Aircraft ownership is achievable but requires careful financial planning and a realistic understanding of all associated costs beyond the initial purchase price.
Prospective owners must first define their specific aircraft needs (e.g., intended use, passenger capacity) to determine the most suitable and affordable aircraft type, with single-engine models often being the most accessible.
The real cost of ownership encompasses the purchase price, financing, significant annual insurance premiums, and ongoing maintenance and operating expenses, which can amount to 10-15% of the aircraft's value each year.
Lenders evaluate affordability based on detailed financial records, debt-to-income ratio, and proof of ability to manage both loan payments and recurring operational costs, emphasizing the use of financial planning tools.
The dream of aircraft ownership is one that captivates many aviation enthusiasts.
While owning your own airplane might seem financially out of reach, it’s actually more attainable than you might think. The key is understanding what you can truly afford and making smart financial decisions that align with your flying goals.
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Bringing over 10 years of aviation experience and multiple years in finance, Keller Laseter combines both of those skills to be FLYING Finance’s CCO. His leading knowledge in all categories and classes of fixed wing aircraft helps guide you through the finance process with ease and will leave you knowing you’re in great hands. Keller holds type ratings in the Beechjet 400A/XP/NXT, Embraer E-175 and has many hours in King Airs, along with other high-performance aircraft. Throughout his career, he’s had the opportunity to enjoy the world of aviation and many different operations. As an ATP, CFI, and CFII, aviation is in his blood.
