WIX Archives
Why ownership?
Posted by Paul on Fri Feb 22, 2002 04:36:35 AM
In reply top Airframes and cost (ballpark) posted by Jim H on Thu Feb 21, 2002 09:48:36 AM
I have been following the thread with great interest and would like to put forward some constructive comments. First of all I wonder why a group of warbird enthusiasts want to OWN and aircraft with all the resultant legal wrangles, problems, administrative overheads (anyone that has run a limited company with limited manpower will tell you such an instituion can drink money and become a millstone), lawyers and accountants fees etc. Plus you will automatically be obligating company officers. Go into it with your eyes wired open!
I wonder if you would be better trying to just form a group and LEASE an aircraft to have flights etc. That means the operator would make it available when you require it. Also I agree with the sentiment that a transport type would be better - you can give more people the chance to fly in 'one hit' and have more FUN with the burden of ownership, take the group to events etc etc. I think you would do well to look at the so called 'pleasures of ownership'. I don't think there are really that many!
If you do go down the route of ownership don't fall into the trap of buying a basket case. Initially enthusiasm will be high - then it will die to a hard core of determined individuals if you are lucky. It will also drink money.
If you did go for ownership do consider insurance, and more importantly what COULD happen to rates in the future. I believe the C-46 concept is perhaps a good one, but an existing flyer WOULD be much better. I don't think, based on my past experience, that you will create enough capital with your current share structure and cost per share.
Most of all GOOD LUCK!
regards
Paul