Years ago, when the ICON A5 was first announced, owners Steve Brugger and Joseph Staten knew that it was exactly the type of plane they had always wanted. Both were pilots residing in Seattle, but neither had ever purchased or owned an airplane before and they were uncomfortable with the idea of having to figure it out on their own.
Shared ownership isn’t a new concept for GA and many of the benefits and potential pitfalls are obvious, but what makes Steve and Joseph’s situation particularly interesting is that they didn’t know each other before deciding to partner and purchase an A5 together.
Their story offers a great case study for anyone interested in co-owning an A5, whether it’s with a friend or someone they haven’t met.
- How did they go about legally forming a partnership?
- How did they determine if they would be well suited as co-owners?
- How did they structure their operating agreement, especially considering they didn’t know each other at first?
- How do they share management responsibilities of the aircraft?
- What benefits have they realized from their shared arrangement?
- What should you do if you’re interested in partnering to buy an A5?
Read their ownership story by clicking here. https://www.iconaircraft.com/2019/12/05/buying-an-icon-a5-with-a-partner/
For more information on shared ownership or to connect with potential partners in your area, please reply to this email or call us 707.564.4100.
