Plain English Meaning
A set of FAA rules that apply when an aircraft is shared by multiple owners under a fractional ownership arrangement and run by a professional management company. The rules cover how those flights must be conducted, maintained, and crewed.
Full Definition
A subpart of Title 14 of the Code of Federal Regulations Part 91 that governs the operation of fractional ownership program aircraft. It sets specific operating, training, maintenance, and management requirements for aircraft flown under fractional ownership arrangements, where multiple owners share an aircraft and use professional management services to operate it.
Context Anchor
Seen in approach planning and operations discussions when the handbook distinguishes normal Part 91 operations from fractional ownership operations.
Derivation
In the Code of Federal Regulations, large rule sets like Part 91 are broken into smaller groupings called 'subparts,' each labeled with a letter. Subpart K is simply the eleventh of those groupings (A, B, C... K). The letter has no meaning beyond its place in the sequence.