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This refers to the shared ownership of expensive assets such as aircraft. In general, the fractional owner pays regular fees to a company that manages the asset (operates the aircraft) on behalf of all owners. Fractional ownership has recently become very popular in business aviation since it reduces the cost of ownership while offering a greater operational flexibility and a wider airport (destination) access.
Air navigation services provider An independent entity established for the purpose of operating and managing air navigation services, and empowered to manage and use the revenues it generates to cover its costs.
Air navigation services This term includes air traffic management (ATM), communication navigation and surveillance systems (CNS), meteorological services for air navigation (MET), search and rescue (SAR) and aeronautical information services (AIS). These services are provided to air traffic during all phases of operations (approach, aerodrome and en route)
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