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Let’s be honest: The economics of flying is not for the faint of heart. In fact, the average cost of just getting your “license to learn” is now hovering around the $20,000 mark. And if that number doesn’t faze you, then let me sprinkle in some rampant inflation, a tight insurance market, and just the high opportunity cost of staying current—let alone proficient—into the mix. In fact, I would argue that the price to get your ticket is trivial compared to the lifetime cost of keeping it meaningful. So that begs the question, how do people fly these days?
The Renter
Whether you realize it or not, your disco flight was your indoctrination to both aviation and renting. In fact, for the overwhelming majority of us, we are first student renters before graduating into pilot ones. And renting, at least initially, has a lot going for it: you fly planes you are intimately familiar with, you still have direct access to your CFI for advice, and the plane’s maintenance is presumably under more scrutiny every hundred hours or so (read: uh hun). In addition, renter’s insurance is typically not that expensive, and even if there is an issue, outside of negligence, it’s not your responsibility to fix. In terms of sheer cost, Flying Magazine reports that the average price of a 172 lies somewhere between $120–200 per hour/wet depending on year and equipment.
Unfortunately, despite many of its pros, there are quite a number of cons with renting. First, most rentals are based on Hobbs time not tach, so you are paying 10–20% more than you would for a club plane. Second, most rentals come with a daily minimum so trying to use the plane for a weekend getaway can make most ramp fees look like chump change. Third, depending on how active your flight school is, availability may be an issue too, with planes scheduled out for weeks to even months in advance. Finally, and most importantly, not all rental planes are created equally. As I stated in my previous article, a plane might be airworthy but not necessarily mission-worthy—most rentals are beaters, particularly if used for primary training. Not to mention that finding one or two (read: like a dozen) in-op stickers stuck randomly on the panel is not completely unheard of. I live next to several flight schools and the quality across rental fleets is quite stark. Still, for tooling around town at least, a renter may fit the bill nicely.
The Clubber
For most pilots though, flying clubs are by far and wide the most cost-effective way to get high, and in many respects form the backbone of GA today. By sharing the flying costs across its membership, clubs usually offer a lower wet rate than rentals, and that rate is almost always based on tach time not Hobbs too. But rates aren’t their only advantage; clubs typically have no daily minimums, comprehensive insurance policies, and depending on their size, a diverse and well-equipped fleet. And even if you don’t fly a lot, clubs are a fantastic way to make new friends and stay connected with the greater aviation community at large.
Unfortunately, joining a club has a much higher barrier to entry than finding a rental. Most clubs usually have some experience minimum to join. And even if you have the hours, many of them, particularly the popular ones, have large waiting lists – it can take months to even years before getting a callback from one. In fact, while writing this very article, I got an email from a club asking me if I wanted to stay on their waiting list which I signed up for many years ago!
Another downside to clubs is like rentals, not all clubs are created equally. Some clubs are better managed than others, and so a non-trivial assessment isn’t unheard of when an unexpected mechanical problem arises. Other hidden costs may include having separate insurance to cover the club’s deductible and understanding your responsibilities when a club plane goes down away from home. But at the end of the day, there really isn’t a more economical way to fly for the weekend warrior than a flying club.
The Partnership
Where flying clubs usually fall short is when you become a frequent flyer. What if I told you that for a few more AMUs per year, you could fly when you want, where you want, and in the plane of your choice? And unlike clubs, you have direct ownership, which means you have a say on how the plane is maintained and controlled. That is usually not the case with a club which typically operates as an entity, e.g., a non-for-profit, and your buy-in is really for a partial share of that entity and the rights to participate in it according to its operating agreement.
Finding the right partner or set of partners can really make or break this kind of arrangement. Like clubs, partnerships come in all shapes and sizes too, and not every partner has to have an equal stake in the plane. Furthermore, direct ownership is a double-edged sword since now the responsibility for maintenance and compliance falls on you, the owner. Not to mention that there are certain start-up costs and tax implications creating a partnership as well. The devil is of course in the details, but ultimately, a great partnership can strike the perfect balance between the revolving door of rentals and the red tape of clubs.
The Owner
Generally speaking, the least affordable option is sole owner and operator. But not always.
I knew a pilot who owned a Cub that spent less money per year than I did flying for a club. Sure, I flew more, but his overall cost per year was a lot less than mine. There are of course other scenarios where owning a plane can be very cost effective, particularly if you fly your plane for business and can tax-deduct flights accordingly. A leaseback is another viable option to mitigate ownership costs too, where you own the plane but rent it out to a flight school or club. In fact, I know of one well-known dealer that has a program that matches aircraft owners with prospective lessees (for a fee, of course).
However, for most pilots, owning a plane isn’t practical; even if you get past the initial sticker shock, having an expensive asset you use on a semi-regular basis doesn’t make a lot of financial sense. Still, there is no doubt it’s nice to be king (or queen).
As Usual, It Depends
I’ve listed a number of ways most pilots actually get aloft, all with different cost structures and considerations. And there is no right answer here, since everyone’s personal finances and flying goals are different. But just like your plane’s annual, it’s a good idea to evaluate your own yearly flying habits and decide if the current bucket you find yourself in still makes financial sense. I know I have this conversation (read: shouting match) with myself constantly. Good news, I always win. Or lose. Time will tell.
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I’m a retired commercial airline pilot , 35K hours and utilize my 2 place STOL aircraft 125-150 hrs per year…DAY/VFR.
The cost to remain truly night and instrument proficient in a high performance single or light twin for my preferred “mission” makes zero sense.
I always recommend to prospective buyers/owners that they carefully define their “mission” , choose an appropriate airplane and unless you plan to fly at least 75 hrs per year….rent or join a club.
If you want to lose a friend or end up in court…and lose a lot of money….form a partnership. Seen that scenario play out too many times.
Can you elaborate on the “lose a lot of money…. form a partnership”? What exactly were the reasons you’ve seen them fail? I know of a few.
Please let us know where you can rent an “airworthy” (and believe me I use that term in its broadest and most generous sense) for $120 wet. Having done a survey in our area when I thought about renting my Skyhawk for advanced – Instrument/Commercial – instruction, I found $175 the most well-worn steamers to $245 for late model TAA’s. Honestly, when doing the numbers, I don’t know how even at $175 they can make the economics work.
Having done both the rental and owner route, I think buy – fly – sell is the way to train. Just don’t try to do that with a 172 unless you either have either disposable cash you can tie up for a couple of years, or like straight backs and spring gear. The resale market is great so ROI is pretty good, but entrance costs can be prohibitive.
I agree, their $120 number seems very optimistic.
Being realistic matching mission requirements, desirements and “once in a blue moon” exceptions vs budget is first step.
Parallel to comment on day/vfr, don’t kid yourself you’ll save money vs other means of transport…and if you do you’ll probably put yourself in a fatigue or weather corner someday via a later than desired flt departure, one you’ll hopefully survive to not repeat. If you have the $$ and need for off airline route travel, buy charter time instead.
Flying is much more affordable if you cross off tech complex, 4 seat, shiny/new, fancy interior, etc and focus on the fun…my most common response when asked where I’m going is “up”. Last I checked, no frontline fighter had an upholstered interior and most had the worn finish of an NYC taxi cab.
Some costs you control…value of acft determines majority of insurance cost, taxes (if applicable in your area), maint. High hp brings higher fuel burn and high eng maint. Hangar vs tiedown is like the old Fram commercial…pay me now of pay me later (sun, heat, wind, critter damage). Best value is experimental. Doing your own maint to limits allowed for your acft saves money, teaches you how things work and helps attune you as a pilot to what the acft is trying to tell you.
If you want to fly there is a way…it may take some sacrifices to get/stay there… make your coffee at home and I recommend chunky peanut butter.
Chunky peanut butter? Savages!
I bought a Warrior after retiring from United. My daughter used it oaf her IFR, Comm, CFI and CFII. We put 350 hours on i in the first two years. She has moved on in her career and I fly it about fifty hours a year.
I still love it. It is beautiful and always there when I want it. It’s fairly simple to maintain. i wish I had done it twenty years earlier.
I started flying lessons in Dec. of 1975. Paid $16.00 per hour for the Cessna 150 and $6.00 per hour for the instructor. Total cost for my private was about $1,600.
Haha… that is exactly what I paid learning to fly while in college in Columbus, Ohio. Worked the dorm slop line and earned enough for one hour of instruction.
Ah yes, Richard, you remember those great ‘ole days. I learned on a 1,400’ turf strip and flying was much simpler then, right? My instructor was building hours to get a job with the airlines, which she did, so the time was more important to her than the money. She later worked for the FAA as a check ride pilot for the airline pilots. She’s now retired.
I started in 1970, a Cessna 150 was $12/hour wet and my Private package was $500!! Now my club at HEF has a DA-40 for $120/hr wet
$8.50,wet 150, $ 6 for the instructor, $1000 spent in total, flying club in Las Vegas, 1969
Hilariously, that’s probably not enough to even join a club around here let a long get a rating!
Say what you want but I keep my fun flying When I want and where I like with my P51
Or Huey. Thank you VR and DCS ! I’m not the only one and flying formation with my friends is extremely affordable and safe. ♂️
Years ago at a local airport, many blue collar pilots would come out on weekends and after work to fly their Cessna 140s, piper pacers, etc. gas and insurance were cheap and these people had a lot of fun! Now those people are priced right out of aviation. I managed to stay in a while longer making enough income and being in a commercial pilot. However, now in my old age and even with a lot of tail wheel time I checked on buying a Citabria 7-GCBC For sale at a reasonable price with an updated panel until I looked at the logbook and found out why it was reasonably priced! Anyway, the long of the short of it is fuel is over $6 Per gallon and I’m sure even more as I speak. Even with tons of tailwheel hours and lots of hours in the same type airplane, the insurance company said hand us over $2000! Can’t do it. My flying career is officially over! But I do tip my hat to the people who can afford it!
I bought our 172G (1966) 14 years ago with new cylinders. After listening to horror stories about renting a hangar for $$$$ and driving hours I’m glad my rent is now $170.00 and a 15 minute drive to a secure Airport in North Iowa. I flew more the first summer than I would have the rest of my life renting. Using mogas and having the best maintenance shop close by is a great blessing. When it comes to cost I don’t think about it. The ship cost me less than the truck that pulls a boat,camper or horse trailer. I have old boats and camper. If I kept the boat on a lift it would be more than the hangar.
Join a flying club mid 60’s at Chatham aviation kmmu for $250 and rent a 150 for $4.50 an hour.
I would like to hear if LSA is a viable/popular route that some(or the author) on this forum might consider – we’re not talking gliders here. Surely its an option?
A lot of attention MOSIAC has gotten is how sport pilots will be able to fly more traditional certified aircraft. However, I think for most existing pilots the excitement is in the fact that MOSIAC may usher in a whole new range of cheaper, yet still very capable aircraft to the market. We will have to wait and see how this all fleshes out.
The late Gordon Baxter’s reply to “How much does general aviation cost.?” was, “How Much you got?” and this was twenty years ago. For me the trip wire was insurance cost after age 75. But I was really fortunate to fly and own a Bonanza or a
Baron for most of the 50yrs I held a medical. I don’t think I could have spent that money any better. If you can find a way to do it….
I own a copy of the Al Mooney story autographed by the man himself!
I own a high performance piston single engine airplane. This article prompted me to update my airplane O&M spreadsheet while at the same time reminding me why I don’t often update my airplane O&M spreadsheet. I just don’t care to know how financially unjustifiable it is. That could lead to completely unacceptable rational consideration of selling the airplane.
Fortunately ownership and flying isn’t something I need to justify with anything other than the challenge, enjoyment and freedom it affords me and my wife. Oh, and TSA avoidance. Can’t forget that. And the traveling public. I don’t have to deal with them.
I had a discussion with a hangar neighbor once where we agreed with you completely. Choose a plane that you can basically afford and don’t look at the bills. It will seriously detract from your pleasure in ownership to be constantly worrying about them.
Elistist much?
I got fed up with the hassles of renting a few weeks after starting flight training. Went and bought a nice Cardinal pre-solo and have never looked back. Yes, the costs are certainly higher but I like the feeling of I can take the keys and go fly my plane when I feel like it.
I was told that a lot of newer DA-40s sold in the US are to pre-solo students! Not sure I completely believe that but that’s what one dealer told me. The idea was to train the 40 and then upgrade to a higher performance post ticket. This was a few years ago.
You mentioned that renters insurance is cheap. You may be under the delusion that many pilots are that they can pay $200 and be covered. Read the policy. The $200 variety does not cover the aircraft. It only covers something you might damage on the ground if you crash. The reality is that coverage for a $150,000 airplane runs about $1,500. That’s why I’m in a flying club. I’m an owner, not a renter, so that coverage isn’t necessary, and my annual dues are less than the insurance would be, not to mention airplane rates being significantly lower.
Keep in mind that usually a flight school has their own insurance that will cover the aircraft up to some hull value. I don’t know your exact situation, but compared to all the other types of insurance, renter’s is by far and wide the cheapest.
Two things about clubs:
1) Insurance maybe necessary if your club has a high deductible. I’d go check that. You can get insurance to cover that which is usually a few hundred bucks. I know a few clubbers that do exactly that since a prop strike could minimally cost them 10k or more which they don’t have.
2) If you are part of a club that operates as a corporation (has a Board et al), then you are an owner of a share in the club, not any of its assets vis-a-vis, the plane(s), i.e., it is a different kind of “ownership” than say an LLC/partnership structure where you are in fact in total control of the asset. In a club, you get just get a vote, and a lot of times the Board can make operating decisions which you may or may not agree with.
Having been a right seater all my life with my father, I now fly his Bonanza after he retired from the Aerostar. He no longer flys and I have taken over full responsibility for the plane, including purchasing it from my parents. It is no small feat with the required costs described in the article – maintenance, annual, the surprise costly find, etc. But it is the insurance costs that is most shocking. Everyone I’ve discussed it with, from my mechanic’s insurance rates to other pilots, the fees have increased so high, they are killing GA. It is obvious they want to get rid of GA and just have commercial, career pilots.