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Aircraft Build Project. Proposal to build a Club aircraft. Why?. Club membership is falling (slowly) Currently around 72 Desire to attract new members Preferably young(er ) Club’s primary focus is building Looking for something to attract Younger people

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Aircraft Build Project


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aircraft build project

Aircraft Build Project

Proposal to build a Club aircraft.

slide2
Why?
  • Club membership is falling (slowly)
    • Currently around 72
  • Desire to attract new members
    • Preferably young(er)
  • Club’s primary focus is building
  • Looking for something to attract
    • Younger people
    • Interested in building an aircraft
    • Not yet in position to build their own.
it will change the club
It will change the Club
  • If it works, membership will be
    • Bigger
    • Younger
  • The Club’s asset structure will change
    • Liquid assets from $53,000 to $8,000
    • Fixed assets from $45,000 to $90,000
    • (less during build – saleable value)
    • (more when complete – flying aircraft)
it will change the club1
It will change the Club
  • We will own an aircraft. Issues:
    • Managing it
    • Hangaring it (and losing commercial rent)
    • Renting it out
    • Maintaining it
    • Insuring it
financial risk
Financial risk
  • We can afford to do it
  • The Club’s assets will end up higher
  • New income flows will be generated
  • However, during the build phase…
    • Income will be reduced (bank interest)
    • Building costs will be incurred
    • Insurance costs will be incurred
  • Existing income flows won’t cover this.
project benefits
Project benefits
  • During the build phase, all working on it will gain experience
  • This is what our Club is about
  • When built, who will fly it?
    • Existing aircraft owners? Maybe once or twice
    • A handful of Club members don’t have access to an a/c. They may make more use of it
    • New members involved in building it. A few?
    • New members who just want to fly.
what could possibly go wrong
What could possibly go wrong?
  • It draws no new members.
    • Old members complete and sell aircraft. Club better off.
    • If not completed, sell as is. Club loses money but not enough to endanger it.
  • Build completed but not many fly it.
    • Club bleeds, and finally sells it.
  • Aircraft gets written off
    • Grab insurance money and bank it. Club OK