Go Engine Management Company (Gemco) has introduced a set of cost-savings programs for owners of piston engine aircraft that offer consistent, tax-advantaged monthly payment plans to cover the cost of engine overhauls.
These engine programs have been shown to increase the value of aircraft during resale, stabilize the cost of aircraft ownership, provide tax savings, and build equity for long-term asset options, according to company officials.Gemco’s Overhaul Savings Program can be utilized for leaseback arrangements and accounts are transferrable between owners and between different engines, officials noted.
“Because we are owners and pilots, we know the fun and freedom of flying. However, we also know the costs of aircraft operation and engine overhaul requirements,” said Dylan Grimm, president. “We developed this hourly engine program specifically for piston engine aircraft owners so they have access to the same benefits that previously were available only to large corporate or commercial operators.”
Through Gemco’s one-time enrollment process, at the time of the next engine overhaul, participants’ costs are covered. The company handles the issues of pricing, cost averaging, and management of customer reserve accounts.
The company’s Fleet and Multi-Engine Discount Program offers additional savings to those enrolling multi-engine or multiple aircraft, officials added.