FAQ: Frequently Asked Questions: Airplane Rental in New England
A: Singles and twins with 200 horsepower or greater, and TAA (technically advanced aircraft) with glass cockpits. Typical examples include Diamond DA-40 and Twinstar, Cherokee Six, Arrow, Saratoga, Skylane, Stationair, Centurion, Bonanza, Baron, Cirrus, Columbia (Cessna Corvallis), Mooney, Seneca, Malibu and turboprops.
A: At least 750 hours PIC with an instrument rating, complex endorsement, high-performance signoff, and checkout by an approved AirPlan instructor.
Q: How is insurance handled? A: Owners must arrange for additional insurance to cover multiple users. Initially, a limited rental policy for a total of four to five pilots will increase an owner's premium only slightly, while testing the demand and income stream generated by AirPlan rentals. Pilots must carry their own non-owned aircraft insurance with limits of $30,000 hull value and $1,000,000 liability.
Q: As a renter, what charges can I expect in addition to the hourly Hobbs rate? A: AirPlan charges $160 per month per member pilot for access to all rental airplanes in its fleet. An initial deposit of $1,150, refundable at any time, is held to cover monthly charges. Cost of individual non-owned aircraft insurance will run approximately $400 annually.
A: AirPlan rental rates are wet rates which include the cost of fuel and oil. A Cherokee Six, rented an average of ten hours per month at $185 per Hobbs hour, would generate approximately one-third of this amount, or $7,800 annually. An exact analysis for your airplane is performed by AirPlan and would include cost of fuel and fuel burn, insurance, AirPlan fee of 7%, unscheduled maintenance and rental demand for your particular make and model. For high-performance engines (300 HP and turbo-charged) a dry rate may apply.
Q: As an owner, how will I know that my airplane is being flown by experienced pilots who will treat it the same way I would?
A: AirPlan has a zero-defects, zero-tolerance policy for its renter pilots. We demand that renters think like an owner would and care for all aspects of airplane operation with the same dedication. Our renter pilots are interviewed and evaluated for an owner's approval by some of the best instructors in the business, check pilots who instruct at the Bonanza Pilot Proficiency Program, PIC Instrument Courses, and FAA Safety Seminars.
Contact Peter Conant for a free copy of our report: Renting versus Owning: Ten points to consider