"Sunho" wrote in message
...
On Mar 27, 9:18 am, wrote:
Keep flying in spite of the economy !

This is a notice to determine if there is interests in a no-frills,
super-frugal club, based on 1/10 ownership of a classic 1950's VFR
Cessna 172 in the northern Los Angeles metro area. We are considering
forming a club around this aircraft, and we want to see what the level
of interest is.

The big idea is to make it LESS expensive than other clubs or
expensive airplane fractional ownership schemes. We are shooting for a
$3995 buy-in which includes club membership entry fee AND a 1/10
ownership in the aircraft. There would be a low monthly fee, maybe
$50, that would cover normal annuals, tiedown, and insurance. There
would hopefully be a zero or very very low ($5) hourly charge. Non-
routine maintenance, overhaul, upgrades, etc. would be voted on and
assessed only if/when needed. The older 172's with manual flaps and
simple basic electronics are pretty low maintenance.

The club would be limited to ten members. Students would be WELCOME,
the insurance will be set up to allow student pilots to use the
airplane for lessons! You can save a FORTUNE on training costs this
way!

Compared to renting a more modern 172 at the local FBO, our basic
calculations indicate that for a three year period, flying 100 hours a
year (300 total), you could cut your flying costs in HALF, even if you
keep your membership. If you sell your membership after three years,
your cost of putting those 300 hours in your logbooks is ONE THIRD of
what you would h ave paid as a renter. That includes an engine
overhaul or replacement somewhere n that three years.

The only "downside" is that this is a basic VFR fun / $100 hamburger /
keep current airplane. No G-1000 big-screen TV, no autopilot, no
instrument work. This will be for people to fly inexpensively, not
watch $100K worth of gadgets and blinking lights. Your $300 used
handheld GPS will get you to the hamburger just as precisely as the
big gadgets will. You want gadgets... go spend half a million on aCirrus!

Local pilots please contact me at victorbravo at sbcglobal {dot}}
net and let me know if this would interest you or if/why it would
not.

Let me crush your dreams:

First of all good luck finding 10 consistent reliable trustworthy easy-going
people to buy in to a plane.

How many hours are left on the engine before major OH and how much will it
cost to do that? That's what will determine your hourly engine OH
amortization/reserve. If the engine is at half time (1000 hours) and a
major OH cost about 20,000.00 for engine removal, OH, reinstallation and
shipping, you're looking at 20 bucks an hour for the engine OH.

Fuel is averaging about 3.90 per gallon and I would figure on a fuel burn of
9 GPH. That will cost 35.10 per hour in fuel.

Five dollars will NOT cut it for unforeseen maintenance. You will need to
be closer to 15.

Add 3 dollars per hour for oil change and a dollar per hour for oil
consumption.

Let's see...hmmm...that's 20 + 35.10 + 15 + 3 + 1 = $74.00 per hour wet
variable costs.

Now let's look at the fixed costs:

Now an annual will cost you about 900.00 JUST FOR THE INSPECTION. This will
not include any maintenance required.
There's storage (hangar: 400.00 per month, Tiedown 75.00 per month)
Insurance: 1,200.00 per year (100.00 per month)
Loan payment: 40,000 plane at 7% interest over 10 years = $464.43 per month

Let's see...hmmm...75.00 annual + 75.00 tiedown + 100.00 insurance + 464.43
loan payment = 714.43 per month even if you don't fly a single hour.

Now we didn't even talk about it's eventual and inevitable exterior paint
job. That's 8 to 10 grand and if it is kept outside that will have to be
done in the next 5 or 6 years. That's 112.00 per month paint reserve if
you're so inclined.

The following costs do NOT include the principle part of the loan...only
interest for the first year:

If you own the plane by yourself and fly 100 hours per year it will cost you
1,067.58 per month wet.
With two people flying 100 hours per year it will cost you about 829.69 per
month wet. (nice savings!)
With three people flying 100 hours per year it will cost you about 750.40
per month wet. (not bad savings)
With four people flying 100 hours per year it will cost you about 710.75 per
month wet. (very little savings)
With five people flying 100 hours per year it will cost you about 686.96 per
month wet. (almost not worth it savings)
With six people flying 100 hours per year it will cost you about 671.10 per
month wet. (not worth it at all)

See what's going on here? After the third partner, the cost savings verses
the use of the plane and inconvenience of having him just aint worth the
savings to take him on.

Kobra