Originally Posted by
A and C
An interesting Group that is paying for the flying that it is NOT doing!
The £75/hour only just covers the fuel (about £62/hour) leaving £ 13/hour for the hourly costs, about £11 of that would go for the engine fund and so you are left with £2/hour to cover the other hourly costs.
The subscription fees from the bembers come to £9000 annualy, insurance I would guess at £3000, parking at about £2400, With a basic annual check at £1200 this leaves the group with £2400 for 50 hour checks and worn parts.
I don't think it will work in the long term!
Actually I'd say that's about right; many syndicates are run without large reserves and the acceptance that the syndicate may have to come up with a contribution of a few hundred each every few years when there's a bit of a shortfall.
The two "Group A" syndicates that I belong to run on similar financial situations.
Back to Bumitch's original question - I'd recommend that you start looking around at local syndicates, either on certified aeroplanes or on LAA aeroplanes. No hurry, and you can rent this overpriced PA28 from the nice school in the meantime - but they've made plenty of money out of you already, and you don't owe them anything but good manners.
I always enjoy window-shopping on
AFORS for aeroplanes and shares, even if I have too many already! Don't buy too big a share - anywhere between 1/8th and 1/16th is optimal since there will always be a large number of syndicate members who do little or no flying but still pay to subsidise everybody else's flying.
G