How do you guys structure your airplane agreement when it is involved with more than one owner? I know this question has been discussed at great legnth, but I am trying to shed some new light on this without going crazy. This is easier to do with a small single piston such as a flight club, but when one moves on to a turboprop/jet operation the setup always becomes much more complicated.
Company A and Company B want to share an airplane and remain part 91. I have researched this to death and keep coming back to the same problem-Setting up the agreement as an LLC crosses over the line to Pt. 135. Some attorneys say that the only way to legally do this pt 91 is with a joint ownership agreement, but others say that it is possible with both companies being owners of the LLC and the LLC owns the airplane. One aviation attorney even went on to say the only way to ever get the answer to this would be through litigation. Nobody ever wants to go down that road. It can also get very complicated as to where the flight crew is employed with. Will the flight crew will be employed from the LLC, or as a "Flight Department Manager" from company A or B?
Sorry about the mess. Thoughts? Much appreciation to thoughtful/helpful responses.
Company A and Company B want to share an airplane and remain part 91. I have researched this to death and keep coming back to the same problem-Setting up the agreement as an LLC crosses over the line to Pt. 135. Some attorneys say that the only way to legally do this pt 91 is with a joint ownership agreement, but others say that it is possible with both companies being owners of the LLC and the LLC owns the airplane. One aviation attorney even went on to say the only way to ever get the answer to this would be through litigation. Nobody ever wants to go down that road. It can also get very complicated as to where the flight crew is employed with. Will the flight crew will be employed from the LLC, or as a "Flight Department Manager" from company A or B?
Sorry about the mess. Thoughts? Much appreciation to thoughtful/helpful responses.