People have other personal reasons to join a flying club, aside the normal benefits they offer. While some flying clubs acquire and rent aircrafts, others give you access to specialized aircrafts like vintage airplanes. The Aircraft Type Clubs is an example of clubs who are dedicated to offering information and support to one particular family of aircraft. Such clubs might be a little bit exorbitant and only people with previous flying experience might want to consider joining them. Only clubs that provide instructors are recommended for novice flyers.
Equity or Non-equity, are the two types of ownership structure flying clubs operates with and acquiring an aircraft is dependent on which one a club chooses. The one a club chooses determines what the club’s finances will look like, so understanding a club’s financial structure before joining them is very important.
Equity Flying Clubs
In an equity flying club, all the shares of the club’s aircrafts are distributed equally among members. The members only get to pay both monthly dues, and an hourly rate for using the clubs airplanes. Before joining the club, members are to buy a share which they can sell to a new member or to the club whenever they decide to leave the club.
Non-equity Flying Clubs
In a non-equity flying clubs, the members do not own a share of the aircraft. If a club is eventually dissolved, members do not have any financial rights or even get any portion of the assets. As an entity, they either lease or own an aircraft. So members still get to pay an initial and monthly fee, as well as an hourly rate for using the club’s aircrafts. These rates are usually much smaller than what it is in the equity clubs, as they seek to keep prices low for members.