The Economics of DiamondShare

Stephen Pope

Thursday, February 14, 2013 at 07:20 PM ET

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The Diamond DA40 XLS I fly, in its hangar at KCDW.

Key Takeaways:

DiamondShare is a new aircraft ownership concept designed to make owning a Diamond DA40 more economically viable by allowing owners to lease blocks of hours to members.
Members pay a fixed monthly fee and deposit for a block of hours in a new aircraft, which covers most operating costs like maintenance, insurance, and hangar fees, simplifying personal budgeting.
The program offers significant advantages over traditional flying clubs or rentals, including access to a brand new, hangared aircraft with advanced avionics, included named insurance, and much easier scheduling with fewer partners.

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As many of you already know, I recently started flying a new Diamond DA40 XLS as one of the inaugural “members” to sign up with DiamondShare, a new concept in aircraft ownership that is seeking to dramatically alter the economic equation for buyers.

I first heard about DiamondShare last summer at the Oshkosh Airshow. My dad and I had been kicking the tires of some of the airplanes we liked, including the new diesel 182 at the Cessna exhibit, the sleek Icon Aircraft A5 sport amphibian, and one of my dad’s favorite airplanes, the Maule M-9-235 taildragger. Next, I suggested we head over to the Diamond Aircraft exhibit to have a look at the DA40, one of my favorites.