### Question
How does AVIATION PROGRAMS define joint venture agreement?


### Answer
Under *49 U.S.C. § 41720*, **joint venture agreement** is defined as:

> an agreement between two or more major air carriers on or after January 1, 1998, with regard to (A) code-sharing, blocked-space arrangements, long-term wet leases (as defined in section 207.1 of title 14, Code of Federal Regulations) of a substantial number (as defined by the Secretary by regulation) of aircraft, or frequent flyer programs, or (B) any other cooperative working arrangement (as defined by the Secretary by regulation) between 2 or more major air carriers that affects more than 15 percent of the total number of available seat miles offered by the major air carriers

#### Citation:
  - *49 U.S.C. § 41720*
  - Heading: **SUBTITLE VII-AVIATION PROGRAMS > PART A-AIR COMMERCE AND SAFETY > subpart ii-economic regulation > CHAPTER 417-OPERATIONS OF CARRIERS > SUBCHAPTER I-REQUIREMENTS**

