Vancouv Thanks for your input. I have been able to sort out those issues with my FI.
IO540 I had in fact been thinking on the lines of outright "ownership". Second-hand planes seem relatively inexpensive. But having a look at the maintenance charges (just the "legal" ones) did give me a slight "turn" - to which must be added unexpected expenditure which seems to call for blank cheques galore. Hmmm.
The other option, forming my own group, might be more realistic. I am mates with a couple of my fellow students so that is another avenue to be explored. But as bookworm so rightly says in the end it's attitude which is paramount.