Options regarding Shares
Hi Guys
We are a group of six flyers who have been flying together for several years. Recently one member sold his share for financial reasons. We would ideally like him to continue to fly with us. We understand that the CAA requires a minimum of 5% share otherwise it might be deemed as renting the plane out to him. Do we have any options available? Could he, for example, put in a calculated 5% non-voting share in a holding account to be retrieved when he stops flying? Any advice would be gratefully appreciated even if the answer is no options. Cheers.