I recently attended a conference in Athens, GA, where we had the chance to meet with several pilots and hear their stories. My favorite part was when they told us their thoughts on flight financing. This was the second time I’ve had the opportunity to hear their stories.
You know, Ive always thought that flight financing was a bad deal. I remember hearing that pilots often had very good salaries. It just seems that money was involved and a lot of time was wasted on paperwork.
It’s true. There are a lot of things that can go wrong when trying to sell your plane to a prospective customer. I was recently talking to a friend who was trying to sell his plane to a prospective customer. He was trying to do it by having a bank make a loan of $25 million. The bank said he had to get the paperwork done in 36 hours or he wouldn’t be able to do it.
It is important to note that the money for the plane is not the real cost of the plane, which you can’t measure against the price of the plane. So pilots often had a lot of money invested in their planes and had to pay for insurance, fuel, and so on. The reason why a prospective customer would buy a plane is because they could fly the plane. Having a plane that can be used by the buyer is not the same as having it as a rental vehicle.
A lot of people who have taken to flight finance are actually on good form to know this. A lot of them have a very few years of flight experience, and they can get everything done without the help of a certified trainer. But most of them have no experience, and their advice is to get a trainer for the plane.
What if you think you can get a trainee pilot for $10,000 per ticket? What if you’re building a new plane, and you’ll be able to get it for $15,000? This is a huge question and you could probably get a trainee pilot a few bucks. But you won’t get a trainee pilot a plane for $25,000.
What if you are a pilot with no experience? You will probably fail. You will probably get it wrong and crash your plane. So, while you wont get a flight, you will probably get a crash. And if you crash your plane, you will probably die.
Well, unless you get into a plane accident and get a pilot’s license, that is. But if you are a pilot with no experience, you will be forced to get a flight because there are no pilots in the Atlanta area to take your place. And while a pilot with no experience will likely fail, a pilot with no flight will get killed. And if you crash your plane, you will probably die.
So yeah, you might want to make sure your plane is well-maintained and has at least a few years of flying experience. And if you don’t have experience, you probably wont be able to fly.
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