Trike - Syndicate

[Loco]

hi guys

do you know if anybody locally bought and operated a trike in a syndicate?

if all goes well i'd like to buy a trike in about 7 months time but was wondering if this wasn't perhaps a more cost-effective way of doing it

this could enable the syndicate to buy a much better trike e.g. GT450 with all the bells & whistles

wonder what the insurance implications might be in this setup & how people would share the use of the trike & split the maintenance costs?

cheers
ant

[bobthebuilder]

Hi ant.

You can buy an aircraft in partnership.
It's a bit like sharing your wife though.
Monogomy may be a better option unless you are into that sort of thing.

Personally .... I don't share well, but it depends on the type of person you are.

[Loco]

Hi ant.

You can buy an aircraft in partnership.
It's a bit like sharing your wife though.
Monogomy may be a better option unless you are into that sort of thing.

but you can buy a supermodel (sure you have to share her) vs. well... not a supermodel...

[bobthebuilder]

They have names for "supermodels" like that.

[WhiteEagle]

Hi Ant,
I know of a couple of guys in the Eastern Cape (4 of them) that bought a Gyro. They use it as a Company, and when they want to fly, hire it from their own company. I suppose they have sorted out the costs and insurance by means of a pro rata scheme and leave the Gyro with a full tank of fuel after flying. If you like I can get a number for you, just PM me.

Regards

[Big-D]

CHat to Darkhelmet and Tailspin - they have airy in partnership and it works exceptionally well, seperate bank account for maintenance etc - Well thought through

D

[Bundy]

Hi Anthonyhugo,

I like Dark Helmet and Tailspin, also bought a trike in a partnership. (in fact Propwash Dave used to own her previously too)

We set up a contract between the two of us and the trike is registered in both our names. We have a separate bank acc for all expenses in relation to the plane and we pay a monthly "levy" to cover all admin costs and hangerage. (ATF, AP's etc)

The Maintenance on the trike is paid for acc to hours flown. We pay in monthly an amount equal to our individual hours accumulated (flight folio) and multiply that by the average running cost of the Aquilla (R150/hour or thereabouts) It seems to be the "fairest" way of doing things...We also have a "Roster system" whereby we each have priority to the plane over a 7 day period, IE if its my week, Stefan needs to ask me if its OK to go fly and vice versa.

You need to pick your partner/s carefully though

Cant comment on insurance, ours is uninsured. We have got a portion of the contract that deals with accident damage and who is responsible for damages etc (very important!) We decided to set a limit of 75% of the bookvalue of the trike. if damages are more than that, we pay out the partner his share and that's that.

An exit clause is also essential....

I am happy being in a partnership....to be honest I'd of course rather own a plane outright but financially I just cant afford it so this is the next best thing

Feel free to call me and chat about the finer details if you like... Oh 7 two 823 2341

[Big-D]

Cant comment on insurance, ours is uninsured.

Comprehensive insurance, including insurance in event of a prang is expensive agreed.

The Recreational wings scheme by Alexander Forbes is cheap though and covers fire, theft and risks while towing - Look into it, really affordable and nice to have in event of catastrophe at your airfield - I can't remember the exact amount but on DBP was something like R700 a year Bundy...

D

[Tribal Croc]

Cant comment on insurance, ours is uninsured.

Comprehensive insurance, including insurance in event of a prang is expensive agreed.

The Recreational wings scheme by Alexander Forbes is cheap though and covers fire, theft and risks while towing - Look into it, really affordable and nice to have in event of catastrophe at your airfield - I can't remember the exact amount but on DBP was something like R700 a year Bundy...

D

Dave is right if memory serves me it was R870 or there abouts , I will look for the cover sheet and pm you the details

[Tailspin]

Cant comment on insurance, ours is uninsured.

Comprehensive insurance, including insurance in event of a prang is expensive agreed.

The Recreational wings scheme by Alexander Forbes is cheap though and covers fire, theft and risks while towing - Look into it, really affordable and nice to have in event of catastrophe at your airfield - I can't remember the exact amount but on DBP was something like R700 a year Bundy...

D

Dave is right if memory serves me it was R870 or there abouts , I will look for the cover sheet and pm you the details

Tribal PM me the Details as well please.

[Bundy]

Thanks TC, that will definately be a good idea....with these freak storms we are having these days it is always a worry that something will happen to the trike (as you prob know, the doors on the hangers at ML are shade cloth) while being hangered.

Just look at what happened at petit the last year!

[Tribal Croc]

Pm's sent

[Blue Eagle]

Hi Anthonyhugo...

I am looking for someone to share buying a Plane with. I will be ready around the end of the year though... where do you fly from? I did my license through SkyRiders (Fanie and Mervyn). I fly from there mostly but don't have my own plane... so it's a case of, "wherever the wind blows, is where I fly from..."...

regards,
Linda

[Loco]

Thanks for all the great info thus far guys!

I'll probably chat to some of you when the time comes to get ideas of drafting up the partner contract/agreement etc. - don't want to miss something or be under-insured!

The nice thing with sharing the costs is that we can then possibly afford full comprehensive insurance!?

@Blue Eagle - Hi I'll also be looking to buy round about that time I guess... I fly from Rhino Park at the moment (still training - only about 6 hours done so long way to go ) but with a partnership we'll have to come up with a location that's best suited to all involved...

Cheers
Ant

[airborne edge]

I have a 3-way partnership in a fix wing aircraft that works very well (partners have other aircraft as well). Tried a partnership with my trike which did not work out . Big strory is choose your partner/s well otherwise it will backfire in your face big time