Have you ever come to the realization that you are flying too much airplane? There’s probably a fair number of us in that situation. But what happens if you realize that you have more airplane than you can afford?
This spring, I came to that realization.
Citations are fantastic airplanes. My 2010 Citation Mustang is one of the best examples out there. New paint, interior, avionics upgrades, you name it. I had no intention of selling it, but my thinking went something like this:
- Continuing economic slowdown
- Topsy turvy world events
- Resale market just peaking after historic highs
- Nice profit in the Mustang
- Desire to leave a little something for my kids and grandkids
I read my friend Dick Karl’s emotional farewell to flying his Citation Jet single pilot due to astronomical insurance costs. Luckily, I still have underwriter interest, but for how long?
The hardest part was telling Patty. “You will just buy something else, you always do,” she said. “But this is probably the last jet for us,” I answered.
And so, without a resolution to the next airplane dilemma, I decided to sell N396DM.
Cody Honeyman and the fine folks at Textron Aviation had a buyer within days. Jon Bradford, the new owner, arrived in Dallas with an aviation entourage and fell in love with the Mustang just like I did. “I won’t sell it unless you join Citation Jet Pilots,” I told him. “Okay, if that’s what it takes, you have a deal.”
The folks at Galaxy FBO in Addison helped me pack all of our accumulated stuff. “I’ll be back with another airplane someday,” I yelled over the whine of a Citation X on the ramp.
I made the delivery flight to the San Antonio service center for the pre-buy knowing it might be my last time in the left seat as PIC. I kept hoping for a call from the buyer’s rep telling me they had found something very unusual in the aft baggage compartment and were calling off the closing.
No such luck. It was the smoothest process of any airplane I have owned.
So, what’s next?
I went straight from single-engine piston aircraft to twins early in my aviation career. Back in the early 80s, there were almost no single-engine turbine options. Right or wrong I am partial to two engines, albeit realizing that often the second engine just gets you closer to the accident site.
I called my insurance broker to ask about downsizing to a Baron or a Duke. “Expect a 25 percent premium increase,” they said. “You’re kidding. The Mustang is faster, flies at FL410 and has a much higher hull value,” I argued.
“We just like you flying the Mustang. It’s something you are familiar with and God knows you’ve had plenty of them,” came the response.
Now, I need to find something I can easily afford. In the meantime, I’m off to Wichita for another recurrent in the Mustang simulator.
‘Cause you never know what’s just past that next cloud.
Fly safe.
Whether you sell or not, please continue to write–you provide a remarkable insight into aircraft ownership. Many of us face this inevitability of having to downsize–I, for one, would like to continue to follow your ownership considerations.
Jim, tell me when I will start sleeping better while living this dilemma. Thanks so much for reading and walking with me on this journey.
Dave,
I know your pain. When I decided to sell my company I knew buyers did not like airplanes especially jets. What to do. I realized I no longer had a mission and at a projected 70 personal flying hours per year there was no way I could keep up with the training. I would be a statistic waiting to happen. Candidly the sale was like a death in the family. After two years out of aviation I knew I was not happy. I also knew there was only one solution and that solution was a very nice Piper Meridian, which I flew for three years until age and insurance availability crashed down upon my happiness. Well I flew the Meridian for three years and was able to sell it for what I paid. Again planeless and distraught as a result of an infilled need in my life. And then one afternoon it happened. I was outside and a voice echoed from the heavens above. Joe, it said, life is made of choices. At your age your choices are fly a piston of stay on the ground. I try to always heed advice provided from on high and now have a beautiful Cirrus SR22T. It is a whole new low level world, BUT, I am still flying.
Loved your article. Blue skies.
Joe Zeno
Joe and I are friends from years back. I am so happy that you are still flying. We will all face the music at some point but the effort we put into that final flight is amazing.
It must be something we love….
Safe flying Joe.