“"I've got a list of corporations that have gotten out of their airplanes [because of criticism from politicians]. It is the stupidest thing I've ever seen. When you look at the time and cost savings; it does not make sense not to fly [privately]. You can't let public perception interfere with your business decision to fly. It either is a good business decision or it isn't."”
Cape Town Treaty Applies To Aircraft Share Owners
Aircraft fractional shareowners can be included in the International Registry of Mobile Assets (IRMA), giving them the same Cape Town Treaty protection that sole owners have had since March 2006.
IRMA management company Aviareto has announced that it has begun registering multiple owners of a single aircraft. Since the whole aircraft must be accounted for, initial registration of fractionally owned aircraft will show that program operators hold 100 percent, which will be diluted until all shares are sold. At that point, the fractional provider will hold "zero-percent" interest.
The treaty protocol applies to fixed-wing aircraft that can carry at least eight people (including crew) or helicopters with a passenger capacity of five or more (including crew). Sixteen countries are signatories to the treaty, which is intended to reduce creditors' risk through the clarification of asset ownership and priorities of financial interest.