DiamondShare.NET FAQ

Frequently Asked Questions:

Q:    Why should I consider DiamondShare.NET?
A:     The better question truly is, "Why wouldn't you want the advantages of this program?" Once you've studied the details and impacts of this approach we think you'll be very excited.

Q:    Is the program only for the DA40 XLS?
A:     Yes, for now. This is a new program and as such is targeted to the most popular and suitable model, the DA40 XLS. In the future it will likely be expanded to cover other models.

Q:    Can we use the program to purchase a used Diamond?
A:    No. The unique package of training and benefits is tied to the delivery of a NEW DA40 XLS.

Q:    What if we want to put the aircraft in a hanger instead of tie downs as specified?
A:    Once the group is established you are a free standing entity able to make what ever changes you like in accordance with the operating agreement of the partnership.

Q:   How will we coordinate the scheduling of the aircraft?
A:   The DiamondShare.NET package includes a website and online calendar for scheduling.

Q:     What additional costs do I need to plan for?
A:    The DiamondShare arrangement includes delivery costs, insurance premiums (for specified minimum pilot qualifications), tie downs, database subscriptions and an allocation for miscellaneous costs. So it includes most everything except: sales taxes, fuel, property taxes, engine reserves, damage or unscheduled maintenance. The numbers presented also include $6000 being set aside as a starting balance for the partnership bank account.

Q:    I am a student pilot, can I purchase a share?
A:     The costs for the package is based on 3 private pilots with at least 60 hours total time. As a student pilot you have two choices 1) you can put down a deposit and work with your Diamond Flight Center to complete your private license prior to delivery or 2) request to be included and pay the premium difference for the insurance. This option is subject to approval of any existing partners with deposits.

Q:    What is the "Quarterback"?
A:    The Quarterback is the first guy to signup for a particular aircraft delivery position. He is the one that will get to pick the color and N number for the aircraft and will be the one responsible for oversight of the partnership finances during the first year. The second to sign up will be responsible for maintenance and scheduling and the third partner will be responsible for all subscription services.

Q:   Will I be liable for the full finance amount?
A:    Yes, each partner will sign a loan document promising the bank that the loan will be paid in a timely manner. A complete discussion of this topic is included in the briefing.

Q:    What happens if one of my partners does not make his payment?
A:    You will be responsible with your other partner in making sure the payments are made completely and on time. The operating agreement specifies that if a partner is does not pay his portion of the monthly amount on a timely basis his interest in the aircraft will be divided equally among the remaining partners and he will have no recourse. The remaining parties will be free to market the position to a new partner.

Q:     What if we want to have 4 partners?
A:     The program is designed for 2 or 3 parties. Once an aircraft has been delivered a group may choose to expand to a 4th partner if they wish and they obtain permission from the finance source and insurance source.

Q:     What if one of the partners damages the aircraft
A:    The operating agreement specifies that each pilot is responsible for damages he causes while Pilot in Command and of course there is insurance on the aircraft.

Q:    So how much is it?
A:    All the costs and details are shared at the pilot briefings. Tax consulting is available for each partner to determine actual after-tax costs. Individual shares "all in" including expenses range about $800 -$900 per month. See this summary example.

Q:    Can we get an airplane with an Air Conditioner?
A:    Absolutely! Cabin Cool Air Conditioners are now available on the DA40 XLS. The price of this option is not included in the DiamondShare.Net base figures.