Jared Kornelsen
Pre-Flight
- Joined
- Aug 12, 2018
- Messages
- 98
- Display Name
Display name:
Jared
Jared, I will be one of the ones that MetalCloud is referring to. That is not my intent. The fact that you are trying to use good judgement, explore all sides and hopefully make a good decision is the reason that I am posting. I have owned two aircraft and retired a few years ago from my last corporate gig flying a twin turboprop. So these points I will make are based on the aforementioned experience.
1. It will cost more to acquire, maintain and operate than you think. I would suggest you take what you figure is an all in cost and increase by 50%. There is nothing cheap about an aircraft but, the pilot. $10,000 surprises are not at all rare on small simple aircraft.
2. You will not break even using your aircraft for business.The best to hope for is you might mitigate some of the expense of ownership with business use. Keep in mind the IRS is very suspicious of small aircraft owned by individuals for use in a business that is not owned by the aircraft owner. You will need meticulous records. Many here will chime in with "never happened to them". Check with your CPA and see what he says. BTDT
3a. You will cancel a lot of trips, many on short notice.
b.You will spend time at airports other than your destination.
c. You will be stuck at your destination perhaps, overnight.
These will be the result of both weather and mechanical issues. It WILL happen, more than you think. There is a saying, "Time to spare, go by air"
4.The few companies that allow individually owned private aircraft to be used for business, normally require large liability policies with the business as named insured. Might want to check on this. Might should confirm the company will even approve of this practice, most will not. Also check on your life insurance as the rates and coverage may be affected.
5. One or two posters made mention of the word safe. This will bring a howl from the low time pilots. The consensus on POA over the many discussions and outright arguments by those that may be more qualified is that is is in the same category as riding a motorcycle on the street. BTW, I have years on street bikes and both the wife and I have been mostly unscathed. As much as I love motorcycles I would never argue that street bikes are safe. I would not put either activity in the category of suicidal but, it is a factor. Small aircraft, low time private pilots and weather is not a particularly safe combination.
Having said all of this, I hope you can put together something that will work for you. General aviation needs more like you searching for ways to make GA work. It is a tough road with many potholes and road blocks. Best of luck! Oh, and keep us updated. There is a lot of good info on this site.
Thank you for your detailed reply and things to look out for.