2001 Press Releases

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NBAA Welcomes Official Release of Fractional Ownership Proposed Rule

Contact: Cassandra Bosco

Washington, DC, July 13, 2001 - The National Business Aviation Association (NBAA) welcomed the FAA’s release of the proposed rule that would establish a regulatory environment for fractional aircraft operations and modernize existing regulations for FAR Part 135 certificate holders. The notice of proposed rulemaking (NPRM) will appear in the Wednesday, July 18, 2001, edition of the Federal Register.

"NBAA is encouraged that the proposal submitted by the Fractional Ownership Aviation Rulemaking Committee (FOARC) has remained essentially unchanged," stated NBAA President Jack Olcott. "The release of this proposed rule to the public would not have been possible without the ongoing efforts of the FOARC members and FAA officials, including Kathy Perfetti, FAA Part 135 national resource specialist."

Olcott added, "The regulations governing traditional corporate flight departments were protected, and in certain areas, such as the pilot night currency requirements of Part 61 and the operational requirements for Part 135, the proposal updates the regulations to reflect current aircraft and training technology."

The 90-day comment period will end on October 16, 2001. Olcott concluded, "We encourage all NBAA Members to review the proposal and submit written comments to the FAA’s public docket." The proposal will be available for download on NBAA’s Web site at www.nbaa.org beginning Wednesday, July 18.

NBAA represents the aviation interests of over 6,500 companies which own or operate general aviation aircraft as an aid to the conduct of their business, or are involved with business aviation. NBAA Member Companies earn annual revenues approaching $5 trillion — a number that is about half the gross domestic product — and employ more than 19 million people worldwide. The NBAA Annual Meeting & Convention is the world's largest display of civil aviation products and services.