Owning a leaseback airplane is a great way to fly for free. You purchase the airplane, (with our assistance if you’d like *see “Aircraft Purchase Assistance” services below), you pay for all costs of operation; we rent the airplane to our students and renters, coordinate the maintenance with Bill’s Air Center and we write you a check for each month’s “net rental fees” (net of operating costs).
Costs of operation, which are netted out of monthly aircraft owner payments include fuel, oil, our hourly management fee, aircraft cleaning, tie-down (parking) fees, and aircraft liability insurance. Aircraft maintenance performed by Bill’s Air Center (the maintenance shop that we work with and have an excellent relationship with) is paid directly to them.
The most popular leaseback aircraft on our flight line, and therefore the most rented and successful aircraft from an owner’s perspective is the Cessna Skyhawk 172S/172SP. Either the analogue gauge or G1000 (with WAAS).
Individuals who are interested in leasing back an aircraft to the flight school should review the ownership information packet of documents via the link below, then fill out the contact form to schedule an hour with the General Manager, Joseph Vazquez Miller. The ownership packet includes:
* Aircraft Purchase Assistance:We offer “aircraft purchase assistance” services to help you in the purchase of your airplane. Purchasing an airplane can be complex and daunting. Since we have purchased several aircraft over the years we can be a good advocate/guide for purchasing your airplane from helping look for the right airplane, asking the right questions of the existing owner, looking for specific issues, negotiating the purchase price, helping you put together a purchase agreement, setting up an escrow account and verifying clear title, arranging a pre-buy inspection, performing an inspection flight and ferrying the airplane back to Santa Monica.
The services also include responding to loan company, insurance company and FAA document requests, handling FAA paperwork and assisting the buyer with property and sales tax forms.
These tasks may sound overwhelming but by engaging our Aircraft Purchase Assistance Services we walk you through everything. The link above also contains our “Aircraft Purchase Assistance Agreement” which spells out the terms of those services.
3165 Donald Douglas Loop SouthSanta Monica Municipal Airport (SMO)Santa Monica, CA 90405