Air Shares Elite and Cirrus Sr22

Is anyone familiar with Airshares Elite? They sell 1/8 shares of a Cirrus
SR22. You basically buy 1/8 of the plane and pay for fuel, and then pay a
management fee of $750/month to cover insurance, hanger, all maintenance
(including engine/prop overhaul), cleaning and washing the plane, and of
course their profit. It sounds like they really treat you well but I'm
wondering if anyone has some real-life experience with them. Thanks.
Howard Neff

In article ,
Teranews \(Daily\) wrote:
Is anyone familiar with Airshares Elite? They sell 1/8 shares of a Cirrus
SR22.

They really bury the pricing, but I found the PDF for Boston:

You pay for 1/8th of their marked up price of $520,000 (the base price
of a new SR22-G2 is $335,000). That entitles you to pay the $710/mo fee
and 75hrs/year @ $75/hr. If you fly all 75 hours that works out to be
$188/hr.

After four years, assume you elect to sell it. There's no comparable used
SR22 (in theory the airshares plane might have 2000 hours on it and a run-
out engine). Let's say it sells for $250,000 and you get 1/8th of that
back. Then your net hourly cost (assuming you flew all the possible hours)
is $300/hr. I can't even tell if that's wet or dry.

The closest comparison I could find was Skyventures, in New York, which
rents SR20's for $210/hr + tax. Air Orlando has a SR-22 G2 for $219/hr,
or $197/hr in 30 hour blocks.

--
Ben Jackson

http://www.ben.com/

Aspen (APA) rents SR22 for $150 hr wet.

Sounds like if you don't mind taking it up the pooper then Airshares
Elite would be a great deal. It sounds like at least they give you a
kiss while they are f***ing you. :-)

Jon Kraus
PP-ASEL-IA
Student airplane purchaser

Ben Jackson wrote:
In article ,
Teranews \(Daily\) wrote:

Is anyone familiar with Airshares Elite? They sell 1/8 shares of a Cirrus
SR22.


They really bury the pricing, but I found the PDF for Boston:

You pay for 1/8th of their marked up price of $520,000 (the base price
of a new SR22-G2 is $335,000). That entitles you to pay the $710/mo fee
and 75hrs/year @ $75/hr. If you fly all 75 hours that works out to be
$188/hr.

After four years, assume you elect to sell it. There's no comparable used
SR22 (in theory the airshares plane might have 2000 hours on it and a run-
out engine). Let's say it sells for $250,000 and you get 1/8th of that
back. Then your net hourly cost (assuming you flew all the possible hours)
is $300/hr. I can't even tell if that's wet or dry.

The closest comparison I could find was Skyventures, in New York, which
rents SR20's for $210/hr + tax. Air Orlando has a SR-22 G2 for $219/hr,
or $197/hr in 30 hour blocks.

(Ben Jackson) wrote in message news:Gfs_c.104107$9d6.47795@attbi_s54...

In article ,
Teranews \(Daily\) wrote:

You pay for 1/8th of their marked up price of $520,000 (the base price
of a new SR22-G2 is $335,000). That entitles you to pay the $710/mo fee
and 75hrs/year @ $75/hr. If you fly all 75 hours that works out to be
$188/hr...

I've said here before, the point of Airshares Elite is not economy but
luxury. It's all about giving wicked rich guys a turn-key experience
of owning a high-performance airplane with pretty fixed costs.

My neighborhood in Boston is exploding with 500K+ luxury loft condos
(many over a million) which are being bought up as fast as they can be
built by 7 series-driving 30-50yo DINCs. Who are these people and
where do they come from? I don't know but I'm surrounded by them.
Definitely a market for what AirShares offers.

There's no silver bullet: so long as airplanes cost a lot of money to
buy and maintain, they're going to cost a lot to own. The newer and
faster, the more expensive. IANAME (I am Not A Manufacturing Engineer)
but I did stay in a Holiday Inn Express once, and it seems to me we'd
need to make an order-of-magnitude jump in production volume for
economies of scale to really start kicking in.

The best hope for "economy" flying is Sport Pilot, not because it
might save 10-20 hours to get the license, but because it will reduce
certification and maintenance costs tremendously. But for those of us
(like me) who want to fly real cross-country traveling machines and
aren't loaded, we're going to be living with circa-70s planes for
another decade or so. Assuming the polo-and-yacht set keep Cirrus
cranking planes out, we will someday have a large number of
glass-panel TKS-equipped 170kt "old" planes on the market just as we
now do with Mooneys, Bonanzas, etc.

Best,
-cwk.