Aircraft Time Sharing Agreement
Although a part-time flight is a non-commercial portion to the FAA, faA and IRS do not use the same definitions and the federal excise (FET) must be collected and transferred to the IRS for part-time flights. 2. The tenant pays the landlord, for each flight made under this agreement, the actual costs for each flight determined in accordance with section FAR 91.501 d), as from time to time in effect. At the time of this agreement, these costs include and are limited: the structuring of the ownership and operation of business aircraft can be complex and varies greatly from aircraft to aircraft. To avoid inefficient and illegal transactions, corporate advisors will want to hire a corporate aviation lawyer to reduce costs, ensure FAA compliance and create added value by creating a custom operating structure for enterprise aircraft. 1. Subject to the terms of this contract, the owner undertakes to: lease the aircraft to the tenant in accordance with the provisions of Far 91.501 (c) (1) and to provide a fully qualified flight crew for all flights scheduled during the period from the date of this agreement, in accordance with the provisions of this agreement, and the prior consent of the owner and tenant. (b) the termination date of the employment relationship with the landlord and (c) the date of the tenant`s death153. The owner has the right to add or replace aircraft of the same nature, quality and equipment from time to time during this agreement, and to remove aircraft from the fleet from time to time.
The landlord must send the tenant a revised A-exposure with each modification of the aircraft. C. From time to time, the tenant may rent the aircraft by the landlord for the tenant`s personal trip 153 at the discretion of Tenant 153 at The discretion of Pesser153 after a timely participation in accordance with Section 91.501 (c) (1) of the Federal Aviation Regulations (“FAR”). Using a time allocation agreement, an aircraft operator can request a limited refund for a flight. Under this agreement, a company is authorized to lease its flight crewed aircraft to another person or company. In return, the aircraft operator may obtain a refund for a specific list of out-of-pocket flight costs, including an amount equal to twice the cost of fuel consumed on the flight. The following fees are allowed at FAR 91.501 (d): 17. Any notification, request or notification to another party under this agreement must be sent in writing and is deemed to have received a notification with received in person on the day (i), (ii) a fax is sent or (iii) three (3) calendar days after Derfax by compliant card, received, paid port and addressed to the party at the address listed below. The address of a party to which the communications or copies of the notification must be concluded may be changed from time to time by that party by written notification to the other party. Guidelines and reflections on joint leasing and management agreements with business aircraft, such as. B the distribution of time. 7.
The owner is responsible for the physical and technical operation of the aircraft and the safety of all flights and retains full authority and control, including exclusive operational control, and possession of the aircraft for the duration of this agreement. The landlord employs, pays and provides the tenant with a qualified flight crew for each flight conducted under this agreement.