Group aircraft ownership program

The aircraft is shared only among a small group so members enjoy greater flexibility of use. A fixed lease payment is easy to budget and might be easy to justify as a business expense depending on use and circumstances. Members can be non-pilots that purchase block time and obtain a qualified pilot to provide pilot services for their use. Nothing else on the market compares to advantages or economics of this unique program.

Member slots are limited and only offered until the slots are filled for each new aircraft delivered. Existing members are given preferential renewal options. All details for each owner will be provided in writing on their purchase contract for their acceptance prior to signing and may vary from what is presented above. Show Me the Planes! DiamondShare has broad appeal all over the country.

Below is a map that shows the locations of recent interest in the DiamondShare Program. Copyright — Most pilots dream of obtaining a private pilots certificate and acquiring their own aircraft so they can enjoy the freedom of flight and opportunity to go places in an airplane, their airplane.

They dream of a different lifestyle and a means to be beyond the usual bounds. Most certainly owning your own airplane can represent a life changing potential. If the owner decides not to contract a CAMO or CAO, the owner is fully responsible for the proper accomplishment of the corresponding continuing airworthiness management tasks.

Therefore, it is expected that the owner properly and realistically self-assesses their own competence to accomplish those tasks or otherwise seeks the necessary expertise.

As a best practice, owners should consider contracting a CAMO or CAO for tasks associated with continuing airworthiness management, particularly in cases where more than one aircraft is included in the ownership scheme. Where an aircraft is owned by multiple owners who each own an equity stake in the aircraft, they are jointly responsible for the continuing airworthiness of the aircraft.

Please refer to the group ownership of aircraft page in cases where there are three or more individual owners. Accept analytics cookies Reject analytics cookies.

You can see that anything is possible, cost-wise. Another enormous benefit is the ability to fly an airplane that would normally be out of reach or unavailable. For Jessica Meredith, it means flying a challenging tailwheel aircraft with plenty of capability to urge her along in her piloting experience, for a fraction of the cost of renting.

The Bad There are few, if any, negatives in co-ownerships. Nightmare scenarios are rare. One of the keys is choosing the right people. Like a marriage, owning an aircraft will be a relationship that must withstand good and bad. Interview prospective members and be candid about your requirements and personalities. The biggest barrier to co-ownership for many pilots is availability.

Experience also shows that availability is simply not an issue. The airplane flies an average of 80 hours per year. In my ownership situation, the airplane had flown only 32 hours the entire year before I joined.

That equates to 1. Getting Started AOPA has revamped their partnership site, creating what could arguably be called the best co-ownership resource available. You can list yourself as looking for a co-ownership situation, or as an owner looking for partners. But those of us who love to fly will find a way to do it. And if cost is a concern as it is to most of us , then look no further than co-ownership. Co-Ownership Considerations Type Of Legal Entity: The type of entity you join—or create—will impact your liability exposure, taxes and fiduciary responsibility.

The limited liability company LLC has gained much popularity with aircraft-owner groups. Such an effort will cost more money and be slightly more complex to set up than a simple partnership, but the liability protection is well worth the added costs. Selecting Owners: The compatibility of the owners is paramount. Such elements as piloting experience, mission profile and overall financial standing are important to discuss openly.

What type of advanced notice is required? What if the aircraft loses some of its value? Management And Administration: The partnership must stipulate whether members will manage the finances, maintenance, book-keeping and membership duties for the group, or whether these tasks will be hired out. The group must decide who will be authorized to handle the financial side of the co-ownership, who can write checks and who will authorize expenses. Insurance pricing can vary wildly, so various sources should be looked at.