Fuel usage is paid directly by each pilot.
In fact, any excess reserves are refunded back to the aircraft members. The aircraft hourly rates are comprised of the engine and maintenance reserve fees - pilots pay the actual cost of operating the aircraft - there are no extra markups or reserves. How can SharePlus have such low hourly rates?
Share upgrades are done on a shares available basis.
Shareplus ois upgrade#
However, if you would like to upgrade your primary aircraft share, which would provide you with scheduling priority weeks in the upgrade aircraft, then we will assist you in doing so. You have access to fly all of the other aircraft in the SharePlus fleet, so you may find that upgrading to a higher performance aircraft is not necessary. The SharePlus Program has a lot of flexibility. You should check with your accountant to make sure you qualify. Generally, when the aircraft is used for legitimate business use, the expenses are tax deductible. There is no sub-limit and each pilot is included as an additional named insured.Ĭan I expense my flight time as a business expense? There is a $1,000,000 insurance policy that covers the SharePlus pilots and passengers. How much are SharePlus members covered for insurance? You may sell your share yourself or we will sell if for you. The SharePlus Agreement includes a formula for determining the value of your share. There is an exit plan included in the SharePlus Program. What if I move from the area or I want to sell my share? Then you simply schedule your flight and go! You only pay the low hourly reserve rate and fuel costs when you fly other aircraft in the fleet. You will need to complete a check out in each model of aircraft that you fly, meet the pilot minimums, and be current in that type of plane. If a maintenance repair exceeds the amount of the maintenance reserve fund, the excess is billed as a quarterly special assessment and the hourly maintenance reserve rate is revised to insure an adequate reserve fund is maintained. Most new aircraft come with warranties for the first two years, which make the maintenance operating costs very predictable. gyro replacement) are paid out of the maintenance reserve fund. Scheduled maintenance services such as 50 hour and 100 hour inspections (or progressive inspections) and unscheduled repairs (i.e. Pilots pay an hourly engine and maintenance reserve fee when they fly any plane in the SharePlus fleet. How are large unscheduled maintenance costs paid for? Yes, you can extend the use of your aircraft time to friends, family, or business partners and choose a Trade Winds Aviation qualified pilot to fly your aircraft. A defaulting party will not affect other pilots in the aircraft in any way, nor can that pilot encumber the plane.Ĭan my SharePlus Pilot Services team fly my friends and family to desired destinations? The SharePlus Program was designed to minimize liability exposure between the program members by using an innovative, but proven approach. Partnerships have many liabilities if one partner cannot cover their costs or declares bankruptcy, the other partners are forced to pay the defaulting partner's bills or risk having the plane encumbered. Partners usually take turns managing the aircraft and accounting for costs. How is SharePlus different than a traditional partnership?Ī traditional partnership generally consists of one plane and 2-4 owners/pilots. For less than 1/2 of what you would pay in sales tax on the purchase of a new plane, you can purchase a fractional share and have money left over for fuel. Through the unique SharePlus Program, the sales tax is included in your monthly payment, and is only a fraction of the amount you would pay on the whole plane, and is spread out over the term of the program. When you purchase an aircraft for sole ownership (or conventional partnership) you must pay sales tax on the entire purchase price of the plane (at the time of purchase or within 6 months). By sharing the acquisition and fixed costs of operating a new aircraft, a pilot can have all the benefits of flying new aircraft under a fully managed program without the financial and time commitment that traditional ownership options require.Ībsolutely not! This is your aircraft to use for as few or as many hours per day as you choose.ĭo I have to pay the whole sales tax expense on a new aircraft? Aircraft share programs for piston engine aircraft is the next evolution of the fractional concept. The fractional aircraft shares programs were first developed for the jet aircraft industry as a way to share the acquisition and operating costs for corporate aircraft, while contracting the aircraft management to a full-service management team. What is a fractional aircraft share program?
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