Financial Information

Image a sample invoice Capital costs:
The value of a light aircraft depends on many things: the state of the market, engine hours, avionics fit etc. Since we have some shares available and would welcome at least one new partner, it might be helpful to state that we believe the aircraft to be currently valued around £160,000 (for sale purposes VAT has to be added). Irrespective of this, shares are fully negotiable between the existing and new partners. We would aim to keep the shareholdings as equal as possible, but we are always open to offers, with the possibility also for non-equity partners.

Fixed costs:
All partners share the costs not covered by the hourly fee. These are primarily insurance, parking (including all landings at Oxford, but not at other airports), annual and 6 monthly/50 hour services, company overheads and any unforeseen repairs. For the last few years these have amounted to a total (to be shared) of around £14,000 (including VAT) per year, but this can vary depending on unforeseen repair bills or collective decisions to upgrade equipment.

Hourly costs:
Equity partners are currently charged £168 per hour (wet, excluding VAT) based on the Trakfax reading, which measures flying time from takeoff to landing (not the engine start to engine stop time).

Non-equity partners are charged at £189 per hour (wet, excluding VAT) to account for capital depreciation. The hourly fee covers fuel, oil and an allowance for engine, prop and avionics replacement (and depreciation). Commitment as a non-equity partner is six months notice. In the case of "force majeure" (serious illness, loss of medical, aircraft write-off...), we all agree to have enough respect for each other to reach a gentleman's agreement on the way forward.

Non-partners will be charged at £330 per hour (wet, excluding VAT) up to a maximum of 20 hours per year.

All pilots must be checked out by an instructor agreed with us and be eligible for inclusion in our insurance policy. All pilots agree to keep their licences, ratings, medicals etc up-to-date and to fly within the limits of their privileges and personal competence. If, in the event of an accident or incident giving rise to additional expense and the pilot is found to have acted outside his/her licence restrictions, these extra costs will be due from that pilot.

We review all costs in April each year