Scheme promises unlimited flying at lower cost
A new take on shared aircraft ownership has been launched in Canada, with plans to expand the programme to the USA. Toronto-based Easy AirShare says its programme differs from existing schemes in offering unlimited flying at lower costs.
Easy AirShare plans to locate aircraft at airports across Canada, and later the USA, each shared between five to 10 owners. The first two aircraft, a Cirrus SR20 and SR22, are on order for delivery in September, and will be based in the Toronto area, says chief executive Bassam Al-Sarraj.
Instead of flying hours, owners will be assigned points – 75 points a year for a 1/10th share, for example. One hour of flying uses one point, an overnight trip two points – but if the aircraft is not in use, owners are free to fly it for up to 3h without using any points. “This makes it more like owning, and not renting,” says Al-Sarraj.
Owners will sign a three-year agreement, at the end of which they can buy the aircraft outright, sell their share back, or trade it in for a share in a new aircraft. Over three years, for an owner flying 100h/year, Al-Sarraj says Easy AirShare will be $14,000 cheaper than the rival OurPlane fractional-ownership programme.
A 1/8th share in an SR22GTS will cost $67,000, on top of which an owner will pay Easy AirShare $550 a month to cover insurance, hangarage and other fees, plus $50 per flight towards engine overhaul costs. Unlike other programmes, says Al-Sarraj, any unspent maintenance reserve is refunded to owners at the end of the three years.
Easy AirShare is prepared to base an aircraft where there are an initial three or four owners, carrying the risk until the remaining shares are sold. At locations with more than one aircraft, owners will sign an interchange agreement allowing them to use any of the aircraft. The company will add other aircraft types as required. Al-Sarraj says there is interest in, for example, Piper’s six-seat 6X and high-performance Malibu Mirage.
GRAHAM WARWICK/WASHINGTON DC
Source: Flight International
