Newbies idea!
Thread Starter
Join Date: Aug 2003
Location: UK/AUSTRALIA/NZ
Posts: 27
Likes: 0
Received 0 Likes
on
0 Posts
Newbies idea!
Please forgive me if this has been done before.
Reading the thread about the $10,000 "buy a job scheme" got me thinking.
Is this possible? You tell me.
Hypothetically 10 newbies form a co-operative and all buy a 10% share in a new R22 with factory warranty, whistles and bells.
If this machine is only used on a private basis by low houred licenced CPL's and insured as such. Then run at cost price/no profit. The machine could then be sold after a period and new newbies can buy out old newbies after a sufficient number of hours has been reached e.g. 500.
After looking at the Robinson Heli website the cost price of running an R22 cost is quite attractive.
This is just a raw plan of action so please shoot me down gently!
Hughey
Reading the thread about the $10,000 "buy a job scheme" got me thinking.
Is this possible? You tell me.
Hypothetically 10 newbies form a co-operative and all buy a 10% share in a new R22 with factory warranty, whistles and bells.
If this machine is only used on a private basis by low houred licenced CPL's and insured as such. Then run at cost price/no profit. The machine could then be sold after a period and new newbies can buy out old newbies after a sufficient number of hours has been reached e.g. 500.
After looking at the Robinson Heli website the cost price of running an R22 cost is quite attractive.
This is just a raw plan of action so please shoot me down gently!
Hughey
Thread Starter
Join Date: Aug 2003
Location: UK/AUSTRALIA/NZ
Posts: 27
Likes: 0
Received 0 Likes
on
0 Posts
Charlie
I was'nt thinking about dollars! Basic math tells me that!
Do self fly hire schemes exist in UK? During my time in Australia and in NZ I have not seen any type of hiring at cost oportunities.
The only option would be to buy new.
Insurance will always be a problem but without researching premiums in different countries I cannot comment as I do not have sufficient information. Premium for R22 in NZ for training is 20% of the machines value. Excess?? R44 6.5 - 8% value.
Administration will be a problem also. But nothing that cannot be overcome.
Somebody might have a prang. This would have to be a basic understanding whilst joining such a group. Insurance will pay all will not be lost. Maybe the person who has the accident pays for the excess by losing their 10% claim, the point I'm making is contracts can vary.
I think me needs to research some more.
Hughey
I was'nt thinking about dollars! Basic math tells me that!
Do self fly hire schemes exist in UK? During my time in Australia and in NZ I have not seen any type of hiring at cost oportunities.
The only option would be to buy new.
Insurance will always be a problem but without researching premiums in different countries I cannot comment as I do not have sufficient information. Premium for R22 in NZ for training is 20% of the machines value. Excess?? R44 6.5 - 8% value.
Administration will be a problem also. But nothing that cannot be overcome.
Somebody might have a prang. This would have to be a basic understanding whilst joining such a group. Insurance will pay all will not be lost. Maybe the person who has the accident pays for the excess by losing their 10% claim, the point I'm making is contracts can vary.
I think me needs to research some more.
Hughey
Don't kid yourself that "Insurance will pay."
They will look for any loophole in the way the machine is operated, to avoid a payout.
Then you must pay the excess, based on a percentage of the replacement cost, and they will pay a percentage, based on the original cost (not replacement) less the percentage of hours remaining on the airframe.
Thus, you bend it when it is almost time-ex and they will pay almost zippo.
The biggest cost, though, won't be the big bender, it will be the little ones that are less than the cost of the excess plus the increased premium for the next year, were you to claim. Things like heavy landings, clipping a tree with a blade when you land in your uncle's back yard, and engine overspeeds from inexperienced mishandling.
Lotsa luck!
They will look for any loophole in the way the machine is operated, to avoid a payout.
Then you must pay the excess, based on a percentage of the replacement cost, and they will pay a percentage, based on the original cost (not replacement) less the percentage of hours remaining on the airframe.
Thus, you bend it when it is almost time-ex and they will pay almost zippo.
The biggest cost, though, won't be the big bender, it will be the little ones that are less than the cost of the excess plus the increased premium for the next year, were you to claim. Things like heavy landings, clipping a tree with a blade when you land in your uncle's back yard, and engine overspeeds from inexperienced mishandling.
Lotsa luck!
