Transcript:

An aircraft time share is one of the few cases where the FAA will allow an aircraft operator to charge for providing air transportation, even though the operator is not a certificated air carrier. Normally, a time shared aircraft must be either over 12,500 pounds gross takeoff weight, a multi-engine jet, or a fractional plane. However, smaller planes can also qualify by filing for the NBAA small aircraft exemption. The operator of a time shared aircraft must be a company and can charge no more than reimbursement of a certain operating expenses specified by the FAA, plus an extra surcharge equal to effectively the cost of the flight’s fuel. The operator also cannot market itself as a time sharer, or view time sharing as its business. As for example may be true of a flight department company.