The shared ownership market got a new entry recently when Atlanta (PDK) based Ascension Air launched its Cirrus shared ownership service. Ascension Air offers eighth shares in new Cirrus SR22s at remarkably competitive rates.
According to Ascension Air, pilots can get into a new airplane for around $10,000 down and a flat monthly fee of around $2,000. The $10,000 down figure is possible because the rest of the share price is financed. The purchaser, unlike in lease arrangements, gets full share ownership and the benefits that entails. There are also hourly costs, which the company says are essentially the cost of fuel, that are the owner’s responsibility. The monthly fee includes charts and data, insurance, aircraft storage, maintenance and Ascension’s “concierge” service.
Anscension Air is based at Atlanta’s Peachtree De Kalb Airport, though the company says that it intends to expand to new markets in the coming years.