A new US firm has launched a general aviation fractional ownership scheme designed to reduce the cost of owning an aircraft. Leader Aircraft's "managed co-ownership" programme requires a $30,000 payment to purchase a one-fifth share in an aircraft, but this is refunded at the end of the three-year agreement. The owner pays a monthly management fee of $225 and $55/h to use the aircraft.
Based at Montgomery, New York's Orange County Airport, Leader has acquired its first aircraft, a refurbished and upgraded Raytheon Beech V35 Bonanza, and expects its first share owners to begin flying within the next two months. President John Waters says Leader is in discussion with insurers on experience requirements for share buyers, and may provide its own training programme for new owners.
Source: Flight International
