May 10, 2004
[Repossessed planes'] owners - often banks - are keen for people to be using them, if only to avoid paying for storage, insurance and maintenance themselves, Mr Whyte says.
"You could possibly get one for free or, if not, you could lease one for an hourly rate," he suggests.
Removing all traces of the previous owners and customising the planes with your own brand will cost around £100,000 a time.
London based Aviation Economics, the firm behind the £5.5m figure, suggests those unable to find free planes will find it surprisingly easy to lease them from big firms Gecas and GATX.
It suggests you may want to rent four or five aircraft. "Most airlines will lease aircraft and will usually need two or three months deposit. That would account for about two-and-a-bit million dollars," says managing director Tim Coombs.
