How many partners are in a typical partnership?

Most partnerships are comprised of 3-5 co-owners with a few rare exceptions.

How is the registration paperwork handled?

The standard FAA registration and bill of sale forms are utilized; all co-owner names are listed on the registration certificate.

Is there paperwork or a partnership agreement that spells out rules of engagement?

There is a very thorough multi page agreement drafted by an attorney that spells out the terms and conditions of the partnership.

How is the billing handled and what is is the structure of the invoice?

You receive a monthly statement sent out by the designated “financial officer” partner. The invoice consists of a fixed monthly fee and a wet (fuel included) hourly fee derived from a monthly log kept in the plane.

What are the monthly fees like?

I’ll use examples from 2 existing partnerships :
⚬ Comanche 3 way partnership; fixed monthly fee of $150 and $80/hr wet fee.
⚬ Cessna 182 4 way partnership; $100 fixed monthly fee and $85/hr wet fee.

Is it cheaper to rent?

Most pilots that enter partnerships do so for several reasons:
⚬ Flexibility in scheduling including overnight trips and no rushing back.

⚬ A known maintenance history and excellent equipment such as avionics etc.

⚬ Economic advantage especially if you fly more than 3 hours/month.

⚬ The ability and availability to work on additional ratings in the same airplane.

How is the maintenance handled?

A designated “maintenance officer partner” has the primary responsibility to review the squawk list and schedule the maintenance. There is also a designated avionics responsibility assigned to one of the partners.

How many hours are typically flown by each partner annually?

That number varies between 25-70 hours; most members over a span of 15 years average 35 hours.

What happens when there are scheduling conflicts?

On rare occasions 2 partners want to book the plane for the same time slot or day. Usually they pick up the phone and work it out. That normally happens once or twice a year.

Is there much interaction between the partners?

This varies between partnerships. Some meet on a regular basis for oil changes or washes etc. Others may run into each other bimonthly. On average you may run into a partner once or twice a month if you are an active pilot. Some partnerships have yielded great friendships over the years. Like anything else you get out of it what you invest in it.

How are regular expenses handled?

Each partnership has an established maintenance fund. They typically run around $2500; they are funded when the partnership is initially set up. If you’re joining a new partnership you may be asked to contribute a third or a quarter (based on your number of partners) of the anticipated amount. The fixed and hourly fees go into this account for replenishment.

How often are unexpected big expenses incurred?

Usually there is an understanding regarding this topic. If additional avionics are agreed upon by all partners then a one time assessment covering that expense is needed. Non anticipated assessments for mechanical reasons are rare but could happen its nice to be able to spread that expense 3 or 4 ways.

How available is the plane?

Ask the partner selling out for access to view their calendar. On average these planes fly 10-12 hours a month and are widely available.

How is the insurance handled?

Each plane has a policy that dictates the requirements in general and in type. For example one of the Cessna 182 partnerships requires a private pilot certificate, 100 hours total and 5 in type. These policies are usually rated on the least experienced pilot. At times the partnership may dictate you pay a surcharge to cover that extra expense if you are the lowest time person.