What is a "Leaseback"?
The term "Leaseback" is more or less industry jargon and somewhat of a misnomer. With an aircraft Leaseback, Mid Island Flight School serves the role of asset management. The aircraft is owned by the individual, while Mid Island Flight School is responsible for introducing qualified customers, as well as managing all financial transactions. A better term would be "Dispatch Agreement", but hey we're not ones to go against the grain.
Similar Example - Beach Condo: Let's examine a similar situation with a beach condo. If you wanted to put that property to work and turn it from a liability to an asset, your only legal option (assuming that's your thing), is to put some renters in there when it's not being utilized. Now let's say that you also have to balance work and family life as well, so it's not reasonable for you to take care of all the hassles of management. That's when a property management firm comes into the picture. They take care of finding customers, the financial transactions and making sure the place is attractive.
In the case of a Leaseback, Mid Island Flight School is your management firm and we take care of finding students/renters, assuring their competency, collecting the money and making sure your aircraft is maintained to the highest standards.
When does a Leaseback make sense? These are some of the more common reasons for leasing back an aircraft, however this list is by no means inclusive. Everyone's needs are different and we can tailor a plan that can help you realize your goals.
Why Leaseback with Mid Island? Mid Island Flight School is a seasoned flight school with over sixty years in the business. We have a well established customer base and cover multiple locations to reach a wider demographic. The Mid Island Flight School philosophy revolves around a basic commitment to excellence - that applies not only to flight instruction but all aspects of our business.
Want more information? Interested? This is basically the gist of aircraft Leaseback, but there's obviously more information you'll need to make an informed decision about what will best fit your needs. There are special training incentives for new aircraft purchases. Use the following form to let us know your needs and we'll contact you with more information.
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