaited final rule, "Regulation of Fractional Aircraft Ownership Programs and On-Demand Operations," was published on September 17, 2003, and became effective for fractional operators on December 17, 2004.
- Despite its 70-page length and complexity, the industry uniformly hailed the new regulation as a positive development.
- The primary challenge for the industry in 2004 is to thoroughly understand and consistently assimilate the rule's changes into new and existing fractional and charter operations, impacting various FAR parts.
- Joint FAA-industry seminars are being conducted to help both agency managers and industry executives better understand the new rule and its implementation.
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