|
How long has the club been in existence?
The Delaware corporation was formed in February 1999
by the original six members of the club for the purpose of purchasing the
Cherokee Six. First flight was in March of 1999.
Where is the club based?
As of August 1, 2004, Six4aSix moved all of its planes to Trajen
FBO at Ft. Worth Meacham airport. We moved from Hicks (T67) because
we could not find a hangar arrangement that met our needs,
However, Meacham offers some advantages that Hicks did not. The
airport has instrument approaches, a crosswind runway, emergency services,
more maintenance facilities and easier access to pilot supplies. Trajen
FBO offers some additional amenities: they pull the planes to and
from the hangar for you, they provide a fully equipped pilot briefing room
and a lounge area (where your passengers can wait in comfort while you
pre-flight your plane).
How many people can be in the club?
The club's original charter allowed the issuance of up
to 36 shares (assuming we owned 4 aircraft). However, recently the Club
has pursued a course of recapturing (buying back) shares from outgoing members
with the intention of becoming a leaner and more efficient club. Our
current intention is to stay a 2-plane club wiht a pilot-to-plane ration of no
more than 8:1. In other words, no more than 16 members.
What are my responsibilities as a
Shareholder/Owner?
You must recognize that owning of a share in Six4aSix,
Inc. makes you a part owner of our planes. Your responsibility starts with
paying your monthly dues and your flying time by their due date. This
obligation to pay the monthly dues continues as long as you own the share. To
stop this obligation you must sell the share to another person approved by the
club, specifically, by two-thirds of the members in “good standing” (those that
are current on their dues).
As a part owner, you share in the responsibility of taking care of the
planes. This means participating in the decision-making process of the
club and the maintenance of the planes. We ask that each member attend
meetings (whenever possible) and participate in the discussions before
decisions are made. We expect each
member to assist with maintenance by doing his or her part in keeping the
planes clean, quickly reporting any squawks, and helping with routine
maintenance. We believe that one of the best aspects of being in a club is the
opportunity to socialize with fellow members and, in the process, learn more
about the aircraft we enjoy flying.
If you simply want to fly the planes and have no say
or involvement in the joys (and trials) of ownership, then we suggest that you
simply consider renting from your local FBO.
What are the monthly dues? Hourly costs?
The monthly dues and hourly costs are set by the
Club's Board of Directors (BOD) and dues are adjusted from time to time by the
BOD, to accurately reflect current costs and to build adequate reserves for
engine and prop maintenance and overhaul on our aircraft. As of October
2005 the Club's dues are $295 per month. They have stayed at that amount
since we moved to Meacham in August 2004. Hourly costs vary by
aircraft. You can find each aircraft's current hourly charge on this
site's home page, beneath the photo of each plane.
How do you arrive at the monthly dues and the
hourly rates for the planes?
The monthly dues are designed to cover the fixed
expenses. These include hangar rent, insurance, loan notes, online scheduler
fees, GPS updates, and $1,000/year towards the annual for each plane. This
number is divided by the number of members. A change in the number of paying
members (“members in good standing”) could cause this monthly fee to increase
or decrease, especially if the condition persisted longer than a short period
of time.
The hourly rates are designed to cover the maintenance
costs of the planes and the cost of the engine/prop overhaul. Both the monthly
dues and the hourly rates are set by the Board of Directors. The Board of
Directors has adopted a policy of reviewing the rates at least twice per year
and will make adjustments (upwards or downwards), as required, to meet the
above-stated goals. Also, since all the board members serve without pay, no
part of your monthly dues benefits an individual.
What about fuel costs?
Each member is responsible for their own fuel costs, and for returning the
aircraft to the hangar with a set amount of fuel in the tanks (the specific
amount varies by aircraft).
What happens if I want to sell my share?
You are responsible to advertise and sell your share,
for what the market will bear, just like you would with shares of stock in any
corporation. Sometimes there is a waiting list of interested members
that you could contact. However, until you sell your share (or surrender
it to the club), you are still responsible to pay your dues.
Will the Club buy my share back?
Don't count on it! The Club (Six4aSix, Inc.) has no obligation
to buy back a share. This is similar to any joint-ownership
agreement. In most of those, your fellow owners would not be forced to
buy out your interest in a jointly-owned plane or to pay your share of the
expenses. On occasion, the Club has bought back shares. However,
this was done only because it was in the Club's best interest at that time.
Will the club ever acquire other aircraft?
That is certainly a possibility. Any such
decision would be made by the membership's collective vote.
How is scheduling handled?
Six4aSix uses Aircraftclubs.com to provide
internet-based scheduling. Each member is expected to comply with
the club's scheduling guidelines . Apply for
membership and we'll send you a guest link to the scheduler, so you can
see what aircraft availability looks like!
Does the club have Insurance?
Yes, we have a policy (copy available upon request)
with AVEMCO that insures the club and its members from liability for accidents.
The same policy also provides hull coverage to repair the planes in
the event of an accident. This does not mean that you are prevented from
obtaining some type of supplemental insurance if you feel that is appropriate
in your case.
Can I be held liable for the damage to the plane
in the event of an accident?
Normally, “no”. The AVEMCO policy will pay for the
damage to the plane in most cases. If the accident is caused by your error,
then you will be responsible to the club for the deductible (currently $1000 or
$300, depending on the plane). However, please note that the policy provides
coverage ONLY to members that meet the insurance company’s minimum
requirements. These include having a valid license, a current medical, a
current BFR, and meeting the currency and checkout requirements in each model
of plane. If you fly without a medical, with an out-of-date BFR, or without
meeting the currency requirements, the carrier could deny coverage. In that
event, you would be personally liable to the club for the damage to the plane.
The same could happen if you let a non-member fly the plane (even if that
person is a qualified pilot).
Can I take the aircraft on long trips?
Certainly! And we don't charge overnight or
minimum usage fees, like an FBO would. We do expect members to comply
with the club's liberal scheduling guidelines,
though.
Apply for membership now!
|