Stay away from ventures like that, unless you really do have the money. I've tried to arrange at least 2 similar things in the last several years. The chances of you finding like minded people based at an airfield near yourself who are willing to stump up the cash is very very small. You need to get into a non-capital group share where the a/c is basically owned by one private owner who has set up a limited company and hires his/her plane out at very good rates. He can afford the good rates because he doesn't have the overheads associated with a fixed base club. I myself am a member of one paying a flat £40 a month and then £65/hr for a FADEC PA-28 (1988 model). There are a few groups like this popping up around the South East. Take a look on ukga.com and thehanger.co.uk.
However, I for one am sick and tired of constant drives to the airfield flying an hour at a time. Think of the time and petrol wasted when you do it like this! I also hate 20 year old rust buckets with barely a guage that works right so I plan on doing the remainder of my hour building (another 30) either in Europe (Spain, Greece) or the US where you can get a shiney new C172/DA-40 with glass cockpit for under £70/hr, and a 152 for around £30/hr. So much to do, so many places to go as a pilot why not make something out of it? Granted with this method I will be out of the 'flying loop' for up to 6 months at a time but 6 months isn't considered that bad.
One question I'd like to ask you and others is, how much do you consider is appropriate to put aside for maintaining that flying license each year? I've always said a minimum of £2,000 a year, with an IR/ME etc realistically £4,000. Anyone?
Last edited by Superpilot; 19th October 2006 at 15:34.