The accountant in me is very confused.
A flight school (part 61 and 141) operates out of 3 airports around me, with 11 planes. Renting a Cessna 152 is $89/hr wet Hobbs with no fuel surcharge. A 172 is $126. PPL instruction is $45/hr. My impression is they're among the largest around, certainly not a small operation.
I'm planning on a lot of hours, so am thinking about lowering the long term cost, by putting more in up front. Hoping to not buy my own plane that sits unused periodically, I've been looking at flying clubs & fractional ownership.
I'm looking at http://www.curtiseads.com/aircraft-rental/own-vs-rent-aircraft/ in the $25,000 budget category, which gives estimates at all the hidden ownership costs. (Then compares to renting.)
I've been expecting to find that if I paid in for the equity in the plane (around the purchase price of the aircraft divided by number of members)
to either pay back the purchaser, or cover the monthly payments if financed), and if I bought my own fuel, that I'd be paying a monthly amount to cover the estimated maintenance costs. (Engine overhaul, insurance, annual inspection, prop overhaul, oil, maintenance, etc.) In a non-profit group, anyway.
Going by their guide, since the plane equity is paid for, and the pilot pays for the gas, it looks like the hourly maintenance expenses can be said to be about $21. ($8.33 toward engine overhaul, $0.19 prop overhaul, $1.50 oil, $10 maintenance, $1 avionics.)
But everything I am finding is was unexpected.
$2,000 buyin (bought originally at $4,000, someone's reselling). $100 monthly dues. $95/hour wet tach hours. (Granted it's a 172 not a 152, but again the equity buyin should negate whatever plane it is.)
$1,600 buyin. $60 monthly. $95/hour wet tach hours. (Again, granted it's a 172.)
$4,000 buyin. Fixed monthly expenses split 10 ways. (Amount not given.) $95/hr wet tach. It's a 1969 Cessna 182M.
Let me put it another way. If I started out with another pilot, and we were going to buy a $25,000 plane, it should work out for each of us to put down $12,500. Each of us would buy our own gas (top off tank after landing.) Each of us would contribute the estimated hourly cost toward maintenance, which appears to be about $21/hour. (Or if we trusted each other, when maintenance came up, we'd just pay half the bill, putting money aside on our own for it.) Assuming gas is $45/hour on it, ignoring the purchase price, we'd be paying $66/hour.
Why can't I find anything like this? Do the clubs only deal with planes much more expensive than $25,000?
Is it hopeless for me to hope to pay my own gas, pay about $21/hour for maintenance, and up-front pay my cost of the airplane? Or, do I need to keep looking?
With the lowest club pricing I've found, I'd still be better off just renting from the instructing company.
A flight school (part 61 and 141) operates out of 3 airports around me, with 11 planes. Renting a Cessna 152 is $89/hr wet Hobbs with no fuel surcharge. A 172 is $126. PPL instruction is $45/hr. My impression is they're among the largest around, certainly not a small operation.
I'm planning on a lot of hours, so am thinking about lowering the long term cost, by putting more in up front. Hoping to not buy my own plane that sits unused periodically, I've been looking at flying clubs & fractional ownership.
I'm looking at http://www.curtiseads.com/aircraft-rental/own-vs-rent-aircraft/ in the $25,000 budget category, which gives estimates at all the hidden ownership costs. (Then compares to renting.)
I've been expecting to find that if I paid in for the equity in the plane (around the purchase price of the aircraft divided by number of members)
to either pay back the purchaser, or cover the monthly payments if financed), and if I bought my own fuel, that I'd be paying a monthly amount to cover the estimated maintenance costs. (Engine overhaul, insurance, annual inspection, prop overhaul, oil, maintenance, etc.) In a non-profit group, anyway.
Going by their guide, since the plane equity is paid for, and the pilot pays for the gas, it looks like the hourly maintenance expenses can be said to be about $21. ($8.33 toward engine overhaul, $0.19 prop overhaul, $1.50 oil, $10 maintenance, $1 avionics.)
But everything I am finding is was unexpected.
$2,000 buyin (bought originally at $4,000, someone's reselling). $100 monthly dues. $95/hour wet tach hours. (Granted it's a 172 not a 152, but again the equity buyin should negate whatever plane it is.)
$1,600 buyin. $60 monthly. $95/hour wet tach hours. (Again, granted it's a 172.)
$4,000 buyin. Fixed monthly expenses split 10 ways. (Amount not given.) $95/hr wet tach. It's a 1969 Cessna 182M.
Let me put it another way. If I started out with another pilot, and we were going to buy a $25,000 plane, it should work out for each of us to put down $12,500. Each of us would buy our own gas (top off tank after landing.) Each of us would contribute the estimated hourly cost toward maintenance, which appears to be about $21/hour. (Or if we trusted each other, when maintenance came up, we'd just pay half the bill, putting money aside on our own for it.) Assuming gas is $45/hour on it, ignoring the purchase price, we'd be paying $66/hour.
Why can't I find anything like this? Do the clubs only deal with planes much more expensive than $25,000?
Is it hopeless for me to hope to pay my own gas, pay about $21/hour for maintenance, and up-front pay my cost of the airplane? Or, do I need to keep looking?
With the lowest club pricing I've found, I'd still be better off just renting from the instructing company.
