Economists have a name for things that are in daily use despite having been designed multiple decades ago: persistent technology. Biplanes fit the definition, although pilots don’t call them that; they call them fun, an even mix of nostalgia and unique performance characteristics. That more than anything explains why biplanes have been in and out of production since the 1930s and the latest one to go into production is the Great Lakes 2T-1A-2, a modern revision of the classic biplane made famous by barnstormer Tex Rankin.
Waco Classic Aircraft, which builds the hulking Waco YMF-5, is pitching the Great Lakes as the perfect combination of sport aerobat and a trainer for upset recovery, which some pilot courses now require. At $245,250 complete, it’s not cheap, but as new airplanes go, it’s also hardly out of reach for buyers who can afford new and want something that’s more unique than practical, the market niche that Waco plies to sell up to eight YMF-5s a year at a price north of $400,000.