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November 24, 2018

Airplane rental site brings peer-to-peer model to private aviation

Press Release

Rent-A-Plane (beta)

Airplane rental site brings peer-to-peer model to private aviation

HOUSTON: A new airplane peer-to-peer rental website is aiming to bring the power of the sharing economy to the private aviation industry.

With the recent launch of Rent-A-Plane.com, founder and president Jim Weldon said he hopes to create a better way for owners to rent their aircraft to offset costs and for potential renters to find the ideal aircraft to meet their needs.

“Right now, owners have very few options when it comes to renting their plane – co-ownership, a leaseback situation, which takes a healthy percentage of any rental income are the only real options,” Weldon said.

“Each of these comes with its own set of problems. For example, with co-ownership you might have issues like scheduling conflicts, maintenance disagreements, and financial disputes are not uncommon.  Complications can arise when someone wants to sell their share of the aircraft” he explained.

“In a leaseback agreement, owners essentially lose control of their aircraft and find themselves having to schedule time like everyone else; they no longer enjoy the freedom that is such a big part of private aviation. And it’s the same way with maintenance. Owners lose control – except when it comes to footing the bills, which can run high due to the extreme value-killing wear and tear aircraft suffer when owners enter into leaseback agreements,” Weldon continued.

“Add to that, with a leaseback, owners typically get less than half the rental rate being charged, so owners don’t see the income they’re expecting. That’s a major advantage we have at Rent-A-Plane.com. Not only do our members maintain control over their aircraft, they keep most of their rental fee,” he said.

“We believe that our model based on the sharing economy hits that sweet spot between sole ownership and leasing back: when it suits you, you can rent your plane to good pilots who will pay a fair price for the privilege,” he said.

“The average airplane owner flies fewer than 100 hours a year, yet there are some pretty steep fixed costs that come with that ownership. Rent-A-Plane gives those owners a third way to offset their operating costs while still receiving the tax benefits of ownership and control over their aircraft,” he explained.

You can find more information about Rent-A-Plane.com on its website (https://www.rent-a-plane.com) and on the company’s Facebook page (https://www.facebook.com/rentaplanecom).

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For more information contact:

Rent-A-Plane.com
jim.weldon@rent-a-plane.com

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