Eagle East Flying Club numbers

[Bob Irving]

Greetings to all.  We have come up with some numbers and want to run them by
everyone to see what the interest level might be. 

WORD OF CAUTION - this is by no means a final decision. We simply want to
try to measure the level of interest in joining "Eagle East Flying Club" if
we decided to purchase - a 1974 Cessna 172M with 5700 Hrs TT and 1600 Hrs on
the engine.  

 

The engine has about 400 Hrs remaining before it must be replaced. The 400
Hrs remaining could come quickly if we have 15 members flying the plane.  We
don't want to lowball monthly dues and hourly cost only to hit everyone with
a surprise special assessment for a new engine 6 months down the road.
Therefore - with 15 members first year per member costs for this airplane
look like this;

 

Buy-in (engine reserve/down payment on aircraft) = $1450

Monthly dues = $55

Hourly rate (wet) = $65

 

These numbers include everything we can think of including financing costs,
insurance, normal maintenance, annual inspection, taxes, tiedown, etc.
After year 1 our aircraft would have a brand new zero time engine.  Perhaps
it would be upgraded at time of install from 150 hp engine to 180 hp.  Some
are already discussing adding a GPS but that's down the road. 

 

Would you be interested in forming a club if these were the numbers?  If
these numbers are not what you expected, tell me what you might be more
comfortable with. Please send me your comments.   We need feedback.  Thank
you.

 

Bob Irving  

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