POPHAM BASED YAK-52 – FIFTH SHARE – £8,450
WHAT ARE WE OFFERING?
YAK-52 G-YAKX was built in 1991 as one of the last major batches for the Soviet DOSAAF training organisation, incorporating all the major design modifications at manufacture.
Imported into the UK in 1994, still in its crate, with minimal hours the aircraft was reassembled and placed on the UK register in March 1996.
Since 1997 The X-Fliers Limited have operated G-YAKX, hangared at the accessible and popular GA friendly Popham airfield in Hampshire. The aircraft has been carefully maintained by us, as sole UK owners since manufacture, and is in excellent and original condition with all applicable AD’s complied with.
The aircraft wears a Soviet Air Force colour scheme with a registration dispensation from the CAA.
The, not for profit, operating company has a comprehensive Shareholders Agreement in place covering all aspects of ownership & operations, legally reviewed in 2015. Providing the reassurance that makes our YAK-52 group one of the most stable and longest established in the country.
We’ve found keeping the group size to five equal shareholders enables us to retain a pride of ownership that’s so often lost in larger syndicates.
There are also extensive accrued bank funds for the major long term lifed items covering the engine, propeller, lifetime extension, flexible hoses & triennial inspections, together with annualised expenditure funds for hangarage, maintenance & insurance.
This helps smooth our operating costs as shareholders pay their fair share at the point of utilisation. That avoids the large cash calls that can otherwise arise on major item overhaul, that effectively subsidise previous usage.
In turn this sustains share value as major items always have proportional maintenance funding in place no matter when a share is purchased.
All of the above is clearly communicated in monthly financial statements, so anyone buying a share can see exactly our financial health.
Please note we’ve implemented a passenger waiver form, with a minimum age of 18, to help manage our liability. And that we do not support the aircraft being used for competitive purposes, or for display flying, to avoid the issues that can arise from such high intensity usage.
WHAT ARE YOU PURCHASING?
A fifth shareholding in The X-Fliers Ltd, a registered private limited (by shares) company, that holds the following assets as of May 2021;
1991 YAK-52 G-YAKX
Recent 600hrs / 10 year inspection
New Annual & LAA permit -> March 2022. First YAK-52 on LAA register
New canopies, long life Aeroquip hoses, recent harnesses, auto plug mod, TRIG 8.33 radio & TRIG Mode S transponder
Electronic Conspicuity: New TRIG GPS (SIL 1 coupled with transponder) and SkyEcho transceiver, Harkwood USB power sockets in front cockpit
£35,000 in accrued funds, covering engine overhaul and other lifed items
Over £5,000 of accessories including a PowerTow tug, full size towbar, 2 Russian chutes, 2 annually serviced life jackets, misc. tools, set of Cambrai Covers and external air cylinders / adapters
WHAT ARE WE LOOKING FOR IN A SHAREHOLDER?
Experienced, capable pilots (100+hrs SEP) with a commitment to safety who can work constructively as part of a team. To buy a share you must become a Company Director, simply requiring you to be solvent with no criminal record.
WHAT ARE YOUR COMMITMENTS?
A monthly fee of £234.30 and a hourly rate (dry) of £62.17, applied from take-off to landing.
Any unbudgeted expenditure is shared equally between shareholders.
Annual membership at Popham Airfield, this provides free landings.
Annual LAA membership.
WHAT ARE WE ASKING FOR A FIFTH SHAREHOLDING?
CONTACT FOR FURTHER INFORMATION:
Rob Rowe (Company Secretary) on 07976 850533 (any time)