Aeroplane Shared Ownership Advice

[LUCKY-1]

Everyone says that owning your own aeroplane is very expensive and not a good idea; but there are lots of folk that still own them. I am considering buying one but need advice mainly about shared or joint ownership. Does anyone have advice in this area that will be of use?:)

[bizzybody]

I have had dealings in this area before. Its not a bad thing but you need to make sure that you are really actually owning the aircraft and not just paying someone and claiming to own it. If there are heaps of people in the syndicate then dont bother, you may as well just go and hire something for a while.

I had only 3 in my syndicate and its always available.
Bizz

[dhavillandpilot]

In a word don't.

Would you share your wife/girlfriend?

I once owned an aircraft share - two partners good and paid the bills , the other never did and we were always chasing him.

[flog]

If it flies, floats or fornicates, rent it.

[Kickatinalong]

I think flog has it right :D:D:D
Kickatinalong

[djpil]

Yes, what flog said is what any good financial advisor will say but sometimes there are overwhelming reasons why you don't want to rent or maybe it isn't possible to rent what you want to fly. Isn't that right, flog?
In a small group you need to have reasonable like-minded individuals with similar objectives. There are some template group agreements around which you can tailor, verbal should work as well as anything. Most important thing is to have an agreed practical exit process. I like one where if you died your partner got the aeroplane.

[Jabawocky]

A Plane partner makes economic sense, and maybe a third, but never more!

If you need some help with Partnership agreements etc I can help you out.

Has worked very well for me, but you need to have a well selected partner. Other wise the FFF principal applies!

J:ok:

[Horatio Leafblower]

We formed a syndicate of 10 to buy a training aircraft for our small country aero club.

We were a bit particular about who we approached to be a part of the syndicate.

The aircraft flies at "cost plus a bit" for members and "cost plus $30" to non-members (including the flying school that operates it for us).

As a result, none of us has needed to reach into the pocket and all of us have had some economical flying.

As always, there are the occasional personality issues but if you can make work the rules djpil described, the size of the syndicate does not matter.

Just be prepared for some consolidation as time progresses. :ok:

[flog]

djpil - Yes, what flog said is what any good financial advisor will say but sometimes there are overwhelming reasons why you don't want to rent or maybe it isn't possible to rent what you want to fly. Isn't that right, flog?

I didn't say I followed the 3 F's, I took years and years to make the leap to ownership :}

I did look seriously at the partnership model, both for what I ended up with and for a number of light twins, and some faster singles. In the end the exit strategy was too important, at the end of the day if you NEED to sell it, there's almost always someone that is there to take the bargain. In a partnership the same principle doesn't apply as it has to be sold at market rates.

I'd love to see some more Cirrus partnerships down here in Melbourne.

Too true re hiring djpil - it's not easy to hire a Yak :ok: