Equity Shares - Frequently Asked Questions
Please find below, a selection of Frequently asked questions which relate to our equity aircraft groups. If your question isn't answered by these, please feel free to contact us and our friendly helpful staff will be pleased to assist with your enquiry.
Question: How does it all work?
Answer: When you first join our groups we sell you a 5% share in a specific aircraft. You then have full access to any of the aircraft in which you own shares at our published rates which gives you the ability to be flown around in them by suitably rated commercial pilots which we will provide.
Question: Who Flies The Aircraft?
Answer: Your ownership of the aircraft permits you to be flown around by properly qualified and suitably rated commercial pilots. These pilots are hired independently and arranged to be available as required by you.
Question: Are there any hidden costs?
Answer: None at all! All you ever have to worry about on the financial side of things is your initial purchase cost and your hourly rate for the aircraft, its fees and pilot. The only additional charges may be such things as landing fees and overnight parking if you land away. Our costs breakdown page details the expected costs of your operation.
Question: How long can you guarantee these costs for?
Answer: The hourly costs may fluctuate due to the fact that they are made up mainly of fuel costs, although we have a very robust pricing structure which prevents us from having to change the prices regularly. The bottom line is that because of the way we operate our finances we can avoid price fluctuations for much longer than normal charter operators. Our business was established to counter the rising cost of aircraft charter in order to provide cost price flying on your hourly rate and as such we will never be charging our members more than it costs to run your aircraft.
Question: Who can benefit from joining these groups?
Answer: Anyone who has the need for business or leisure travel on a fairly regular basis.
Question: How would the financial arrangements work i.e. direct debit or standing order?
Answer: Firstly you purchase a 5% beneficial share in whichever aircraft you choose. After this the flying costs are billed to you retrospectively at the end of each month and are payable within 14 days. The crew costs are also billed separately from the company which provides your pilots.
Question: Who is the actual owner and maintainer of the aircraft?
Answer: The aircraft is owned jointly by you, the other shareholders and Equity Air Charter. The company is responsible for all maintenance, parking fees, insurance and any other bills. This is all detailed in our contract which describes our obligations to you whilst you are an aircraft share owner.
Question: Will there be any restrictions on taking the aircraft away overnight, for several days or abroad?
Answer: There are no restrictions on the useage and you can take the aircraft away as often as you like. We use a uniquely designed internet booking system which was tailored to fit our group sizes and requirements perfectly and facilitates fair short term use and good long term (trip) availability.
Question: How would I apply for one of these shares?
Answer: Simple, just contact Equity Air Charter on the numbers supplied on our contacts page and we will answer any further questions you have before arranging to meet you, show you around our facilities, show you the aircraft and our contract and you can sign up right away if you're still interested.
Question: What happens if I want to leave the group?
Answer: When you sign up for an equity share we issue you with a contract which details such things as the cancellation procedure etc. Once you are happy with this we will provide you with 5% shares in the aircraft which entitles you to legally use it. If you decide to leave, the contract states that we have 6 months from the date of your written notice in which to buy back your shares at the rate which you paid for them so once all flying arrears and outstanding charges are paid you will receive your share value back in full sometime within the 6 month period of notice.
Question: How many members do you expect to be in the group?
Answer: Due to the nature of our business, we look to sell no more than 10X 5% shares in each aircraft and retain 50% for use with our charter operation. Charter use keeps the standing costs to you down to an absolute minimum enabling us to charge you no monthly amount to be in the group. The aircraft booking system provides for excellent flexibility across the fleet and we will accommodate your travel needs at the touch of a button on your computer or by telephone to Equity Air Charter if you prefer.