Monday, December 31, 2007

2007 Year In Review

It’s time for the annual retrospective on what was accomplished, flying-wise, during year 2007. Let’s start with the goals set in the beginning of the year, and recap whether they were met.

1.
Obtain commercial pilot, single-engine rating, including the written test by February 28 and the certificate by June 30. Passed the written on January 13 with an 89%. An impressive start. Took a number of flight lessons in April once the weather broke and supported regular flying. Things fell apart after that, due to work and other life commitments. So, we’ll generously call this one a “D.”

2. Obtain flight instructor license, including the written test by September 1 and the certificate by December 31. Nothing accomplished here, with the notable exception, squeezed in at the proverbial eleventh hour, of passing the Fundamentals of Instructing written test. Call this a “D----.”

3. Fly ten Angel Flights. Volunteered for a bunch, several were cancelled by Angel Flight, a few by the IFR Pilot due to changes in work commitments, and one (on December 26, which was a GREAT weather day) due to sickness within the preceding 48 hours. Since the “no illness in 48 hours” is a personal minimum for me, I really had no choice. All of this is a long way of saying that the IFR Pilot did fly one actual Angel Flight during 2007. So, this one is also a “D-,” especially after a really nice article was written earlier this year about the IFR Pilot’s involvement with this very worth charity.

4. Log 20 hours of actual instrument time and 10 approaches in actual. Given that I only flew a total of 57.7 hours during 2007, there’s no surprise here that this goal wasn’t met. Logshare.com reports that I flew a total of 5.9 hours in actual instrument conditions and another 2.9 under the hood, with a total of 14 approaches. So, that’s a total of 8.8 hours, or 15% of my total time for the year. In the past, I’ve averaged around 110 to 120 hours for a year. Had I flown the average and met the 20 hour goal, that would have translated to a total of about 17% of my time on the gauges. Call this a “B” performance for the year.

5. Return to publishing "Accident of the Week" each week, or at least on a more regular basis. I did this for a while, but frankly, the content of some response e-mails that I received convinced me that this isn’t a worthwhile endeavor at this point. Call this a “withdrawn goal.”

6. Publish one freelance aviation article. This one was accomplished, but only after pounding the pavement to find a willing publisher (Piper Flyer magazine, September 2007 issue). The freelance aviation writing gig appears to be a harder nut to crack than I first thought. However, I was asked to submit some more to the magazine, and I’ve finally had time to sketch out some ideas, so perhaps we can keep the momentum moving on this one.

Overall, it’s tough to grade the year. I guess I’d call it a “C,” in other words, average. Some goals weren’t met, but I did at least make an honest effort towards them. Also, I did conceive and help organize the first Blogging Pilot World get-together in Toronto. Here’s hoping we can do that again this summer.

So, what’s the plan to 2008? Simple: Meet the goals of 2007, and add in obtaining the Ground Instructor ratings this winter while the weather precludes regular flying. Some of these goals could be even more challenging in the coming year, as there’s a bit of uncertainty concerning Mike Hotel’s future. But, those issues aren’t ripe for full analysis or disclosure here yet. Stay tuned on that front!!!

Here’s one last piece of analysis, something I’ve shied away from doing in the past. We all know and understand that aviation is an expensive addiction, and airplane ownership is the apex of that addiction. That being the case, I have never tried to sum up how much I’ve spent in a year to operate either N3978S or N72MH. But, let’s explore the actual costs of operation for a minute.

For the 57.7 hours that I flew in 2007, I wrote checks to our little partnership for a total of $9932.83. After subtracting $558.00 for expenses that I would classify as not directly related to owning the plane or are one-time expenses, I spent $9374.83 to own Mike Hotel during 2007. That translates into $162.48 per hour to own, insure, operate, and maintain a very, very nicely equipped Piper Arrow. I don’t think that I could find a plane of the same caliber anywhere in the local area. Keep in mind, our equipment includes Garmin GNS 430, MX-20 MFD, Garmin 396 with XM weather, standby electric attitude indicator, autopilot, and vertical card compass. These are all items that increase the safety and reliability factor. Then, add in having the plane available anytime I want it, with no daily minimums, etc., it starts to approach a “no-brainer.”

Assume for a moment that I had actually flown 100 hours in 2007, the level that is often bandied about as the “break-even” point for aircraft ownership. My costs would have increased by $1607.40 (assumes fuel only, no additional maintenance, which I recognize might not be entirely accurate), for a yearly total of $11,540.23. Or, about $115 an hour.

Now that makes it a real bargain. A 182RG at our airport rents for about $136 an hour, but its Garmin 430 isn’t kept up to date. I’d have to purchase a renters insurance policy ($300 to $600 for the year). And, if I wanted to keep my Garmin 396, I’d still be paying $50 or so a month for the data. Also, our monthly payment to the airplane partnership includes subscriptions for charts, approach plates, and the Flight Guide. So, I’d still have those expenses if I was renting. All of that piles on to the hourly rental rate. Then, throw on the intangibles, such as not having the plane available when I want it, not controlling the maintenance decisions, and the like.

Ultimately, there’s no denying that it’s expensive to own and operate an airplane, especially when you don’t engage in deferral of maintenance squawks and aren’t afraid to make the decision to spend more to upgrade the airplane. So, I’ll take what I’ve got and be happy.

Happy New Year to all of you.

2 comments:

Zach said...

It may be a little expensive but it totally worth it in my opinion. I won't have my plane for another five/seven years but saving a little cash each month will definitely work to my advantage when the time comes. I'm jealous dude. Anyhow, good luck on getting your Comm. and CFI ratings this year. Keep us updated!

HobiePilot said...

Hey Mr. IFR Pilot,
I can help you with your 2008 resolutions. I’m a 40yr old corporate pilot and I fly a Bombardier Global 5000. I’ve reached the top of my game and I’m retiring at the end of this year and purchasing a restored Piper-Chieftain to tour the country with my wife and three sons. I happened upon an incredible opportunity that has made my life unbelievable and able to accomplish my dreams. I believe in “Pay-it-forward” except I’m doing it for 5 people instead of 3. I prefer to be associated with other pilots so I am looking on blog sites for pilots that seem unhappy with where they are in life. Buy your own incredibly outfitted aircraft never ever say I can’t afford that again.
Anyone, that’s a pilot, can email me and I’ll send you my info. I’m only doing this for 5 people so act fast! Leave your career behind and fly for YOU. Have a great life, I am.
Bill Meyers- N116PM-Flying@yahoo.com