Don't Buy an Aircraft Share Until You WATCH THIS!

[@Robinbamv]

A few comments from thirty years of aircraft ownership that started with a share. Hangarage is cost neutral what you pay in hangarage will be more that offset by the extra cost of maintenance if you keep the aircraft outside ( even with a cover ) . If the aircraft has one 8.33 radio and a mode S transponder shoehorned into a panel of aging and mostly inoperative avionics this is group cheapskate warning number one. Take a look at the log books and check the maintenance records, most of this will be far above the average PPL to fully interpret but has the aircraft been maintained by the same maintenance company for the last few years ? If the last three annual checks have been done by different companies than this is cheapskate warning number two. Clearly this is the group tying to penny pinch on maintenance and the lack of a long term relationship with a maintenance company will put you at the back of the queue when things go wrong unexpectedly. I could go on but these things would have the money staying in my bank account and moving on to another group.

[@WhiskeyAlphaPilot]

@@Robinbamv excellent points!!

[@skyleaderuk]

Nice one. Lots of good information and well laid out video. Also checkout the option of setting up a new group based around a brand new aircraft. There are some really capable permit aircraft available to build or purchase new.

[@1dullgeek]

As someone who owns a share of an airplane this is fantastic advice. The only thing I would add is interview all the other members and get an idea of how the group works together. And ask for referrals from prior members and talk to them.

[@WhiskeyAlphaPilot]

@@1dullgeek Thanks!!. Strangely enough I didn’t meet one of the share owners for a year after I joined, although I did see the WhatsApp conversations :-)

[@1dullgeek]

For us we have only 3 partners. And we have a rule that we have to be unanimous if we're going to spend each other's money. So in our case getting to know all the partners was a big deal

[@Dexter_Reform]

When buying a share, a good group will be giving you the hardest interview of your life!

[@craigcmiller]

I’ve been in a few groups over the last 15 years and would never want to go back to renting. I suggest considering an LAA permit type over a CofA aircraft if you can find one though. You’ll have lower costs and be able to fly something with significantly higher performance if you want to. For example the RV-8 I fly will cruise at 150kts indicated and is aerobatic all while costing a good bit less per hour than a C152!

[@WhiskeyAlphaPilot]

@@craigcmiller thanks for you comments!! , I’ve never been involved with a non CofA aircraft so it would be hard to comment in that direction, but I will never say never :-)

[@KarlGosling]

I totally agree! These days the permit aircraft available (both LAA and BMAA) not only out perform most of your "typical" certified aircraft that a freshly qualified PPLA would be looking at but are a fraction of the cost to own and run, so unless you need more than four seats or full IFR it makes zero sense to go that route, you're literally throwing away money.

[@green4green]

Thanks for the insight.

[@WhiskeyAlphaPilot]

You are welcome :-)

[@ian757]

Great video. Thanks so much. 👍

[@WhiskeyAlphaPilot]

Glad you liked it!

[@ian757]

Things you’ve missed out include whether the hourly rate is wet or dry and how the fueling agreement works and how it’s paid. Also, whether that wet rate is Hobbs or Tacho and how that affects the price. Maybe also to consider that monthly fee of, for example, £160 which makes your £100ph rate actually £140ph if you only fly 4 hours per month. Also, consider how many hours per year you will actually fly. You may think you’re going to fly 100 hours but really? Also also, what extra equipment does it have? Extra headsets? A raft and life vests? Oxygen? And I guess finally, we would all like the fastest sleekest aircraft but get the aircraft that fits your mission and be realistic about what your mission actually is.

[@WhiskeyAlphaPilot]

Great points I’m adding them to my list… I might have to create a second version. Mission to a certain extent I did mention, I do know someone who bought an Extra 300 share then told the wife that le touquet was going to be be an interesting flight.

[@craigcmiller]

Tacho time is the fairer way of charging in my opinion. It’s not perfect but gives a closer approximation of fuel burn and engine use than either Hobbs or airborne time. Fuel consumption would also work if you have a way of recording it.

[@ian757]

A friend of mine who has an amazing share said what the perfect group is so far as he’s concerned and which is what, in fact, he has. A group of 6 (no lore than 8) with at least half the group only wanting to fly the odd hour in the local area. That way, he says it’s basically available all the time and he’s shown me the booking system that shows almost all days fully green. 😎

[@WhiskeyAlphaPilot]

Yup we have 5 and have plenty of availability especially as I like to fly during the week.

[@AerospaceNick]

I’m looking for a share some sage advice I was given was to find a group with an odd number of members therefore it always remains democratic when voting on upgrades etc

[@WhiskeyAlphaPilot]

@@AerospaceNick interesting thought!! We have an odd number which has worked out well on things like upgrades. We did wait till everyone was happy rather than force the issue. Our agreement says it’s a majority but we would prefer everyone to be happy.

[@therustypilot3452]

Be ready to pay more for a part of a plan than buying the whole plane. Think of it as buying pizza by the slice vs buying a whole pizza. You are buying into a plane, a hangar lease, a group of owners, their network of resources, their maintenance shops, others owners of those planes in their network. Your mission and their mission should align. If it time builders you need to be time building. If it’s low and slow sight seeing, if it a family vacation plane being away a week at the time crew, if it’s a bunch of old men flying together…. Most people don’t know their real mission to side track this as you will fly the plane by yourself most of the time. So that 6 seater family hauler still burns 15 gallons an hour hauling you. Choosing the Right Plane to Buy (The Definitive Guide) kzbin.info/www/bejne/lWfOhmOKesujrbc