Aircraft shares (What do you think)
Hi,
I'm toying with the idea of buying a share in a single piston aircraft... like 1/5th or something like that.
I like the idea of sharing a nice aircraft between a few members and not paying flying schools to use their aircraft on strict time schedules.
Does anyone on here have a share in an aircraft and if so are there any risks involved or advice to be given?
Some of the groups I've approached are asking for £70pm and then £75ph wet which I think is good if you can fit in a flight a week. (Based on C152'S and PA-28's)
A more few questions...
I'm aware that I'll have to pay £5000 - £7000 to join a group like this but if I choose to leave do I get the money back?
Also
If anything goes wrong with the aircraft are we meant to get together and pay for it on top of the fees we pay already?
or is it all covered by the monthly charges everyone puts in?
Thanks in advance,
SCA