In a leaseback to local FBO or flying club situation, I have some questions.
- who pays for the insurance of the plane?
- I assume it should be the club. If it's the FBO/club, does the owner still require to carry additional insurance?
- Can an A&P/IA qualified owner still do the maintenance on his plane while it is on leaseback?
- So basically the FBO/Club is just keeping the plane in their pool, scheduling it and charging for it at some agreed commission rates. Owner manages the routine as well as needed inspections/repairs.
Just trying to figure out how the whole arrangement works and whether it's better to leaseback or to create a group of people to share plane instead and pay dry hourly rental.
- who pays for the insurance of the plane?
- I assume it should be the club. If it's the FBO/club, does the owner still require to carry additional insurance?
- Can an A&P/IA qualified owner still do the maintenance on his plane while it is on leaseback?
- So basically the FBO/Club is just keeping the plane in their pool, scheduling it and charging for it at some agreed commission rates. Owner manages the routine as well as needed inspections/repairs.
Just trying to figure out how the whole arrangement works and whether it's better to leaseback or to create a group of people to share plane instead and pay dry hourly rental.
