small partnership questions

A partnership is as good as the partners. Keep an engine reserve. Keep
a seperate aircraft checkbook and credit card. Make sure your partners
have more money than you do :-).

TTA Cherokee Driver wrote in message ...
As part of due dilligence in deciding whether or not to buy a plane and
if so how, I would like some feedback from people in small partnerships
(2-3 partners).

How do you usually handle scheduling? Do you divide up the calendar
("every other week is mine") and if so how flexible is it? Or do you
just do it ad hoc? How do you resolve conflicts, like you both want to
take a trip on July 4th?

How do you finance and own it? Do you form a corporation, or just get a
joint loan with joint ownership?

How important are compatible flying times? I.e., if one partner flies
2-3 times the hours of the other, does that cause problems, particularly
for scheduling and availability for the partners?

any feedback or info on this topic would be appreciated.

We have a 3-way partnership and each person is the "Primary" pilot from 6pm on
Wednesday to the next Wed. at 6pm. Every 3rd week you are the primary. When
you aren't the primary and want to fly you are to contact the primary and get
their approval. Each person is responsible for topping the tanks after flying
and for their own oil. Other than that all costs are divided 1/3, not by
the number of hours flown. That gives someone the incentive to fly if they
are going to pay 1/3 anyway.

We haven't had too many disagreements and the ones we have had work themselves
out. We each pay $120/month for fixed costs (hanger rent, Insurance,
and taxes). If anything is left when these are paid we apply towards the
annual. If any expenses come up and there aren't suffucient funds, we
just all put in our 1/3 of what is needed.

It does seem as the new partner I've done all the washing/waxing/tire
inflating, etc. the past 1 1/2 years but then I flew her 86 hours last year to
their combined less than 10. )



Trip Farmer
PA28 235
N8501N


In article , says...


We've got 3 people in our Cherokee 180 for almost a year. We use the week
rotating schedule. If it's my week, I don't have to call anyone to fly. If
partner 2 wants to fly during my week, he calls me. If I have no plans I
give him that time. If partner 3 wants it, he calls me & I tell him partner
2 has it. Too bad. Next week, it rotates. So far, very few scheduling
conflicts, and most of those we were able to work around so the involved
parties still got to fly.

2 of us are in a local flying club, so we have some alternatives if the
Cherokee is tied up. It's a nice cheap backup.

We use the weekly rotating schedule for the 4 partners in the Mooney. My only
complaint with that system is that sometimes I want to go flying on short notice

but I can't contact the partner who 'owns' the schedule at that moment. I've
heard about arrangements like: "if you can't contact the schedule owner, you are

allowed to commandeer the aircraft for a period not to exceed x hours", but I
have no experience with such an arrangement.

I also have a flying club membership and agree that makes a good backup.

The OP asked about the importance of dissimilar use of the aircraft. IME this is

a problem if you have dissimilar views on how the aircraft should be maintained.

For example, partner A flies twice a week and wants any squawks fixed pronto to
maintain the availability of the airplane. Partner B flies only occasionally and

wants to defer maintenance until the plane can be ferried to a mechanic who has
a lower hourly labor rate.

We had 2 partners for a while in our Arrow. We drew up a partnership
agreement that was pretty detailed and included a first right of
refusal, together with how the airplane would be priced at buyout. I
had first rights for Saturdays, he had Sundays, but either could have
as long as needed with prior notice - seldom had a conflict. Damage
from carelessness to be paid by the responsible party.

We both kicked in the same amount every month to a partnership
checking account and paid all bills out of that.

The ideal partner is a guy with a lot of money and no time to fly.

Dave Butler wrote:

The OP asked about the importance of dissimilar use of the aircraft. IME
this is a problem if you have dissimilar views on how the aircraft
should be maintained.

I bought a PA-28 years ago from a partnership that couldn't agree on
avionics upgrades, so sold the plane.