LetsFly FAQ

Cooperative FAQs
1. What is LetsFly?
2. How does a cooperative compare to other popular ownership programs?

Joining a Cooperative FAQs
1. Why are other aircraft ownership programs more expensive than LetsFly?
2. How much does it cost to join shared ownership in a LetsFly cooperative aircraft?

Owning a Cooperative FAQs
1. What are the requirements to become a local cooperative?
2. Why can't I start my own co-ownership or flying club without the Letsfly Cooperative System?

Cooperative FAQs

1. What is LetsFly?
LetsFly is a cooperative organization that is dedicated to providing economical aircraft ownership, discounts, benefits and other resources to our members throughout the country. A LetsFly cooperative is similar to a real estate cooperative. One person (the cooperative owner) purchases the aircraft and then sells shares to cooperative members. The owner is compensated for putting the cooperative together and managing it.

2. How does a cooperative compare to other popular ownership programs?
A cooperative differs from fractional programs in that cooperative owners purchase, manage, and fly the aircraft they share with the cooperative members. Therefore, cooperative owners have a personal vested interest in low ownership and operating costs. Fractional programs business model is based on generating and collecting management fees; they have a vested interest in charging whatever the market will bear.

A cooperative differs from a partnership financially and managerially. In a partnership, each individual in a partnership has to obtain financing for the entire aircraft. For example, all four partners must qualify for a $100,000 loan to buy a $100,000 aircraft. Each partner is individually liable to the lender for the payment for the entire aircraft. In a cooperative, only the owner is subject to the lender. In a cooperative, the cooperative owner manages the aircraft. In a partnership, all decisions are made by committee thereby creating much potential for discord.

Joining a Cooperative FAQs

1. Why are other aircraft ownership programs more expensive than LetsFly?
Cooperatives, unlike fractional programs or clubs based on leaseback aircraft, do not pursue profit maximization; they pursue maximum benefits, i.e. minimum costs, for their members. Cooperative benefits include low interest rate financing, discounts on products and services, and more.

2. How much does it cost to join shared ownership in a LetsFly cooperative aircraft?
Ownership starts with an initial investment of $2900. For more details on each aircraft, click here.

Owning a Cooperative FAQs

1. What are the requirements to become a local cooperative?
Fill out an application and receive approval.

2. Why can't I start my own co-ownership or flying club without the Letsfly Cooperative System?
With over 150 cooperatives already formed, the LetsFly cooperative model is well-proven and repeatable. Repeatability simply lowers cost. Unlike other forms of co-ownership, LetsFly cooperative owners and members do not have to "re-invent" the wheel and bear all the associated costs and hassles just to enjoy the benefits of aircraft ownership. LetsFly procures financing, insurance, provides operating agreements* and assists in finding and assembling cooperative members.

* Additional fees for customizing operating agreements may apply. LetsFly does not provide tax or legal advice but can recommend knowledgeable experts when and if needed.