A share in Mann
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Join Date: Jan 2004
Location: Isle of Man
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A share in Mann
Hmm
After two lessons, my local flying club has advertised shares in the club aircraft.
Reason given "reducing operating costs for the co-owners"
Any ideas what this might mean?
Also what would be the value of a 1967 Cessna 172......
Cheers
After two lessons, my local flying club has advertised shares in the club aircraft.
Reason given "reducing operating costs for the co-owners"
Any ideas what this might mean?
Also what would be the value of a 1967 Cessna 172......
Cheers
Join Date: Jul 2001
Location: South Yorkshire
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"Reducing the operating costs for the co-owners".
1. Could mean that more than one person owns the aircraft.
2. One or more of the owners is looking for someone else to share the running costs that are not being covered by the hire rates/charges for lessons.
The correct value will depend on:
1) Airframe Hours and Age
2) Condition
3) Equipment fit
4) Engine Hours remaining
5) The state of the market
This is too many variables to get a reliable answer without posting further information.
"After two lessons" - Interesting! If the Advertisement consists of verbal statements along the lines of "It's a steal; too good to miss; you're a natural; you'll need a four seater once you qualify" I'd run a mile. If it has just appeared as notice on a notice board, and been the subject of idle chit-chat, they are probably just trying to sell a share. Treat as a commerical venture if the aircraft is a 'working' aircraft. Either way have a licensed engineer examine the aircraft before parting with any money, and use an engineer with no relationship to the club.
1. Could mean that more than one person owns the aircraft.
2. One or more of the owners is looking for someone else to share the running costs that are not being covered by the hire rates/charges for lessons.
The correct value will depend on:
1) Airframe Hours and Age
2) Condition
3) Equipment fit
4) Engine Hours remaining
5) The state of the market
This is too many variables to get a reliable answer without posting further information.
"After two lessons" - Interesting! If the Advertisement consists of verbal statements along the lines of "It's a steal; too good to miss; you're a natural; you'll need a four seater once you qualify" I'd run a mile. If it has just appeared as notice on a notice board, and been the subject of idle chit-chat, they are probably just trying to sell a share. Treat as a commerical venture if the aircraft is a 'working' aircraft. Either way have a licensed engineer examine the aircraft before parting with any money, and use an engineer with no relationship to the club.
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I know the situation to which you refer at MF. The advertisement as you say talks of selling shares in a Cessna, a Partenavia and a Jet Ranger helicopter. My understanding is the club intends to keep one aircraft for training.
On the subject of buying shares there are all kinds of questions in this instance.
1. Will the clup retain shares?
2. Is the club looking to create groups which will buy the aircraft?
3. Who will carry out mainteance.
4. Where will they be hangered
etc. etc
At the end of the day I'm not sure the interest exists on the Island for a share scheme.
From your point of view as a student, I would just carry on training.
If your real question is what is the future of the club if it only keeps one aircraft, then that's another topic, but don't be afraid to talk to the owner and ask the hard questions. MF has had its ups and downs, but always seems to keep going.
On the subject of buying shares there are all kinds of questions in this instance.
1. Will the clup retain shares?
2. Is the club looking to create groups which will buy the aircraft?
3. Who will carry out mainteance.
4. Where will they be hangered
etc. etc
At the end of the day I'm not sure the interest exists on the Island for a share scheme.
From your point of view as a student, I would just carry on training.
If your real question is what is the future of the club if it only keeps one aircraft, then that's another topic, but don't be afraid to talk to the owner and ask the hard questions. MF has had its ups and downs, but always seems to keep going.
Flies for fun
Join Date: Feb 2000
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After two lessons, I think that it is a bit premature to even think about buying into a group. Chances are that you will be able to buy into the group later if you wish and at that time see how the new group is running. It may all be a disaster as so many groups are - but then it may be fine as so many other groups are! The problems arise for instance when a new engine or other significant expenditure comes up and there is not enough cash in the kitty to cover the costs and one or more of the group is skint!
Get your PPL first then go for a share in an airplane if that's what you still want. A 1967 Cessna 172 isn't on my 'must buy' list I have to admit!
Get your PPL first then go for a share in an airplane if that's what you still want. A 1967 Cessna 172 isn't on my 'must buy' list I have to admit!
