I'm disregarding Mr. Pid's advice in another thread and am trying to get a feel for what it costs to own and operate a small aircraft. We've got a remote property that is accessible on floats in the summer, and skis or snowmachine in the winter. I'm going through this exercise because I'm just a few years from retirement, and if the wife and I get the flying bug I need to know if it's something that will be affordable at retirement, or if it will take One More Year (or more) to bank enough funds.
So here's a simple sketch of what I think it takes to buy a seat at the table:
My numbers are fuzzy at this point, as it's a big question mark as to whether we'll get into flying and if so what plane we would want. I'm hoping to get some input if anyone sees a cost category that I'm overlooking, or if my estimates are grossly out of whack.Code:One time costs: Aircraft (ideally 4 seat, low hours SMOH) $30K Floats (eventually) $15K Overhaul, if needed $25K Fixed annual costs: Annual inspection $1200 Insurance $1500 Tie-down $1500 Service & minor repairs $2000 Fees $500 Etc (makes the math easy) $300 Hourly costs: Fuel $55 Oil $3
For 100 hours a year, I'm guesstimating operating costs at $128 per hour. At 200 hours it drops to $93 per hour and at 50 hours it jumps to $198. This would be for something like a C-172, PA-22 or similar. I've only started drinking from the fire hose of research on this, but I realize my wants may drive the level of performance and cost up to the next level.
Is my guessing even close to what folks are paying for the pleasure of flying in AK?