Loc: CA, USA - BC Canada
I'd like some feedback on an idea - those of us who have aircraft and don't mind sharing them, to make them available to especially new pilots building time. Instead of regular rentals that cost upward of $100/hr, we can offset some of the cost, and get say $50 an hour. They save, we get some offset, and people get to fly! What do you think? Thanks, Roger
Loc: Groveland, California
It would all boil down to insurance, I believe. My policy has a clause stating it can't be used as a rental; I'd have to reconcile that first, and would need to make sure all pilots who fly it are fully covered by their insurance or mine.
As an owner, I'd be more inclined to sub-lease my plane to a single pilot rather than opening it up to more people, but even then, I wouldn't really be receptive to the idea. If I ever lose my medical and can't fly, I'd put my plane in a leaseback arrangement (my flight school is dying to get more planes like mine on the flight line) or would even just sell it.
Loc: Fairfax, Virginia
This is basically the old "rentback" methodology that was widely practiced not too long ago but has fallen off now. The only difference is that you would be renting out the plane to other people directly instead of through an FBO.
CF is right, this would come down to insurance for those who are willing to do it. The insurance companies would basically treat your plane as a rental and your insurance cost would go up (way up). You would also have to get a commercial vs. a personal plane registration here in Virginia which is more expensive as well. As an aircraft for hire you would also have to do 100hr inspections vs. annual inspections and that would raise expenses as well.
It could be a good idea for the right person but not for me.
Yeah, actually, I'd have to charge $200/hr just to pay the insurance increase. My policy specifically prohibits commercial activity of any type, and would increase 300% or more were I to lease the plane, not to mention the 100 hr inspections.