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14 CFR Ch. I (1–1–19 Edition) 

§ 91.1001 

program aircraft having more than one 

(iv) Possession of at least a minimum 

fractional ownership interest in one or 
more program aircraft by each frac-
tional owner. 

(v) A dry-lease aircraft exchange ar-

rangement among all of the fractional 

(vi) Multi-year program agreements 

covering the fractional ownership, 
fractional ownership program manage-
ment services, and dry-lease aircraft 
exchange aspects of the program. 

(6) A 

fractional ownership program air-

craft or program aircraft 


(i) An aircraft in which a fractional 

owner has a minimal fractional owner-
ship interest and that has been in-
cluded in the dry-lease aircraft ex-
change pursuant to the program agree-
ments, or 

(ii) In the case of a fractional owner 

from one program operating an aircraft 
in a different fractional ownership pro-
gram managed by an affiliate of the op-
erating owner’s program manager, the 
aircraft being operated by the frac-
tional owner, so long as the aircraft is: 

(A) Included in the fractional owner-

ship program managed by the affiliate 
of the operating owner’s program man-
ager, and 

(B) Included in the operating owner’s 

program’s dry-lease aircraft exchange 
pursuant to the program agreements of 
the operating owner’s program. 

(iii) An aircraft owned in whole or in 

part by the program manager that has 
been included in the dry-lease aircraft 
exchange and is used to supplement 
program operations. 

(7) A 

Fractional Ownership Program 

Flight or Program Flight 

means a flight 

under this subpart when one or more 
passengers or property designated by a 
fractional owner are on board the air-


Fractional ownership program man-

agement services or program management 

mean administrative and avia-

tion support services furnished in ac-
cordance with the applicable require-
ments of this subpart or provided by 
the program manager on behalf of the 
fractional owners, including, but not 
limited to, the— 

(i) Establishment and implementa-

tion of program safety guidelines; 

(ii) Employment, furnishing, or con-

tracting of pilots and other crew-

(iii) Training and qualification of pi-

lots and other crewmembers and per-

(iv) Scheduling and coordination of 

the program aircraft and crews; 

(v) Maintenance of program aircraft; 
(vi) Satisfaction of recordkeeping re-


(vii) Development and use of a pro-

gram operations manual and proce-
dures; and 

(viii) Application for and mainte-

nance of management specifications 
and other authorizations and approv-

(9) A 

fractional ownership program 

manager or program manager 

means the 

entity that offers fractional ownership 
program management services to frac-
tional owners, and is designated in the 
multi-year program agreements ref-
erenced in paragraph (b)(1)(v) of this 
section to fulfill the requirements of 
this chapter applicable to the manager 
of the program containing the aircraft 
being flown. When a fractional owner is 
operating an aircraft in a fractional 
ownership program managed by an af-
filiate of the owner’s program man-
ager, the references in this subpart to 
the flight-related responsibilities of 
the program manager apply, with re-
spect to that particular flight, to the 
affiliate of the owner’s program man-
ager rather than to the owner’s pro-
gram manager. 

(10) A 

minimum fractional ownership 



(i) A fractional ownership interest 

equal to, or greater than, one-sixteenth 



) of at least one subsonic, fixed-wing 

or powered-lift program aircraft; or 

(ii) A fractional ownership interest 

equal to, or greater than, one-thirty- 
second (



) of at least one rotorcraft 

program aircraft. 

(c) The rules in this subpart that 

refer to a fractional owner or a frac-
tional ownership program manager 
also apply to any person who engages 
in an operation governed by this sub-
part without the management speci-
fications required by this subpart. 

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16:30 Jun 25, 2019

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