What are the expenses involved in owning an airplane?
|A: Aircraft ownership expenses are highly variable. Two owners of essentially | identical airplanes may disagree widely on the cost of owning. Here’s a | guide so you can put together your own cost model. | Fixed expenses – you’ll incur these no matter how much or little you fly | o Capital cost – the cost of the money you’ve tied up in the aircraft. | Some pilots say “don’t count this – the airplane is an investment and | will appreciate”. Others say “even if you buy it outright, you’ve got | to look at what that money would earn you on the open market”. | o Taxes – varies by state and county. | o Insurance – get several quotes before you buy. Can vary from a few | hundred dollars a year to over $10K per year for a piston single. | Factors influencing cost include coverage chosen (liability limits, | hull limits), pilot qualifications (ratings, total time, time in type, | violations/accidents), type of use (personal, commercial), etc. | o Hangaring or tiedown costs – vary from about
