EchoDelta
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- May 5, 2015
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I am starting this thread as a continuation of a discussion that broke out in the "Hello from Alabama" thread in the Introductions section.
Sanjiv made a comment to the effect that co-ownership can not only reduce acquisition and fixed expense costs but also allow a person to own and fly an airplane that they would otherwise be unable to afford. That is very true! In my case I could perhaps afford to own and fly a very simple and ancient airplane, something like a Cherokee 140. However, that sort of a plane would not meet my needs very well, and I'd still be flying it probably no more than about 75 hours per year. With 2 partners I can afford to fly our Arrow, and keep it in top shape with upgraded avionics. Plus, there are two others to help with stuff like oil changes and washing and waxing.
Sanjiv also pointed out that finding the right partners for co-ownership is "critical." I'm not sure I would use that term, but compatibility is indeed very important. But I have found that it's not all that difficult to find good partners, particularly if you live in or near a major metro area. I have co-owned three different airplanes over 40 years. Partners come and go. When one wants to sell his (or her) share the others get to screen applicants. Over the years I've had about a dozen different partners and only one didn't work out very well. I've been fortunate that my current co-owners have been together for many years now.
Arkvet suggested a co-ownership arrangement involving several people sharing two airplanes. I've never done that but I suspect that it could work out very well. In addition to the Arrow I'd love to have something like a Husky for getting into rugged back-country strips.
One key aspect of co-ownership is scheduling, which can now be done very easily and efficiently using on-line scheduling tools. Years ago scheduling was a real hassle, and a big drawback to co-ownership, but that's no longer the case.
Sanjiv made a comment to the effect that co-ownership can not only reduce acquisition and fixed expense costs but also allow a person to own and fly an airplane that they would otherwise be unable to afford. That is very true! In my case I could perhaps afford to own and fly a very simple and ancient airplane, something like a Cherokee 140. However, that sort of a plane would not meet my needs very well, and I'd still be flying it probably no more than about 75 hours per year. With 2 partners I can afford to fly our Arrow, and keep it in top shape with upgraded avionics. Plus, there are two others to help with stuff like oil changes and washing and waxing.
Sanjiv also pointed out that finding the right partners for co-ownership is "critical." I'm not sure I would use that term, but compatibility is indeed very important. But I have found that it's not all that difficult to find good partners, particularly if you live in or near a major metro area. I have co-owned three different airplanes over 40 years. Partners come and go. When one wants to sell his (or her) share the others get to screen applicants. Over the years I've had about a dozen different partners and only one didn't work out very well. I've been fortunate that my current co-owners have been together for many years now.
Arkvet suggested a co-ownership arrangement involving several people sharing two airplanes. I've never done that but I suspect that it could work out very well. In addition to the Arrow I'd love to have something like a Husky for getting into rugged back-country strips.
One key aspect of co-ownership is scheduling, which can now be done very easily and efficiently using on-line scheduling tools. Years ago scheduling was a real hassle, and a big drawback to co-ownership, but that's no longer the case.
