Bose X
350hrs x 4 years = 1400hrs (quite high utilisation yes?)
Fuel-23ltrs x 1400= 32200ltr @ £1.30/ltr = £41860-
Hangar 4 x 800 = = = = = = = = = = = £03200-(which is very reasonable, £150-200/month more like, so a difference of at least £4000)
Insurance 4 x 1000 = = = = = = = == £04000-
Maintenance 4 x 5000 = = = = = = = £20000-(assuming no engine replacement!)
Total expenditure over 4 years £69060-
So 1400hrs at a cost of £69060- is £49.33/hr
What you forgot to include is the cost of the capital tied up in the aircraft and the re-sale value of a plane with 1400 hrs on the engine even if it were new would be a considerable chunk lower. So now we factor in £8000 loss of interest/cost of finance on the capital (10% is fairley easily attainable in a low risk portfolio, certainly no more risky than a light aircraft!!) And a loss of say £6000 in the value of the aircraft due to the 1400 hrs you put on it.
Now the figure is adjusted to include £14000 divided by the 1400 hrs you flew(nice easy one that no calculator required) An extra £10/hr.
So now we are up to £ 59.33/hr, and if you had any unexpected problems, corrosion, prop strike etc, then that figure could be potentially higher. So my figures quoted off the cuff were deffinitely in the ball park wouldnt you agree?
Further more, i would say that £70/hr at our local club is very good value? With no risk or capital outlay.