Question 1

Where can I buy an Aircraft?

Accepted Answer

The majority of aircraft are sold by Aircraft Brokers. A broker will typically sign an exclusive mandate with an aircraft owner, before actively marketing the aircraft for sale. An exclusive mandate only allows the aircraft to be sold by the broker who signed the agreement, for a pre-determined amount of time. Exclusive mandates are important, given the amount of time and money brokers have to invest in marketing an aircraft. Like estate agents with houses, brokers need to ensure they’re paid their commission once the aircraft sells!

Brokers usually have their own websites where they list their own aircraft for sale listings, however considering there are hundreds of aircraft broker websites worldwide, it’s easier to head to an Aircraft Sales Websites such as AvPay, as they list the majority of aircraft on the market. In cases where owners need to be discrete about their aircraft for sale, they may choose to sell “off-market” through a broker, who’ll use their network to try and source a buyer. This generally means the aircraft won’t appear on either the broker’s website or on Aircraft Sales Websites.

In addition to brokers, Charter Operators, Flying Schools and Management Companies occasionally sell aircraft. While some will list aircraft for sale on their website, the majority list theirs on Aircraft Sales Websites such as AvPay, in order to gain the best access to buyers.

Since they have close contact with the owners, pilots are often tasked with selling an aircraft on behalf of the owner. Sometimes the owners themselves will list aircraft for sale. In both cases, they’ll most likely use an Aircraft Sales Website such as AvPay, to get the most amount of visibility.

Question 2

How much does a new or used Aircraft cost?

Accepted Answer

The cost of an aircraft varies significantly, depending on a multitude of variables. With this in mind it’s always best to seek the advice of an Aircraft Broker when considering buying or selling an aircraft, as they have access to tools that help determine the value of an aircraft (such as Aircraft Bluebook and JetNet) as well as tools for calculating the expected operating costs of an aircraft (such as Conklin & de Decker). In addition to this they generally have the experience and network in place, to be able to deal with any issues you may encounter throughout the buying/selling process.

Factors that affect an aircraft’s value include:

Airframe
- When was the aircraft built?
- How many hours are on the airframe?
- Are there any programs on the airframe?
- What’s the condition of the airframe?
  - Has the aircraft been left out in the sun for long periods of time and does it require a re-paint?
  - Has the aircraft flown through adverse weather conditions such as hail and has this damaged the surface of the airframe? Aircraft require laminar flow to fly efficiently and any airframe deformations will have an impact on the aircraft’s performance. This can have a detrimental impact on the aircraft’s fuel burn, speed and range.
  - Does the aircraft have any damage history?
    - If the aircraft’s wingtip has been damaged in the hangar, has the damage been repaired by an approved organisation and is the paperwork in place, to prove the work was carried out correctly?
  - When is the aircraft next scheduled to be in for routine maintenance?
  - Is the aircraft’s logbook up to date? If an aircraft doesn’t have a complete logbook, how can you prove that maintenance work has been carried out correctly (if at all)? Missing logbooks can lower an aircraft’s value by as much as 25%.

Engine
- How long has it been since the engine had its last inspection and when is the next scheduled maintenance due? Different engines require different maintenance. Some piston engines only require an annual, while jet engines can require more detailed inspections at more regulated intervals. Specialist equipment may be required to carry-out certain inspections (such as borescopes for jet engine Hot Section Inspections), which will cost a lot more to complete and will therefore have a bigger impact on the aircraft’s asking price.
- Are the engines registered on any programs, to protect the future owner against any repair work?

Propeller
- What’s the condition of the propeller? While taxying on the ground, small aircraft pick-up stones and they damage propellers. There are limits as to how many chips there can be on a propeller, before maintenance is required. The position of the chips also determines whether remedial work is needed. Stones have a greater impact on wooden propellers as they can lead to water ingress, which can cause a propeller to warp.

Helicopter Rotor Blades
- Rotor blades time-out after a certain period of time and are expensive to replace. The number of years remaining on a rotor blade has a big impact on a helicopter’s market value

Interior
- What’s the condition of the interior? Have there been any upgrades to the interior, such as the installation of WiFi or SatCom? When was the interior last upgraded?

Avionics
- Has the aircraft had any upgrades since being built? Is the instrument panel analogue, or do you have a glass cockpit? Is the aircraft fitted with the right equipment to make it compliant for the intended use (is it equipped with ADS-B for charter operations etc.)?

Question 3

Do I need a licence to fly an Aircraft?

Accepted Answer

You do need to have a license to fly an aircraft. The type of license required depends on both the type of aircraft you’re flying and the type of work you’re doing. For example a Private Pilot License (PPL) holder can fly a Cessna 172, however they’d need a Commercial Pilot License (CPL) in order to be remunerated for flying the aircraft. Here are a few different flying qualifications you can train for:

Private Pilot License (PPL)
- This allows the holder to fly as pilot-in-command for recreational purposes. PPL holders cannot be remunerated for flying.
- To gain a PPL you need to have flown at least 45 hours and pass a series of ground examinations.
- PPL holders can add a Flying Instructor Rating to their listing of qualifications. Once added, they can get paid for instructing.
Light Aircraft Pilots License
- This permits the holder to fly small aircraft.
National Private Pilots License (NPPL)
- This allows the holder to either fly Simple Single Engine Aircraft (SSEA) or Microlights & Powered Parachutes (depending on which course you took)
Commercial Pilots License (CPL)
- This allows the holder to be paid for acting as the pilot in command of an aircraft. They can also act as and be paid for the position of co-pilot.
Air Transportation Pilots License (ATPL)
- This allows the holder to fly as part of a multi-crew aircraft, such as an airliner.
In addition to the various types of pilots license, depending on the aircraft you’re flying you may need additional training in the form of a type rating. This qualifies the pilot to fly on a specific type of complex aircraft. For example a pilot type-rated on the Airbus A320 series of aircraft will also be qualified to fly the A318, A319 and A320.

Question 4

Is it cheaper to fly your own Aircraft?

Accepted Answer

This ultimately depends on how often you’re planning to go flying. Private pilots can rent aircraft from Flying Clubs and Flying Schools and this generally involves paying a monthly subscription to the club or school, followed by a set hourly rate for however long you have the aircraft engine running. The hourly fee depends on whether you’re paying a wet rate (fuel included) or a dry rate (fuel not included). Engine hours are monitored by either a Hobb Meter (fixed wing) or by a Datcon (rotary).

Private flyers also have the option of joining an Aircraft Syndicate. This typically involves paying an upfront cost to become a member. Once a member you usually own a fraction of the aircraft, such as a 12^th or a 15^th share (depending on how many members are in the group). You’ll then usually pay a lower hourly rate to fly the aircraft, than you would with a Flying Club or Flying School.

On the charter-side of the market, if you’re flying over 100 hours per year in a charter aircraft, it may be cheaper to purchase your own aircraft. We recommend contacting an Aircraft Broker when considering purchasing an aircraft, as they’ll help you source an aircraft-type that’s best-suited to your mission profile.

Question 5

Are there different rules for owning an Aircraft in different countries?

Accepted Answer

Aircraft are bound by the aviation authority to which they’re registered and must be operated in accordance with the rules and regulations of the countries’ aviation authorities through which they fly. For example an aircraft may be registered with the United States’ registry (N-reg), but operated in the United Kingdom. Each registry has its own set of rules and each have their pros and cons. Some owners pick the aircraft registry for tax reasons. Popular aircraft registries that are well known for being tax efficient include the Isle of Man Registry (M-reg), the Guernsey Registry (2-reg) and the Aruba Registry (P4-reg).

Question 6

What do I need to know before buying an Aircraft?

Accepted Answer

Before purchasing your aircraft, you need to have a clear idea of what you’ll be using your aircraft for. For example if you’re purchasing an aircraft for recreational purposes to fly around your local area, you won’t need to worry about the aircraft’s range. If you’re buying an airplane to visit your offices 1,000 miles away, you need to ensure the aircraft you’re considering are able to reach your destination with enough fuel reserves to divert. What types of Maintenance Facilities are available at the airports you’ll be regularly visiting? Do they have the expertise to deal with your aircraft type? If not, should you be looking for a different aircraft model, to help avoid any Aircraft On Ground issues? Do the airports you’ll be visiting have the facilities to handle the aircraft you’re looking to buy, or is the one you’re considering bigger than what they can handle?

It’s also worth having some background-knowledge of the aircraft you’re considering buying, since you don’t want to end-up with an aircraft that’s likely to have issues further down the line. Some models are known for having corrosion issues once they hit a certain age for example. The best way to find a suitable aircraft that fits your requirements is to employ the services of an Aircraft Broker.

If the airports you’re flying to are relatively remote and aren’t surrounded by other airports, where is your nearest Maintenance, Repair and Overhaul Organisation, to deal with any Aircraft On Ground issues?

Question 7

Is it expensive to buy and maintain an Aircraft?

Accepted Answer

Buying and maintaining an aircraft can be expensive. Naturally the amount of money you spend on an aircraft depends on several factors, a few of which include:

The number of aircraft on the market. If there are very few of the aircraft you’re looking to buy on the market and they’re in high-demand, this will of course increase the asking price.
Upgrades – if the previous owner has invested heavily in interior and avionics upgrades, they’ll expect to get a better price. Sellers beware – just because you’ve spent a fortune on your aircraft, it doesn’t necessarily mean you’ll get the money back when you sell it!
Inspection status – if an aircraft has just completed its annual or 12 year inspection, you can expect this to be reflected in the asking price

When it comes to maintaining your aircraft, the price largely depends on how complex the aircraft is to maintain. Be mindful of where your nearest maintenance facility is located. While there may be a number of facilities at your home airfield, they might not always be equipped to carry-out scheduled maintenance on your aircraft, meaning you’ll have to relocate the aircraft each time work is required.

Question 8

What’s the best Aircraft to buy for a novice?

Accepted Answer

When building-up your flying experience, it’s best to start-off with something that’s stable and non-complex. Generally speaking most aircraft you typically see at the Flying Schools will fit the bill and for fixed wing flying schools you’ll frequently see models such as the Cessna 150, Cessna 152 and the Cessna 172. These aircraft are great to learn on – their high-wing design gives the pilot optimum visibility of the ground while aloft, making aerial navigation a lot easier. Other models such as the Piper PA28 are popular as the aircraft is very stable, thanks in-part to the aircraft’s stabilator. Until you have built-up some hours, it’s advised to avoid any aircraft that have volatile stalling characteristics, such as the Slingsby Firefly, as these aircraft can prove tricky to handle at slow speeds. On the rotary-front the Robinson R22 and the Guimbal Cabri G2 have been very popular with novice pilots. Their stable flying characteristics make them relatively easy aircraft to learn on and their small size make them relatively cheap to fly.

Question 9

Can I part exchange my current Aircraft for a new one?

Accepted Answer

Since most brokers usually act as the middlemen, facilitating the transaction on behalf of either the owner or the seller, part exchanging / trading an aircraft is a lot rarer than in the automotive industry for example. Unless you’re lucky enough to come across an owner who’s looking to swap with your aircraft, the only way to part-exchange an aircraft is by finding an Aircraft Broker that physically buys and sells aircraft. In Europe this is possible with Aviation Sales International based out of Germany and Wilco Aviation based in the UK.

Question 10

How do I pay for an Aircraft?

Accepted Answer

Once you have found the aircraft for sale you’re looking for, you can start looking at aircraft finance options. The lender will usually perform a background check on the aircraft to check there isn’t any pre-existing finance on the aircraft (a lien). Many lenders will then employ the services of an Aircraft Broker to appraise the aircraft and verify whether the amount being borrowed is proportionate to the value of the aircraft. They may then contact the facility that completed the aircraft’s pre-purchase inspection, to verify whether the aircraft is in an airworthy state. Once all of the paperwork has been completed, the funds will be transferred (sometimes through either an Escrow agent of through a broker).

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