Bankstown Airport - Testing Syndicate Interest
 

Hi all,

I believe there are those out there who, like me, have been waiting for others to set something like this up. I don't want to wait anymore.

My main requirements are:
- To share the fixed and upfront costs in owning an aircraft
- Limit on max 4 members to ensure availability for all
- YSBK based -set up to be convenient for Sydney-based pilots
- Pricing structure strictly not for any profit. Designed in such a way as to incentivise lots of guilt-free use and fun
- Clear agreement set-out to avoid internal misunderstandings

My current thinking is a new or close-to-new aircraft such as the Sling 4 or Sling TSi. 130kts - 150kts TAS cruise at under 30LPH with latest avionics, autopilot, and with a ballistic chute for added safety.

Expected costs (AUD) for a 1/4 stake in a new Sling 4:
Initial share cost: $75k
Annual: $4k
Per hour: $110.00 (dry) or $170.00 (wet)
The above includes provision for all scheduled maintenance, overhauls (prop and engine funds), insurance, and parking

After the initial investment (which would be largely recoverable against future share sale), these costs are about as affordable as they come. There are other clubs or syndicates out there that charge slightly less ongoing costs but much higher hourly rates for old, inferior aircraft which are shared by many more than 3 others.

Please let me know your feedback and thoughts - positive or constructive. I'm not looking for partners just yet, but it would be great to gauge interest.

Aren’t they $350k new?

Yep, the Tsi is $350 but that upfront is for the Sling 4 (non-Tsi). I’m open to other aircraft too and wanted to use this one as an example

What type of ownership structure are you proposing: Unincorporated partnership, Pty Ltd Company, or Unit Trust?

Good question. I have some experience in dealing with partnerships over property and find unit trusts to be best in this situation. Wouldn’t touch unincorporated and Pty Ltds have too much ongoing costs and reporting requirements. I’ll mention I am an accountant.

No problem then! Hope it goes well for you.