What’s better than owning an airplane? Long-term leasing an airplane.
I recently entered into a partnership on Piper Cherokee 140. The owner has lost interest in flying and has a new family, which is where his financial interests now lie. Since I (and a partner) would like access to an airplane, we are making the payments and paying the insurance on the airplane in exchange for having full access.
So far, so good. I flew the plane to Greenville to visit my parents for the weekend last week and the plane flew wonderfully. This past weekend I flew with Shon, my partner in this venture, to Sumter for the Breakfast Club Fly In. Shon will soon be having his Biannual Flight Review and will fly more regularly. I hope we can find an easy schedule to split the time without too many conflicts.
One of the things that is nice about renting planes is that someone else has to take care of maintenance issues. There’s already a crackle in the radio that needs to be repaired, and since we are taking responsibility of the airplane it is up to us to have these issues taken care of. We will need to find a way (and time) to get it over to Charleston Executive Airport for repairs soon.
This is still better than owning and it’s WAY better than renting.