Here's a model that can work - I know it can work, because I'm in the middle of such a scheme.
Syndicate an aeroplane (with a suitable CofA permitting instruction) but bedded within a friendly flying club.
Rules work along these lines (for us):
- All joint owners have to be members of the club, meeting club rules
- Instruction on the aeroplane is under supervision of the club/CFI
- When the owners aren't flying the aeroplane, it's leased to the club for the club's use at their rates
- When the owners want instruction, they just pay syndicate flying rates, then the club's "instruction in own aircraft" rates - which saves them about £40/hr.
- By "gentleman's agreement" instructors with shares in the aeroplane get first dibs on instruction in it, and certainly have the ability to bring our own students into the club on our aeroplane.
The particular club I belong to has three aeroplanes (two four seaters and a two seater) run in this manner. The one I have a share in has two instructors amongst the owners - myself (a CRI, so I tend to do conversion/refresher training) and a much more experienced instructor (an FI/IRI so he tends to do PPLs and IMCs).
It works really well, saves a lot of money for the owners, gives quite a nice route for inexperienced instructors like me to get into the system, and provides good oversight by an experienced club CFI.
G