IBAC DEFINITIONS OF BUSINESS AVIATION
“That sector of aviation which concerns the operation or use of aircraft by companies for the carriage of passengers or goods as an aid to the conduct of their business, flown for purposes generally considered not for public hire and piloted by individuals having, at the minimum, a valid commercial pilot license with an instrument rating.”
Sub-Divisions of The Definition
From time to time, this definition for Business Aviation may not suit the specific requirements of a particular issue. Therefore, there are
four sub-divisions for the segments that collectively make up business aviation.
Sub-division 1: Business Aviation – Commercial
The commercial operation or use of aircraft by companies for the carriage of passenger or goods as an aid to the conduct of their business and the availability of the aircraft for whole aircraft charter, flown by a professional pilot(s) employed to fly the aircraft.
Sub-Division 2: Business Aviation – Corporate
The non-commercial operation or use of aircraft by a company for the carriage of passengers or goods as an aid to the conduct of company business, flown by a professional pilot(s) employed to fly the aircraft.
Sub-Division 3: Business Aviation – Owner Operated
The non-commercial operation or use of aircraft by an individual for the carriage of passengers or goods as an aid to the conduct of his/her business.
Sub-Division 4: Business Aviation – Fractional Ownership
The operation or use of aircraft operated by an entity for a group of owners who jointly hold minimum shares of aircraft operated by the entity. Fractional Ownership operations are normally non-commercial; however, the operation of the aircraft may be undertaken as a commercial operation in accordance with the AOC held by the entity.