an aircraft llc operating agreement dictates the terms, conditions, and member guidelines for a flying club organized as a limited liability company.3 min read if you are a pilot or own a business that has use for a private aircraft, it may be worthwhile to consider owning a business aircraft. however, the costs of owning an aircraft are high, especially if it’s not always in use. for this reason, many businesses share these costs with one or more partners, instantly reducing the fixed costs of owning a plane by at least half. you can submit a statement in support of registration by an llc to the federal aviation association for this purpose. this type of operating agreement typically dictates how the group’s members should care for and use the aircraft owned by the club. when writing the agreement, include members in the process to ensure that the guidelines are comprehensive and that everyone feels ownership and camaraderie as part of the club. in many cases, your members may be pilots who are in a recreational club setting for the first time.