Originally Posted by
Marekjefrajer
Just to make it clear for me. Part 141 is a regulation for na "FAA approved flight school".
Part 61 is like me and my friend are both CFI... Is that correct?
No.
If you and your friend did this, it would be operating under Part 61.
The place where I fly has three 172s and an Arrow for rent. They offer private, instrument, and commercial training. They have been in business since the 1940s. They do charter in a King Air. It is an extremely professional business that conducts flight training under Part 61.
The most practical benefits I am aware of for going Part 141 are that you can borrow money for it or use Veterans Benefits. While the part 141 syllabus permits training in fewer hours, these hours are often much more costly, so if you don't complete in the minimum time(s) then you have spent a lot of extra money.