Corporate Aircraft Time Sharing Agreement

Today`s budget-conscious company may mistakenly create an aircraft operating structure that does not comply with the Federal Aviation Regulations (FARs) and is not covered by the insurance policy. Time sharing is defined in 14 CFR.91.501(c)(1) of the Federal Aviation Regulations (FARs) as an „agreement where by which a person leases his or her flight crewed aircraft to another person and does not apply to flights operated under this Agreement, except for flights referred to in paragraph (d) of this paragraph.” 6. The owner shall be solely responsible for the maintenance, preventive maintenance and necessary or necessary inspections of the aircraft and shall take these requirements into account when planning the flights of the individual aircraft. . . .

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