Many different ways of doing this (a search of the forums will bring up a few). The most common way is that each member pays for his share (basically if the aircraft is worth £30,000 then a 1/10th share will be £3,000), Each member then pays a monthly fee which covers standing costs (insurance/hangarage/engine fund etc) and then an hourly price on top of that to cover fuel/maintainance.
On our PFA 2 seater for example a 1/5th share is £3,000, monthly fees are £85/month and we pay £6/hr +fuel, you also need to add in landing fees. This means if I do 5 hours flying a month my flying costs me £56/hour if I include ALL costs such as interest on the share price and AVGAS price for fuel, If I put MOGAS in instead and do not worry about the interest then this comes down to £40/hour, at these prices it is surprising how few (certainly at Goodwood) are interested in joining! In theory, our group has a priority system for bookings, each member has a rotating week that it is "their" aircraft and other members go through that member before booking, in practice availability is so good that we have never needed to use this and it works on a first come first served basis, though if someone wants to take it for a few days then they will ask the rest of the group first.
Wet/Dry lease simply means with/without fuel so for a dry lease you take the aircraft with a set amount of fuel and return it in the same state, paying for the fuel you use while you have it.
Last edited by foxmoth; 2nd Oct 2007 at 10:19.