This is the reboot of Rent-A-Plane, which was officially launched November 1st, 2018. Based on user feedback, the new site is still an experiment in the idea of Peer-to-Peer Aircraft Rental. Our hope is to create a better way for owners to reduce the cost of ownership and unlock under-utilized aircraft for pilot renters.
Currently, owners have very few options when it comes to renting their plane – co-ownership or a leaseback arraignment is really the only options. 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. And complications can arise when someone wants to sell their share of the aircraft.
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. 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. The loss of control is the same way with maintenance – except when it comes to footing the bills, which can run high due to the value-killing wear and tear aircraft suffer when owners enter into leaseback agreements.
Our aim is to develop a new way for owners to rent their aircraft and remain in full control of who is renting it and when it is available for rent. It’s a great way for an owner to rent their aircraft occasionally to recoup some of their operating costs. The Peer-to-Peer rental model has been successful in other vertical markets for boats and RV’s, but it still remains to be seen if it will work for aircraft. Private aircraft are the most under used assets out there. The average plane is flown less than 100 hours per year by it’s owner. So there is a need for a better way of accessing aircraft that are under-used and sitting around collecting dust.
Your feedback is important, so don’t hesitate to contact us with any suggestions and ideas you might have to help improve this website and business model. Be sure to visit the Facebook page. Thank you!
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