Flying racers (1 Viewer)
- Thread starter Dragracer
- Start date
Jim
Nitro Member
'Kinda hard to justify OWNING a jet in any but the rarest circumstances. Even big corporations having a tough time justifying ownership to their stockholders.....and as far as "Officer Perq" IRS treatment and personal reimbursement makes it LESS of an ego deal.
Thus, the growth of the BizJet interval ownership model.
Thus, the growth of the BizJet interval ownership model.
My wife used to fly to races as I drove the rig, saw pro stock's Johnson's and Coughlin's at the FBO many times. Think the Gray's commute that way too.
Airplanes bought right are not a terrible capital investment (they tend to mildly appreciate if you buy carefully (don't order a new one) and don't sell in a rush). Pilots are cheap (ours also executed his turnaround tasks well at the racetrack), but maintenance and fuel will catch your attention.
I've had as many nightmares about hot starting a turbine as I've had of my wife wrecking a racecar.
Airplanes bought right are not a terrible capital investment (they tend to mildly appreciate if you buy carefully (don't order a new one) and don't sell in a rush). Pilots are cheap (ours also executed his turnaround tasks well at the racetrack), but maintenance and fuel will catch your attention.
I've had as many nightmares about hot starting a turbine as I've had of my wife wrecking a racecar.
Yeah when the original warranty ran out on my glass cockpit they were quick to offer my what seemed like a very pricy service plan. Next annual, the primary flight display needed a "software update" to get the barometric pressure readout within spec. $4k for a software update .... swallowed that pill, and bought a 5 year maintenance agreement. While cheaper, some of the back up "steam" gauges provided challenges too. My old pilot flies commercial now... says the avionics in most of the planes he flies are light years behind what a newer private airplane has. Racing is not supporting avoiding the TSA lines and leaving when you are ready, its typically what's supporting your racing that is causing the airplane to make economic sense .... sold the airplane (not at a loss) last April as work and kids allow more time for those great cross country drives. Now places like charterhub.com provide for travel situations where commercial is not a necessary evil.
Here is a neat website for operating costs and performance of planes. The link is to an example of a smaller private jet. Single pilot required.
http://www.what2fly.com/operating_cost/embraer/phenom_100.php
I am working towards my pilot license right now for business purpose and my 5 year thinks planes are cool as hell too. As far as planes being a good investment, here is a good example. I am looking at a 1962 Piper Comanche 250. He is asking $60,000. Single owner, this is the guys baby. He lost his medical. It has a few add-ons, updated interior, 5 year old paint, plus auto pilot. I was reading an article about the Comanche, list price new was around $3000. That is not a typo.
About the same appreciation as my dads 64 Corvette. So not bad at all. It does cost $100/hour to operate so that is more than the Vette. Note the operating costs do not included insurance, in which will be pretty high until I get some hours.
http://www.what2fly.com/operating_cost/embraer/phenom_100.php
I am working towards my pilot license right now for business purpose and my 5 year thinks planes are cool as hell too. As far as planes being a good investment, here is a good example. I am looking at a 1962 Piper Comanche 250. He is asking $60,000. Single owner, this is the guys baby. He lost his medical. It has a few add-ons, updated interior, 5 year old paint, plus auto pilot. I was reading an article about the Comanche, list price new was around $3000. That is not a typo.
About the same appreciation as my dads 64 Corvette. So not bad at all. It does cost $100/hour to operate so that is more than the Vette. Note the operating costs do not included insurance, in which will be pretty high until I get some hours.
BaldyLochs
Nitro Member
I think Kalitta owns one. I'm in the business, so I can tell you, there's options besides actually buying a plane and undertaking all the associated expenses that you don't think of (Pilots, training, maintenance, technical publications, regulatory compliance, maintenance tracking, fuel, hangar rent, cleaning, catering, etc etc). When the aircraft is not being used for what's called "part 91" owner flights, it can also be chartered to other people.... whether you're the owner, or you're the one using or chartering someone elses' plane. There's are fractional programs, and a few good "Jet Card" programs out there, where you pay an operator or a broker upfront for a block of flight hours... like 500 hours, then you can use it in incriments throughout your contract period There's plus and minus for both. "Race planes" in particular are somewhat unique because of thier scheduling needs, which has to be coordinated with maintenance and inspections... so when it's not going from race to race, or base to race, it's hard to use a "race plane" as a good charter revenue-generater, in my opinion. The Jet Card programs allow you to book the plane when you need it, and most will even put your logo/brand items onboard, your uniform choices for the crew... I've even seen temporary decals applied insode and out to the customers needs... so it virtually looks like you own the plane - yet in reality all you're doing is paying for the flight time. Nobody realizes that you don't own the plane, the crew aren't your employees, etc. It's really cool. I guess it's no different than renting a Limo in essence. Back to racing - I can't believe any of the top shelf pro drivers/crew chiefs or key crew personnell would fly a commercial airline. The time savings itself from using a private plane is what it's all about.
