The Economics of Owning a Small Plane - CTI Professional Flight Training (2024)

FAQs

The Economics of Owning a Small Plane - CTI Professional Flight Training? ›

An ultralight aircraft can usually be purchased new for an average range of $8000 to $15,000. Single-engine planes will typically cost between $15,000 and $100,000.

An ultralight aircraft can usually be purchased new for an average range of $8000 to $15,000. Single-engine planes will typically cost between $15,000 and $100,000.

If you ask your CFI to teach you in a new-to-you airplane you have purchased, expect the CFI to go through the aircraft's logbooks. A good CFI can turn this into a ground lesson, as you'll need to know what inspections to look for, ADs [airworthiness directives], etc.

The FAA requires 40 hours of actual flight training in order to earn a private pilot license. This includes day and night flying, cross-country, and other types of flight training requirements, such as various maneuvers.

The annual inspection is one of the most significant cost drivers for Cessna 172 owners. Because one needs an A&P/IA, the labor cost is a tick higher than standard maintenance. Based on my experience, you can expect to spend around $1,700.00 for the inspection.

Based on 450 annual owner-operated hours and $6.75-per-gallon fuel cost, the CESSNA 172R has total variable costs of $58,275.00, total fixed costs of $82,950.00, and an annual budget of $141,225.00.

Cost is a big deal-breaker for most travelers, so we'll address it first. Flying commercial hands down offers the lowest costs when purchasing coach or standard seat tickets. The cost of flying commercial is also lower in first or business class if flying alone or in a group of two.

Whatever your reasoning, you need to understand that training to be a CFI is an extremely long, hard road. It takes a substantial amount of time, costs a fair amount, and is not easy, even if you find it enjoyable. Let us take a look at all the issues involved.

Pros & Cons of Being a CFI

You can earn money flying airplanes by starting out as an instructor. Becoming a CFI can be the first step in becoming an airline pilot. You can fly for free. As a CFI, you get to fly for free if you are flying with paying students.

Being a CFI is not a requirement for the airlines, never was never will be. That said while there are other routes being a CFI is by far the most common.

Can you make a living as a small plane pilot? ›

A common misconception is that you can't make a living with a private pilot license, which is hardly true. Although the FAA is strict on flying for hire or compensation, you can earn a pretty penny as a private pilot. You can also leverage your flying experience to help people in need or distress.

The answer is no. While some airlines have an age requirement before you can fly a commercial flight, there's no age limit in wanting to become a pilot. Many think that at age 40, they have missed their opportunity to become a pilot.

That's why Cessna's Special Inspection Documents now put a life limit on the Cessna 172 airframe (and a few other single-engine models, as well) of 30,000 hours.

Prices of a Cessna 172 made in 1986, the last year of production before an 11-year hiatus, are continuing to depreciate. Those made in 1997 or later have at least bounced off the bottom and are holding steady.

A Cessna 172 Skyhawk has a range of about 800 miles on a full tank of fuel; that's about the same distance from New York City to Detroit (in Michigan), Columbus (in Ohio), or Windsor (in Ontario, Canada).

The Bottom Line. Many costs factor into the economics of small aircraft ownership. On average, a $75,000 financed Cessna winds up costing $200 per hour, if flown 100 hours per year, with $80 going toward fuel, oil and maintenance. Similar aircraft may be rented for about $125 per hour.

The average price of a Cessna 172 for sale on GlobalAir.com is $120,000. In the past 30 days, the price has ranged from as low as $90,000 and as high as $150,000. The average total time for a Cessna 172 that is for sale is 6,420 hrs.

With conventional landing gear, where center of gravity is behind the main wheels, a plane can be pushed even more crooked upon an imperfect landing. Engineered with the perfect balance of stability and speed yet not overly sensitive, the Cessna 172 is easy for beginners and flight school students to control.

The most important factor is how often you will be flying per month. Usually, aircraft owners stick with the 100-hour rule. If you see yourself flying for at minimum 100 hours per year then it makes sense to own an aircraft. Anything less, you are probably looking at diminishing returns for your investment.

Is flying an expensive hobby? ›

Flying is a rare hobby and compared to football or hiking, it will not come cheap. Regardless, it must be understood that there are ways to make flying more accessible so that more people can enjoy it.

Buying a plane comes with big expenses. Everything including taxes, insurance, detailing, maintenance and hangar fees can add up to huge monthly bills. Keep your costs down by renting.

In 2021, FAA data showed that 78% of all PPL pilots passed on their first attempt. In that same year, 79.5% of pilots passed their commercial pilot checkride, and the pass rate for CFI checkrides was 77.9%.

One of the most challenging parts about becoming an instructor is finding a way to explain a maneuver step-by-step. As an experienced pilot, it's easy to forget how you developed stick-and-rudder skills. With new students, make sure you're using exterior visual cues, and not over-focusing on co*ckpit instrumentation.

Students who are dedicated to completing their CFI course can complete it within a 6-week period. Part-time students typically take 12 weeks to finish their CFI course (depending on their circ*mstances) based on an estimated 3 activities per week.

While there is no specific time requirement to become a flight instructor, all flight instructors must obtain at least a commercial pilot license as part of their eligibility requirements.

8 hours of flight instruction given in a 24-hour period is the legal limit. The instructor can do unlimited ground instruction or flying for his own purposes in addition to that.

Hours: The average flight instructor spends 80 hours per month, but can spend up to 100 hours in flight with another 100 hours of ground instruction per month.

How many hours do Flight Instructors fly each month? On average, full-time CFIs fly about 80 to 100 hours per month. Though our top performing instructors can easily get 120 hours in a month. I addition you flight instructors also do an additional 100 hours of classroom and flight simulator instructions.

Where is the best place to be a CFI? ›

The average Delta Airlines pilot earns $192,000 with top-earners making $526,000. American Airlines pilots earn an average salary of $118,000, with some pilots earning in excess of $700,000.

In the U.S., there are no FAA age limits for pilots except for commercial airline pilots employed by airlines certificated under 14 CFR Part 121. These airlines cannot employ pilots after they reach the age of 65.

A sport pilot is the easiest and least restrictive certificate a student can obtain. It's meant for those pilots who wish to fly in light aircraft only, at low altitudes in their local area.

18-24 Months Old. Things continue to be a bit of a challenge in the older toddler age range. I've noticed that girls sometimes start turning a corner, but boys often lag a few months behind, so this can be a more challenging age than the 12-18 month stage depending on your child and their development.

Experienced traveling families already know this, but in most cases the hardest time to travel with a child is from when they become squirmy and mobile by about 9 months old until they hit the age of reason bargaining/cartooning/snacking at about 18 months.

New legislation may push the mandatory retirement age for U.S. pilots two years later, to age 67. As part of its process to reauthorize the Federal Aviation Administration this year, Congress is considering legislation that would push back the mandatory retirement age for America's commercial pilots, from 65 to 67.

That time as a CFI can vary but most people get their total 1500 hours in 12-15 months as a CFI. A CFI license is probably going to cost another $6,500 to $7,000. Our lenders may lend you all the money to get all of these licenses.

All flight students will experience some stress during flight training. There are certain times when you will be required to push yourself outside your comfort zone and prove what you can do. Everyone is stressed and excited during their first solo flight.

The only caveat to obtaining your pilot's license is whether or not you can pass the FAA medical exam. This medical exam determines whether you're physically and mentally fit to fly an airplane or helicopter. If you're able to pass this exam, then your age won't stop you from becoming a pilot.

Is it expensive to own a private plane? ›

A private jet can cost anywhere from $2 million to over $100 million. Ongoing expenses may include flight crew salaries and expenses, the costs of routine maintenance and unforeseen repairs, hangar rental, and aircraft insurance.

Upfront Costs of Owning a Small Plane

The first thing to consider is what kind of plan you want to buy. The type of plan you buy will dramatically affect your upfront costs. Ultralight Aircrafts – Single-seat, single-engine recreational planes. These planes can be purchased new for anywhere between $8,000 to $15,000.

Aircraft ownership is an excellent investment for those who find themselves on a plane quite regularly, and even more so – if you have an aversion towards the daunting customs, baggage lines, and commercial airline procedures.

Aircraft Owners And Pilots Association pays an average salary of $2,992,009 and salaries range from a low of $2,589,579 to a high of $3,483,474.

Owning an Aircraft is Expensive

And then there's the cost of maintenance, inspections, storage, and fuel. Depending on the type of plane that you own, ownership can cost up to tens of thousands per year when you factor in everything that we've mentioned.

Full private jet owners have a median net worth of $190 million while fractional jet owners have a median net worth of $140 million, the report says, citing data from Credit Suisse and Wealth-X.

What is the cheapest way to fly private? The cheapest way to fly private is to book semi-private flights using the "pay by the seat" model. With companies such as JSX, Tradewinds Aviation, and Surf Air, you can get a private jet-like experience for just a couple hundred dollars!

According to estimates on the cost of private jet maintenance, most jet owners end up shelling out between $500,000 up to $1,000,000 each year on ongoing expenses related to maintenance, storage, repairs, insurance, fuel and more.

Not only can you fly to any of the 50 U.S. states with a private pilot license, but also Canada, Mexico and the rest of the world. As long as you follow flight requirements, produce the right documents and follow local customs regulations, you can fly anywhere you desire.

On the one hand, this is due to the shorter distance to the destination, but also due to saving long waiting times at check-in or at the security check at major airports. However, our customers often ask us “Can private planes still land at major airports?” The answer is yes!

Is A Cessna 172 a good investment? ›

Cessna 172s and Cherokee 140s are good resale products. Even Cessna 150s and 152s are good products. It's a numbers thing; there are lot of these aircraft on the market and they don't appreciate or depreciate as quickly as a few of the other models. Large numbers also make it easier to get parts and modifications.

Airlines get an average of just under $189 of revenue for each passenger they fly, which include the base fare, ancillaries such as bag fees, fuel surcharges, and revenue for any cargo carried.

The award of the most profitable airline in the world goes to none other than Delta Airlines.