Sellers of airport shares should provide the following information to perspective buyers.
As of 2022.
- Technically, you are buying shares in the airport not a hangar or tie down. The shares give the right to occupy a hangar or tie down.
- Hangars are required to house an aircraft and are not allowed to be used for general storage and non aviation intentions.
- Aircraft owners occupying a T-hangar are required to purchase 34 gallons of fuel per month, corporate hangar 68 per month and tie down 17 per month. At the end of each year, fuel purchases are calculated and any shortfall is charged $2.50 for each gallon short.
- A monthly capital call of $160 for a T-hangar and $320 for a corporate hangar is assessed to help maintain the airport.
- The capital call can go up or down depending on the airport’s situation. There is also the possibility of special assessments.
- Electricity to T-Hangars are divided among the shareholders in each row, billed quarterly. Typical quarterly bill is around $40. The corporate hangars are individually metered.
- Shareholders who have heaters in their hangar deal directly with PECO for commercial natural gas service.
- Existing share certificate must be signed by the existing shareholder and presented to the airport, at which time and a new share certificate may be issued to the new shareholder.
- A Shareholder Agreement must be signed by the new shareholder before being issued new shares of the airport.