FREQUENTLY ASKED QUESTIONS

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1. How long has AirShares been around?
   AirShares Elite, Inc. was founded in 2000 by Bob Rosenburg and David Lee. Bob and David started the company in Atlanta, Georgia with a single Cessna 182 and one customer. By early 2008, the company had 55 aircraft in 17 locations with a continually growing group of owners.

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2. How do I know you'll be here for the long run?
   AirShares is not a start-up company, nor is it a "fly by night" organization. We've got a proven business model, a strong operating history and a large and loyal group of customers. Our management team is accessible as are our group of owners should you wish to talk to any of them about AirShares or our services. Regardless of the strength of our company, as an FAA-registered owner of your aircraft, your equity is secure.

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3. What experience do I need to fly an AirShares aircraft?
   You need to have the skill set of a 250-hour, instrument-rated pilot. While there are no absolute minimum hours required, you need to be a proficient, current and meticulous pilot with the maturity and judgment skills to handle a high-performance aircraft. The purpose of the AirShares transition training program is to ensure that you have those skills or develop them prior to flying your aircraft solo.

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4. What type of training is required?
   AirShares requires you to complete the AirShares Transition Training program which includes a thorough ground-based instruction syllabus, flight training syllabus and an AirShares orientation program. Additionally you must fly at least annually with an AirShares authorized instructor for refresher training. Most of our owners, even the most experienced pilots, accomplish 10-15 hours of dual instruction annually.

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5. It seems like your share price is more than the price of 1/8th of the aircraft . Why is that? The initial purchase price of an AirShare covers the cost of your share of the aircraft plus AirShares's cost of creating and managing the shared ownership environment. The cost of your share of the aircraft is straightforward. AirShares setup costs include our need to cover all the ongoing expenses of the unsold shares on your aircraft for 6 to 12 months while the shares in the aircraft are sold to individual Owners.

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6. What guarantee do you offer for aircraft availability?
   We don't guarantee availability in any of our programs. Historically, availability is excellent, and we encourage you to talk to our current owners about their experiences (see testimonials). Because we use a fleet of identical aircraft, we have the ability to interchange aircraft locally and nationally to optimize availability for our owners. Our scheduling system allows you to schedule a flight up to a year in advance. We feel that offering a guarantee would be a nice feature, but the cost of doing so would drive your costs up to an unacceptable level. Further, we feel that a "guarantee" culture is inconsistent with the safety culture AirShares demands. We never want our owners, mechanics, or staff to feel forced into making a poor decision to meet the demands of a guarantee.

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7. What happens if I damage an aircraft?
   Just as if you owned a whole aircraft, you are responsible for the aircraft. You own equity in the aircraft and we insist that you treat the aircraft as if it were all yours. If you damage the aircraft, the plane is insured for full replacement value, but you will be responsible for the insurance deductible and you may be responsible for any diminished value to the aircraft. If the damage appears to be caused by a piloting skill problem, AirShares may require you to obtain additional instruction prior to your next solo flight.

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8. What if someone else damages my aircraft, am I liable? If someone is hurt in my airplane am I liable?
   If someone else damages your aircraft, you are not liable for any expense; all AirShares aircraft are insured for 100% of replacement value. If someone is hurt in or because of your aircraft, you are personally insured for up to $1,000,000 in liability protection under the AirShares insurance policy (with no per-passenger sub-limits).

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9. Can I fly another aircraft if mine is down for an inspection?
   Absolutely. In fact you may or may not fly your aircraft on any given day. While you own title to a specific aircraft, you fly any aircraft in the local or national fleet.

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10. Can I fly another aircraft in another city?
    Definitely. You can fly an aircraft from any AirShares location.

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11. What happens at the end of my contract?
    At the end of the contract you have several options: sell your plane and leave the program, extend the management contract on your current aircraft, or upgrade to a new plane. If you choose to leave the program, the aircraft is sold and you get a pro rata portion of the sales proceeds (less a 7% brokerage fee). If you choose to extend the contract on your current aircraft, we consolidate the owners that wish to stay in the older aircraft and renegotiate a new management agreement. If you choose to upgrade, we invite you to participate in our Owner Loyalty program - allowing you to purchase a share in a new aircraft at a discounted rate.

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12. Can I exit the program? How?
    You can exit the program just as you would if you owned a whole aircraft. You can sell your share to a qualified buyer, or you can ask us to re-market the share for you for a 7% brokerage fee. Upon the sale of your share, we will cancel your management contract and you have no further obligations.

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13. Can I hire a pilot to accompany me for proficiency or business reasons?
    You can. Just as if you owned the whole aircraft, you can hire a commercially-rated pilot or an instructor to accompany you on your flights. AirShares can supply instructors for training purposes, but can not supply pilots for pilot services. AirShares does maintain a list of local firms which supply pilots who are proficient in CIRRUS SR20 and SR22 aircraft.

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14. It seems like you only use Cirrus aircraft, are you owned by Cirrus?
    AirShares is an independently-owned company with no ties or allegiances to any particular manufacturer. To date, we have focused on a single product line for three main reasons:
    
    
    1. Value Proposition: We feel that CIRRUS offers the best product, at the best price, with the best support.
    2. Interchange: By focusing on a single type, we have superior aircraft availability for our owners.
    3. Focus: A singular focus allows us to build the best maintenance, training, and operating systems.
In the future, we will add additional aircraft to the AirShares fleet, but only when doing so meets the three criteria above.

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15. AirShares isn't in my area, how can I bring you here?
    Please send us an email and let us know you're interested. AirShares has an AirShares Pilot Pioneer program that offers you incentives to help us gather enough momentum to enter new markets. We like to enter new markets with enough owners to justify several aircraft, giving us critical mass, and acceptable availability. As a Pioneer, we'll ask you to help us recruit local prospects in exchange for preferential terms. Please contact us if you're interested.

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Are you ready to fly the Cirrus SR22 and make your flying more effective? Call us today at 800-482-5411 or click here to have an AirShares Elite professional contact you.