My Opinion Only
Dear Mutt,
It appears that we have no argument. As the full corporate name of Prestige Jet is Prestige Jet Rental and its business is to fly charter aircraft for hire, all of my comments above have been addressed to the issue of an N-registered all-business class B737-500 (not VIP-configured BBJ) operated on commercial services which is openly offered for hire to the public at large, as well as the aviation community.
I agree that anybody can fly any aircraft they want for their own private purposes, under applicable regulations. But any N-registered turbine-powered aircraft offered for public hire must be operated under an AOC and Ops Specs pursuant to the applicable regulations. By all accounts, this aircraft is an N-registered aircraft being operated on behalf of a UAE and/or Jordanian company under no AOC or Ops Specs, with the operator claiming that it is possible to do so under US Federal Air Regulations Part 91.
I do not know how true this is, since one has difficulty believing anything uttered by this operator, but if it is, then it should be an issue for both FAA and GCAA - in my opinion. I could be wrong....
But, let's face it, what I think doesn't matter or count for much, if anything. It is whether the appropriate authorities agree with this analysis of the regulations and whether they have the concern and motivation to do anything about it, that counts.
Cheers, Mate.