The Bristol-based TBM Club has received interest for the shares it is looking to sell in its brand new TBM 700. It is planned that the aircraft – which was purchased for a sum of £1.5 million and delivered on January 2 – will be split among six separate shareholders, each contributing a sum of under £60,000.

Founder Charles Hack told EBAN: “We’ve had half a dozen people approach us and we are working on the next stage, which is a detailed presentation.

“One share of the aircraft gives the shareholder one sixth of the rights and obligations of the company. There are no hidden costs and it is proposed that each shareholder will have access to the aircraft for sixty days per year, fifteen days per quarter. As the aircraft is brand new, unscheduled maintenance or breakdowns will be almost nil. Five days have been allowed per year for planned maintenance.”

The TBM Club’s aircraft was funded by way of a 15 per cent deposit paid by Hack and an 85 per cent loan from Lombard North Central. It is registered in the US, is managed by the Bristol Flying Centre (BFC) and can be flown either by a part-owner with a licence or a pilot provided by BFC for approximately £200 a day. Said Hack: “I’m targeting the scheme at private pilots and also at companies who want to have an aircraft based in Bristol to fly around Europe.

“To give an example, if you assume a three hour radius – which is probably plenty long enough to be in the aircraft – three hours would take you right the way into Eastern Europe, Scandinavia, down as far as Malaga, right the way through to Madrid, and up to northern Spain and northern Portugal.”

In order for the deal to be complete, Hack has to sign up all the shareholders contemporaneously. His target is to sign up the first group by May 1 of this year. Asked is there are plans in the pipeline for more TBM 700 deliveries, Hack said: “Certainly – if this works well, I’ll be happy to set up another TBM 700 group at another hub like Birmingham East Midlands, Leeds or one in the London area.

“In my opinion, the TBM 700 is the optimum aircraft to fly. It is fully certified for instrument

flying conditions and offers four times the reliability of a twin-piston-engine aeroplane.

“It can accommodate five passengers and a pilot, cruises at 30,000 feet and has a maximum range of 1,780 miles. The cabin is 15 feet long, has air conditioning, leather seats, a folding work-table and a refreshment cabinet.”

The TBM Club was founded by Charles Hack in 2001. Full details of the aircraft and financing are available at www.tbmclub.co.uk