Driving to work this morning, for some reason a question popped into my mind.
I am a PPL and am flying with a friend for 2 hours in a plane that rents for 100 an hour. The total cost of the flight with fuel, parking, etc... was $250. I can divide the cost and we each pay $125.
Now suppose I own the plane and the cost then sits at $50, because there is no rental involved. Can I only <charge> the other individual $25? Or...Could I have the individual pay a portion of what it would have cost to rent the plane?
Typing this out, I think I have answered my own question, but I wonder how others think.
I am a PPL and am flying with a friend for 2 hours in a plane that rents for 100 an hour. The total cost of the flight with fuel, parking, etc... was $250. I can divide the cost and we each pay $125.
Now suppose I own the plane and the cost then sits at $50, because there is no rental involved. Can I only <charge> the other individual $25? Or...Could I have the individual pay a portion of what it would have cost to rent the plane?
Typing this out, I think I have answered my own question, but I wonder how others think.