The Commander Group Ltd
The aircraft is registered to and owned by The Commander Group Ltd which is a small non-profit LLC that we created. The partners each own an equal share in the company which entitles each partner to equal use of all company assets. This includes the aircraft and the tug as well as any small parts etc that we have. The aircraft is fully insured for all perils at rest and in flight by Air1Insurance in BC.
A new partner will be required based on experience and decided by the insurance company to become type rated on the aircraft. This is typically 3-5 hours of dual with our appointed instructor at the Waterloo Wellington Flight Centre.
The aircraft is housed in a shared 3,500 sqft heated hangar that we share with two other aircraft partnerships. The hangar and engine can be pre-heated remotely via mobile device prior to flying.
There are FOUR financial components to the partnership.
The FIRST component is the initial share price that is paid directly to the selling partner in exchange for his share certificate. This makes you a 1/3 shareholder of the company and all assets owned by the company (the airplane).
This cost is $ 35,000 CAD
The SECOND component is the fixed monthly fee paid to the company of $ 310 dollars whether you fly or not. An invoice is emailed to you prior to the end of the month and your fees are due immediately. This monthly fee includes an accrual/payment for :
- annual insurance renewal which is $ 2,300
- monthly share of hangar rent which is $ 480 split three ways
- annual accrual for NAV Canada registration fees
- annual accrual for US CBP sticker for US flights
- accrual for bi-annual pitot/static check
- accrual for annual inspection. This is for based expected costs.
Any actual costs above and beyond this are billed to the partners equally and
due upon invoice
- accrual for yearly corporate tax preparation and filings
- small accrual for planned maintenance costs such as 50 hour oil change and oil
- accrual for annual ELT recertification
The THIRD component is a $ 30/hour fee paid to the company for every HOBBS hour you fly. This goes directly to the reserves for engine and propellor. The recent December 2017 propeller overhaul was 100% funded by the prior reserves so no additional out of pocket expenses.
The more you fly, the more you contribute to the engine/prop reserves.....makes sense....
The FOURTH component is that after you fly, you refuel the aircraft back up to the designated tabs in the tank at your cost and it is ready for the next flight.
We have a very simple and easy to understand partnership agreement that was created from some of the most successful partnerships we know and it keeps everything above board and transparent.
We use GOBOKO as our online booking tool so you can check availability at any time and book your flights. The group is very flexible in accommodating special requests that come up now and then and there we keep the partnership at three members to ensure very high availability and balance to yearly hours flown (which is about 80-100).
SOME FINE PRINT because not everyone is an ideal candidate for an aircraft partnership but once found it is highly rewarding and successful.
It is an expensive and time consuming venture to market an aircraft or partnership in the aircraft. Before considering contacting us, please review all details on the site fully and be comfortable with where the aircraft is located. We maintain the aircraft to the highest standards. We take pride in the condition of the airplane and it serves us safely and reliably.
We are not in a hurry to sell the partnership so we will ensure we have the right partner. Most partnerships fail or are miserable because of poor compatibility between the partners. Great partners make a truly cost effective and rewarding experience possible and we have enjoyed this for over five years.
If it all sounds interesting to you, contact us.