Transcript:

The term fractional refers to a specific type of aircraft co-ownership, where operations fall under federal aviation regulations, part ninety one, sub-part K. These involve a fractional management company that retains control over aircraft, but sells partial interests in them to fractional customers. These partial interests entitle the customers to use a certain number of flight hours on board aircraft the fractional company manages. Fractional companies generally pay a monthly fee, in addition to a fee per flight hour.