Buying an airplane is a big leap of faith. Who knows what unforeseen costs can come up. We can always calculate the fixed costs but it’s the surprises like a new vacuum pump or alternator that may take you back.
What about splitting it with someone? One of my first articles on m0a.com was titled “What’s the deal with flying clubs” If you look at it you’ll realize m0a has come along way since 2007.
But that’s a question my students ask quite frequently, “What’s the deal with flying clubs?” The truth of the matter is it all depends on the people.
The Concept
The concept behind flying clubs is a smart one. If organized properly you can operate an aircraft for pennies on the dollar. The idea is everyone is splitting the cost. Similar if we both went out to dinner and split a meal. We both get full from our meal and pay our equal share. This concept is great for those aforementioned “surprises” that tend to pop up in any asset ownership.
The People
Our concept is good in theory however it all comes down to the people you end up sharing with. In this instance our old Proverb is true “One bad apple can spoil a bunch.” Not cleaning the plane after a flight, leaving the plane with less than full tanks, and failure to stick to the schedule are just a few common gripes I hear among members of a club at our airport.
This however can be fixed with signed contracts and letters of understanding. Just remember the rules are there for a reason.
I encourage you to look into a club as I viable option for aircraft ownership. Can’t find one? Have you ever considered starting your own? It takes just a few like-minded individuals to get the job done and start saving money as aircraft owners!
