Shares

ninjasam · Post by **ninjasam** » Wed Sep 28, 2011 9:14 pm

Hi,

I'm New to all this permit aircraft flying, it seems to be the way to go!

I recently bought a Taylor mono plane and love it.

some off my friends are all over it and begging me to let them fly it, i have no problem with this.

however, is there any way i can let them fly it with out selling permanent shares?? can you sell a no equity share/day share something along those lines.
i did read you can sell non equity shares in single seaters, but may have dreamed it

Thanks
S

Mark A · Post by **Mark A** » Thu Sep 29, 2011 9:28 pm

You can let them fly it, but you can't charge for anything other than the fuel they use.

Alternatively you can sell a share of 5% or more and they can then pay their fair share of all the costs without breaking the rules. The CAA will need to be informed of all the beneficial owners and what proportion they own. There are some restrictions re. non-EU citizens etc.

Nigel Hitchman · Post by **Nigel Hitchman** » Sun Oct 02, 2011 8:43 pm

you also need to remember that unfortuantely you will have to put them on your insurance before you let them fly your aircraft. Unless you have a policy for "any pilot"

Rob Swain · Post by **Rob Swain** » Mon Oct 03, 2011 2:46 pm

Nigel Hitchman wrote:Unless you have a policy for "any pilot"

In my limited experience when you get beyond a certain number of named pilots (4?) then it becomes 'any pilot with more than n hours time'.
The n hours time may be total, tailwheel, complex, 'on type' or something else. You'd need to enquire with the insurance broker about that one.
If somebody with less time wants to fly it then contact the insurers (and pay a bit more, probably) first.

ninjasam · Post by **ninjasam** » Tue Oct 04, 2011 10:53 am

have 'any pilot' insurance i did phone the insurance company to confirm, they said i can have up to 10 people, they must have over 70hours tt.

i want to let other people fly it but don’t want to be out of pocket, looks like the shares are the way to go!

If some one did have a little accident would that effect my insurance? or would it effect him when they went to get insurance?

Thanks for the replys
Sam

J.C. · Post by **J.C.** » Tue Oct 04, 2011 6:20 pm

There is a loop hole that lets you charge for a single seater. However you would need the requesit insurance.

Chris Martyr · Post by **Chris Martyr** » Wed Oct 05, 2011 10:39 am

Hi Sam ,
Well done on your acquisition of a Taylor Monoplane, they're great little aeroplanes.
I know that this is a personal question , but have you got much time in it yourself ? If you've only just bought it , it may be a good idea to get to know its foibles first , so you can brief your mates who all sound like they are dying ['scuse the pun] to get their hands on it .
Some of these cheeky cherub type looking aeroplanes appear very innocent sitting in the corner of a hangar, but can turn into snarling little demons at the drop of a hat .
Try Traffords for insurance , they seem very amenable and helpful .
Happy taildraggin' mate !

ninjasam · Post by **ninjasam** » Wed Oct 05, 2011 7:40 pm

Hi,

Ive got quite a few hours dragging tails but none of the tails are monoplane shaped! im still trying to locate some new wing bolts for it! the ones that came with it are not in good condition!!!!!

I am going to do a fair few hours on her before i let anyone fly it!!!!

Haywood quoted me £770 any pilot, no excess... i thought that sounded good!

sound good like a good price to any of you chaps??

Thanks
S

Nick Allen · Post by **Nick Allen** » Thu Oct 06, 2011 11:57 am

Sounds on the high side to me. (Though the any pilot, no excess may be bumping this up.)

Nigel Ramsay · Post by **Nigel Ramsay** » Thu Oct 06, 2011 4:56 pm

I had a quote of approx £575 for the D9, but that was me only, flying. (Crispin Spears).

Nick Allen · Post by **Nick Allen** » Thu Oct 06, 2011 5:15 pm

Try Traffords -- they gave us a good price for our D9 syndicate.

ninjasam · Post by **ninjasam** » Tue Oct 11, 2011 11:45 am

thanks for all the help! i will try Traffords

Thanks

ninjasam · Post by **ninjasam** » Sat Oct 15, 2011 6:24 pm

WOW Traffords.... £420 any pilot! cool

Thanks
everyone