Within Part 91, a new FAA ruling more clearly defines the fractional owner’s responsibility of operational control with regards to Aircraft Ownership Liability Laws. This could expose the fractional owner to a significantly greater liability risk in the event of a flight related accident where there is personal injury or property damage. It is a reaction to protect this quickly emerging segment of the flying public.
When this ruling goes into effect, the fractional owner will be required to sign an agreement acknowledging acceptance of operational control responsibility, which also acknowledges exposure to a significant liability risk in the event of a flight-related occurrence that causes personal injury or property damage.
In the past, fractional owners without aviation expertise were not held accountable. Those persons not actually operating or performing maintenance the aircraft were in no way held accountable for anything. This new ruling can directly affect that segment of fractional owners. Simply stated, no longer can a fractional owner reap all the benefits (and there are many) that fractional ownership bestows on them free of the burden of operational control and safety rule compliance. As a fractional owner, there is exposure to potential liability any time the specific shared aircraft is used, if another aircraft within the fractional ownership program and even when the fractional owner is using an aircraft from another fractional ownership program. Distilling this to it’s very essence, it is much like renting a car. Should the renter have an accident in the rented car, they, as well as the car rental company are liable.
The safety standards placed on the fractional fliers via Part 91 is high, higher than before, but not as severe as those of larger or commercial aircraft. Part 91 introduces management, flight control, training and operational restrictions designed and enacted to protect this new segment of the flying public.
