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iFlys Club Approach: Cheaper, But Not Cheap

Owning an airplane isn't what it used to be. Or should we say, operating one isn't. Given the cost of avgas, sole ownership looks less appealing than it once did and multiple-owner partnerships and fractionals look more attractive than ever. So do flying clubs, which split ownership among many and further reduce individual costs.But the problem with flying clubs is similar to renting. The airplanes probably arent the newest and pilots who own a tenth or a twentieth of an airplane arent likely to have much pride of ownership and the clubs airplanes may reflect that. But what about combining the fractional idea with the economics of a club? Thats the idea behind iFly, which launched a little over a year ago. iFly is basically an exclusive flying club that asks what fractionals ask: What if you could have all the benefits of ownership, but none of the hassles?

Aviation Consumer Staff
Verified

Owning

an airplane isn’t what it used to be. Or should we say, operating one isn’t. Given the cost of avgas, sole ownership looks less appealing than it once did and multiple-owner partnerships and fractionals look more attractive than ever. So do flying clubs, which split ownership among many and further reduce individual costs. But the problem with flying clubs is similar to renting. The airplanes probably arent the newest and pilots who own a tenth or a twentieth of an airplane arent likely to have much pride of ownership and the clubs airplanes may reflect that. But what about combining the fractional idea with the economics of a club? Thats the idea behind iFly, which launched a little over a year ago. iFly is basically an

iFly

exclusive flying club that asks what fractionals ask: What if you could have all the benefits of ownership, but none of the hassles?

A unique approach by the people at iFly matches aircraft with members, which is to say that at no time during a five-year membership will the ratio of members to aircraft be greater than four to one. And the aircraft will always be a Columbia 350, although not necessarily the same one.

Fractional Economics

The iFly idea builds on what fractional owners and operators have always understood: The real variables are your interest in flying versus your interest in the joys/nuisances of owning and the interest (or enjoyment) you might derive from your money if its not wrapped up in an airplane.

Like a conventional fractional, you buy into iFly on a share basis, but youre not buying a share of a specific airplane or even a share of a fleet, but shared access. Here are the numbers: The flat buy-in membership fee is $39,900, monthly dues are $1795 and hourly fees are $70 (dry) for access to new Columbia 350s. There are no extra fees for avionics subscriptions, reserves or insurance.

The $39,900 buy-in has a five-year duration and is a wasting asset. When the five years runs out, the member can re-up or walk away with no material possessions to show for it. (Traditional fractionals depreciate the buy-in share and pay the owner back some portion of his original investment.) During the five-year period, the member can opt out at any time and as long as he or she provides several months notice, a pro-rated refund will follow.

It bears repeating that membership does not buy you a share in an aircraft, it buys you access to a fleet. Currently, iFly is slated to populate Van Nuys, Santa Monica, Torrance, Long Beach and Orange County airports in the Los Angeles area and Carlsbad in northern San Diego.

Any aircraft can be moved by iFly between any of the six airports as warranted by demand. In other words, if each of three members at Santa Monica want to fly on the same weekend and only one aircraft is based there, iFly will relocate other identically equipped Columbia 350s from neighboring airports as available to meet the demand.

As with other fractionals, iFly members have everything taken care of for them-no

Aviation Consumer Staff