THE FAA MAY SOON CLAIM that certain flight operations are ``illegal fractionals.'' FAR Part 91, Subpart K became effective Nov. 17, 2003, but existing fractional operations were allowed to operate without management specifications until Feb. 17, 2005. The grace period is now officially over. A flight program that sells ``shares'' of an aircraft and provides pilots to the share ``owners'' must meet the requirements of Subpart K, which was modeled closely after Part 135 and imposes as ...

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