THE FINE PRINT
Behind aircraft ownership is a host of costs and rules to ensure safety. The chief of an aviation company breaks it down.
The itch to fly started when he was a boy, as he entertained thoughts of becoming an aviator. As Ng Yeow Meng grew up, the travelling bug hit and his mind wandered to exploring places off the beaten track.
The combination of the two was a powerful potion but, after university, he dived immediately into information technology instead. Then, he landed a position with GE Aircraft Engines and was subsequently posted to Cincinnati, Ohio.
In the cornfield belt of the United States, there was little to do outside of work and, with time on his hands, he took up flying lessons.
When he returned to Singapore in 1998, he was the proud owner of a United States’ pilot licence and, subsequently, also acquired a Malaysian one.
“What grew from the regular trips up north was a desire to fly my own plane,” the 43-year-old says. “Around 2006, I discovered a Piper Warrior II was up for sale in Australia for A$60,000 and thought the price was reasonable. I met the seller in Bankstown, Sydney, to complete the sale and flew it back to Singapore.”
Once he had his hands on the Piper, the intrepid aviator began living his boyhood ambitions, flying to remote parts of Malaysia, Thailand, Cambodia and Indonesia. He went on to co-own a Robin2160 aerobatic aircraft, a Diamond DA40 and, most recently, a share in an
Eclipse EA500 light jet. But, like all types of vehicles, there are fi xed and variable costs attached to owning an aircraft.
After acquiring the Piper, Ng paid about $5,000 in annual insurance premiums, $100 an hour to service it and $200 a month to park it at Seletar Airport. Fuel cost was about $100 an hour. Although he now flies turboprops and light jets, he says the cost of owning an aircraft has remained more or less the same.
NUTS AND BOLTS OF OWNERSHIP
“Before buying an aircraft, you have to decide what your mission is,” explains Ng, who is now the CEO of WingsOverAsia. “Are you getting one for the joy of flying, as a lifestyle thing, for business, or a mix of everything? The plane has got to fit your needs or you will end up with something you don’t get a pleasure out of owning. Then you may feel it is both expensive and a chore, instead of a transportation joy.”
A typical six-passenger light jet or turboprop can cost anything between $2 million and $6 million. Insurance premiums and maintenance can add up to $20,000 per year, while parking is between $500 and $6,000 a month. The fuel bill ranges from $250 to $500 per hour.
Acquiring a new aircraft gives prospective owners the flexibility to travel at a moment’s notice, but it gets trickier when buying a pre-owned plane. A used aircraft with a history of incomplete maintenance or if it does not comply with regulations may lead to legal and airworthiness issues.
Explains Ng: “Before the authorities grant you the permit to fly your plane, you must produce a whole range of documents that detail the historical and current state of airworthiness and updated ownership record. Missing documents, pages or entries can cause significant problems.”
One safe route to take is to engage a knowledgeable professional who is familiar with international regulations and those of the country where the aircraft will be based. In Singapore, apart from WingsOverAsia, companies like Hawker Pacific and Cessna provide this expertise. They also provide maintenance that meets global safety standards and comply with local laws.
“Maintaining an aircraft is unlike car or boat maintenance,” Ng points out. “There are specific maintenance schedules that must be met, even if the plane has not been flown, or else its permit to fly will be revoked. An owner may not have the time to look into these important issues, but we can do it for him.”
TAKING OFF
Whether for business or leisure, there is one fi nal detail that may render taking off virtually impossible. And this is a pilot’s knowledge of fl ight procedures and regulations in the place he is taking off from and that of the destination. Says Ng: “When I started flying the Piper, I had aviator friends in Malaysia and Indonesia who could advise me on a checklist of things, like requesting landing permits, and airstrip and refuelling information of the places I was flying to. But I faced a brick wall when I wanted to fly to spots like Cambodia, Laos and Vietnam. There was little information and it was frustrating.”
That’s when he started WingsOverAsia in 2004, fi rst as a blog for pilots across Asia to share information. In 2009, it was registered as a company that provides a full suite of aviation support services, from purchasing and maintenance to fl ight plans and the logistics to fly from point to point.
He says: “There is a growing interest in acquiring and owning private aircraft in Asia and a corresponding demand for professional consultation on how to go about doing it. We are part of this community that is helping them.”
“There are specific maintenance schedules that must be met, even if the plane has not been flown, or else its permit to fly will be revoked.” Ng Yeow Meng, on aircraft maintenance