9 Things to Know Before Purchasing Your Own Airplane

Posted on April 26, 2013 by admin

It would be safe to say that each of us have dreamed of owning an aircraft. Whether you are thinking big or small, if you plan on buying an aircraft, don’t end up regretting on your choice. Let these tips help you plan ahead and get the perfect aircraft that fits you.

Buy or Charter?

First, let’s take a look at the buy or rent dilemma. Though owning your own aircraft gives you flexibility and an unmatched experience over chartering one, there are instances where your best choice is to charter. Decide which is better considering factors such as expected usage and the financial impact.

New or Used?

A brand new airplane almost always means better performance and warranty coverage. Of course, new also means a higher price. There are a lot of used aircraft on the market that can meet a variety of needs, with a smaller price tag. Considering all factors in a well thought out mission comparison along with a price and cash flow analysis will help determine the correct path.

Purpose

Will the plane be used for business or for leisure? How often will you fly and for how long on each trip? How you plan to use the aircraft will answer a lot of questions, including the two questions above, as well as the aircraft type and model that you should consider.

Setting a Budget

Setting a budget and sticking to the budget is an effective way to ease the process. From there, search for the best aircraft you can find that’s within your price range. Having a budget set for your aircraft purchase, as well as its operation will help narrow the list of aircraft options and help ensure the aircraft will be successfully integrated into your financial picture.

Aircraft Speed

Does it matter how fast you will get to your destinations? For aircraft, better speed comes with a greater price. If it is a necessity, then consider it as factor.

Examine

Check your aircraft choices thoroughly. Once you have narrowed the choices down to a handful, it’s time to look at the aircraft. There are many items to inspect on an aircraft, including paint, maintenance records, aircraft logbooks, avionics, entertainment systems, interiors, and the list goes on.

Don’t fall for love at first sight. Getting fixated on a certain aircraft will may keep you from finding the best one to suit your needs. Search, collect, compare, and select.

Advice

Obviously, there is a lot to consider when choosing a private aviation option, including purchasing an aircraft. Seeking the advice of an experienced aviation advisor, like Keystone Aviation, will help you sort through many of the details, including budgets for various aircraft, the attributes of the aircraft on the market, inspections, etc…

Early Financing Approval

Getting the financing aspect ready early in the process will help determine what price range you are going to target. Having the financing done early will also allow you to concentrate on choosing the right aircraft and to make an offer immediately once you find the one.

Insurance

Aircraft insurance can be costly, but can save you lot of headaches down the road. There are a lot of resources over the web to learn more about aircraft insurance. Check with brokers for quotes that you think will work best for you.

Summary

Since all of these issues are important, we highly recommend your first call is to an established and reputable aircraft broker. Find one that is willing to talk to you at some length and without any fees up front. Then, if you feel comfortable, enter into an agreement to have the broker represent you. The contract is negotiable, but having sound, experienced advice should ultimately result in saving more than the broker is paid.

The Seven Largest Aircraft Ever Built

Posted on February 20, 2013 by admin

It’s been said that the first world war played a vital role in the advancement of aircraft technology because of the need for faster, tougher and, of course, bigger planes. Since then, a myriad of aircraft designs has come out to address more modern (and peaceful) needs—some even larger than the ones that came before it.

Let’s take a look at seven of the largest aircraft mankind has ever built.

Tupolev ANT-20 Maxim Gorky

Built in the 1930s, the ANT-20 was an eight-engine aircraft designed by Andrei Tupolev for the Soviet Union.

It was meant to be used for Stalinist propaganda so it was loaded with a powerful radio aptly named “Voice from the Sky”. It also carried printing machinery, radio stations, a library and a film projector with sound to play movies while in flight. You can only imagine how big the aircraft was to be able to carry all of these items.

The aircraft also featured a ladder that could fold and be part of the plane’s floor—a first in aviation history.

Hughes H-4 Hercules Spruce Goose

This heavy transport aircraft prototype was designed and produced by Hughes Aircraft to address the need for a plane that was large enough to carry a massive payload across the Atlantic and deliver personnel and materiel to Britain.

Due to wartime restrictions on aluminum usage, the H-4 was built virtually entirely out of birch—which makes you wonder why critics gave it “Spruce Goose” as a nickname.

It made its first and only flight in 1947. The project never progressed.

Messerschmitt Me 323 Gigant

First introduced in 1943, the Me 323 is the six-engine powered version of the Me 321 military glider. It was produced as an answer for Germany’s need for a massive assault aircraft that would also be able to carry vehicles and other heavy equipment.

The Me 323 was considered to be the largest land-based aircraft of its kind at the time

Myasishchev VM-T Atlant

Flown for the first time in 1981, the VM-T Atlant strategic airlift airplane was designed by the Soviet V. M. Myasishchev Experimental Design Bureau to address the issue of moving rockets and other massive spacecraft to the Baikonur Cosmodrome. It was a derivative of the M-4 Molot bomber produced by the same group.

It is interesting to note that while other carriers travel with their load inside the plane, the VM-T Atlant literally carries them on its back—even those that are heavier and more massive than itself.

Boeing B-29 Superfortress

This list wouldn’t be complete without the heavy bomber that became famous for restoring peace by ending World War II: the B-29 Superfortress. It was one of the more advanced aircraft of its time with handy features such as remote-controlled machine gun turrets, an electronic fire-control system and a pressurized cabin.

It was first flown in 1942 and was produced between 1943 and 1946. It was officially retired in June of 1960, over a decade after the war ended.

Lockheed C-5 Galaxy

This plane is a huge military transport aircraft with intercontinental-range and strategic airlift capabilities. It was produced by Lockheed and is still being used by the United States Air Force (USAF) to move outsize and oversize cargo today.

It was first flown in 1968 and has been in the service of the USAF since 1969. It has seen its fair share of action in the battlefield, but has also been used for disaster relief and humanitarian aid throughout the years.

Antonov An-225 Mriya

Let’s cap this list off with arguably the biggest aircraft ever created: the six-engine An-225. It’s so big that some claim you could fit at least two full-sized aircraft museums in it. It was designed in the 1980s by the Antonov Design Bureau as a bigger version of the highly successful An-124 Ruslan.

It was originally built to carry the boosters of the The Buran Space Shuttle and the boosters of the Energia Rocket for the Soviet space program.

A second An-225 was built after the first one was completed in 1988. Unfortunately, the second plane was never completed. So, there is technically just one functional An-225 in the world today.

References:

Which aircraft is right for you?

Posted on December 28, 2011 by Keystone Aviation

So, you have thought about it long enough. You’re tired of taking three days to accomplish what could be done in one. Perhaps you have had enough of long lines and pat downs. Maybe you’ve chartered or flown on a friend’s aircraft a time or two and realized the cost-benefit analysis makes sense. Whatever your reason, you have decided it’s time to purchase your own aircraft. With that big decision made, now comes that task of deciding which aircraft is right for you.

As with most decisions in life, there are tradeoffs, and deciding which aircraft to purchase is no exception. The four main forces acting on an aircraft – thrust, lift, drag and gravity – are the cause of most aircraft acquisition tradeoffs. More thrust means higher speed, but more cost. More lift means shorter runways are accessible, but slower cruise speeds. Larger, heavier aircraft mean more cabin comfort and capability, but need more lift and thrust which, in turn, correlates to more cost.

Acquisition Budget. The most logical place to start is to set the acquisition budget. How much can I afford? It is important to remember that an aircraft is a tool to help facilitate the growth of your business and simplify your life. Letting ego creep into the budget decision can lead to acquiring more aircraft than needed, and can lead to a less than ideal ownership experience.

Operating Costs. Just as important as how much can I afford to acquire the aircraft, is how much can I afford for direct operating cost of the aircraft? Typically, the older the airframe and engines, the higher the direct operating costs. This is due to more maintenance being required on the airframe, as well as the less efficient engines on older aircraft. As aircraft age, particularly beyond ten years, their values decline, but direct operating costs increase. An extreme example of this is in the large cabin Gulfstream G-II market. While this 1970s vintage aircraft can be purchased for nearly give away prices of $400K and below, it will cost upwards of $7,000 per hour to operate.

Cabin. Generally, the larger the cabin, the higher the acquisition and operating costs. Some features of the aircraft cabin to consider:

Number of Seats. The average passenger load for a business jet trip is approximately 2.5 people. Do you really need 12 seats for that annual trip to Hawaii? You can buy a lot of first class seats to the islands with the millions you will save in purchasing a midsize instead of a large cabin aircraft.
Cabin Size. Standup cabins are comfortable, but the bigger the cabin, the bigger the direct operating costs.
Lavatory. Some light aircraft have limited lavatory facilities with a curtain for a barrier or have no lav at all. How long do you plan on being in the air?
Baggage Volume. Storage space comes at a premium in an aircraft. Do you need the capability to load golf bags or skis? Some mid and light aircraft have baggage compartments loadable only from the interior, while others have larger exterior baggage space in the nose and tail of the aircraft.

Range. Longer range capability means larger aircraft which means higher acquisition and operating costs. What are your common destinations? How many times per year do you travel to these destinations? Do you need to go non-stop or will a stop along the way be acceptable? The 80/20 rule applies to range. Purchase an aircraft that will satisfy 80% of your needs – for all other occasions, you can make a fuel stop, charter a larger aircraft or book a first class ticket for the other 20% of your destinations.

Speed. One of the first questions many aircraft buyers will ask is “how fast does it go?” Most midsize and large cabin aircraft have cruise speeds that are not dramatically different. Light jets will have more variation in speed capabilities. With the average business jet leg being 600 miles, the difference in speed from one model to the next often results in only a few minutes difference in travel time.

Service Ceiling. Most business jets are capable of flying as high or higher than the airlines enabling them to fly over most weather. If considering a turboprop aircraft, know they fly at lower altitudes which will occasionally result in the need to circumvent poor weather.

Runway Performance. It is important to know the runway length at the airports you frequently use. Larger aircraft typically require more runway for takeoff and landing. The lighter the aircraft, the less runway needed. However, often less fuel is loaded on board in order to meet limited runway lengths, which results in fuel stops.

Payload. Most aircraft are not capable of filling the fuel tanks and filling the seats at the same time. While filling the tanks is not required on many flights, it is important to know the limitation of how much an aircraft can carry with full fuel.

One or Two Pilots. Most turboprop aircraft and many newer light jets are certified to be operated with a single pilot. Operating with a single pilot can reduce costs, increase payload capability and open up an extra seat for passengers. Having two pilots can add to the safety of operations due to the reduction in pilot flying work load, more eyes outside the cockpit and redundancy in case of health issues.

There is no one aircraft that will satisfy 100% of a buyer’s needs. Sorting through tradeoffs in performance, features and costs can be daunting, not to mention the complexities of the overall acquisition process. Particularly for first time aircraft buyers, taking a conservative approach to aircraft selection and assessing real needs is wise. Getting professional guidance from an experienced aircraft broker is paramount to making the right aircraft selection, as well as to a successful acquisition.

By Michael Parker © December, 2011. Mr. Parker is vice president aircraft sales at Keystone Aviation, based in Salt Lake City, Utah and has brokered and professionally flown business aircraft for over 14 years.

DISCLAIMER: Statements and opinions expressed in this article are those of the authors, editors and publishers. While care has been taken in the compilation of this article to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. Keystone Aviation will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article.

Aircraft Pre-Purchase Inspections

Posted on December 13, 2011 by Keystone Aviation

Involving maintenance experts in an aircraft acquisition is time and money well spent!

One of the most exciting days in a person’s life is the day he or she purchases an aircraft. While this can be an exciting time, it also can be filled with pitfalls and challenges. For this article, we will look at the maintenance issues that need to be examined during the aircraft acquisition process.

When buying an aircraft, it is important to have a qualified, neutral technician or organization do a proper pre-purchase evaluation of the prospective aircraft. When Keystone Aviation purchases an aircraft for a client, we recommend just that. We also recommend doing a one or more of the manufacturer’s larger inspection(s) as part of the evaluation – this allows you to get more value for your dollar as you will have accomplished maintenance work that would have been required later.

Reasons to consult a qualified maintenance expert with your aircraft acquisition, include:

Purchasing an aircraft without the benefit of an experienced airframe and powerplant mechanic can lead to big expenses and unsafe conditions right away or even later on.
An aircraft is a piece of machinery that can operate in diverse and extreme conditions. This operating environment places many different types of stress on the equipment.
The Federal Aviation Administration regulations require that the aircraft must be maintained to an “Airworthy” condition. This airworthy assessment may be accomplished by many different mechanics with different skill levels and standards for determining airworthiness.
In the past, we have seen individuals buying aircraft without the benefit of a quality pre-purchase evaluation and it almost always has led to a disappointing ownership experience, resulting in more downtime and more maintenance costs.
Many potential buyers are attracted to an aircraft that has new paint and interior because “it looks good.” These “cosmetic overhauls” could be hiding a host of problems that only a trained eye could spot. Paint can hide a multitude of problems, i.e. corrosion, damage, or poor repair workmanship.

Some of the areas that you want to have a maintenance expert look at are:

Aircraft records, (logbooks, etc.) – are they complete and accurate?
Aircraft damage history – has the aircraft been involved in an accident?
Airworthiness Directive (AD) status – are all applicable AD’s complied with and signed off properly?
Maintenance status – are all inspection requirements up to date?
Engine condition and history – is the engine performing as it should?
System operations – are they functioning normally?
Modifications and proper recording of the modifications – are all FAA form 337s, STCs accounted for?
Corrosion damage – where has the aircraft lived? Is there hidden corrosion?
Another important part of a pre-purchase evaluation is the acceptance flight. How does the aircraft handle? Does it seem to be in rig? Does it taxi OK? Do the gauges all agree with each other? Are there any excessive vibrations or flutters?

Tips for your pre-purchase evaluation:

When performing these evaluations always prepare and use a checklist so as not to forget any of the items that you want looked at.

Always start the pre-purchase evaluation with clear and well-defined parameters so that everyone involved (the buyer, seller and evaluator) are working from the same page.

In the end, a well performed evaluation can make the aircraft buying experience much easier and ownership more cost effective.

_____________________

By Bill Hoddenbach, © December, 2011. Mr. Hoddenbach currently serves as Director of Maintenance for Keystone Aviation and has over twenty years of aircraft maintenance experience ranging from small piston to large commercial jet and rotorcraft aircraft. He holds an A&P Technician certificate and is a Private Pilot rated in both fixed-wing and rotorcraft aircraft. Mr. Hoddenbach has served as Vice-Chairman of NATA’s Maintenance Systems and Technology Committee. Please send questions of comments to: bhoddenbach@maslc.com

DISCLAIMER: Statements and opinions expressed in this article are those of the authors, editors and publishers. While care has been taken in the compilation of this article to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. Keystone Aviation will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article.

To Buy or To Charter…That is the Question

Posted on September 30, 2011 by Keystone Aviation

More and more businesses and individuals are realizing the efficiency and productivity benefits of private business aviation. But what method of private aviation would best fit your needs or the specific needs of your company; purchasing an aircraft or chartering one? The differences between ownership and chartering can be compared using the following questions:

How many hours are you estimating to fly per year?
What type of missions will be flown?
What will the average passenger count be on the aircraft?

The answers to these questions should be tailored to fit specific situations and needs, regardless of whether you are considering personal or business travel.

Whole Aircraft Ownership:

With whole aircraft ownership, you have complete control over the plane and crew. You know where the plane has flown, who has been on it, how many hours it has logged and when it was last inspected. As the owner, you have control over whom you hire to fly the plane and what their experience level is in that particular type of aircraft. The plane can be equipped the way you wish, to your specifications and you can be certain that the aircraft is maintained to your personal standards.Advantages of whole aircraft ownership include:

Complete flexibility on scheduling, including usage on an ad-hoc, short-notice basis
Tax benefits associated with depreciation
Reduced operating costs, through generation of charter revenue (if you have elected to put the aircraft on a charter certificate)
Opportunities for appreciation in the value of the aircraft
Variable operating costs can be defrayed by making the plane available for charter to third parties (Doing so will not reduce flexibility or trip planning)
YOUR AIRPLANE, YOUR SCHEDULE!

Disadvantages of whole aircraft ownership include:

Large capital outlay
Cost inefficiencies for low utilization owners (usually fewer than 300 flight-hours per year)
Inflexibility on aircraft size/type
Requires personal supervision
Risk of market value fluctuations

Aircraft Charter:

Aircraft charter is attractive to individuals that frequently travel on short notice, must visit multiple locations within a short time frame, or for individuals who travel to areas that lack adequate commercial airline service. When you charter an aircraft, you have neither the responsibilities of aircraft ownership, nor the limitations on the size of aircraft available for your trip. You select the exact airplane you need for each trip, whether you have 4 or 20 people traveling. The price of your aircraft charter is going to vary depending on aircraft performance, size, passenger capacity and the duration of your flight.

Advantages of Aircraft Charter:

Flexibility in the choice of aircraft to best fit your trip
No large capital outlay
Avoid the risk of market value fluctuations

Disadvantages of Aircraft Charter:

Aircraft availability may be limited, especially for short-notice trips
Not as effective for one-way travel or long layovers
Personalized service varies from charter company to charter company

*Your charter experience should be professional, personal and productive*

Aircraft ownership and aircraft charter offer you and your business a unique opportunity to maximize your time, efficiency and productivity, while giving you the freedom to enjoy the things that matter most to you.

By Marie B. Palicia © September 2011. Ms. Palicia has worked in the aviation industry since 2006. She currently holds a position in the aircraft sales department at Keystone Aviation.

DISCLAIMER: Statements and opinions expressed in this article are those of the authors, editors and publishers. While care has been taken in the compilation of this article to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. Keystone Aviation will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article.

Keystone Aviation Blog

Category Archives: Aircraft Sales & Brokerage

9 Things to Know Before Purchasing Your Own Airplane

The Seven Largest Aircraft Ever Built

Which aircraft is right for you?

Aircraft Pre-Purchase Inspections

To Buy or To Charter…That is the Question