American Legend Aircraft announced Thursday that its Legend Cub, a modernized Piper J-3 Cub, could be had for as little as $2900 down and flown for $28 per hour when purchased through the LetsFly four-person joint-ownership program. The LetsFly Cooperative Ownership Program is "the largest aircraft cooperative in the country," according to President Eldon Corry. The company claims to offer an affordable model for pilots "who wish to fly often, but prefer not to rent" in a package that offers "a very appealing aircraft ownership alternative," especially in the context of difficult economic times. For the roughly $110,000 Legend Cub, the company says its four-person system translates into the previously mentioned low initial cost, low hourly cost, and monthly fees that land in the ballpark of about $400 (depending on the loan's interest rate). For what it's worth, LetsFly will also put you in a Mooney Acclaim or Cirrus SR20 for that same initial $2900 ... but you'll be paying about $1500/month and $185/hour for the Mooney, or $710/month and $90/hour in the Cirrus.
LetsFly offers a very wide range of aircraft options, from light sport aircraft to a Beech Duke, depending on inventory. At the time AVweb went to press, American Legend Aircraft was listed by Google as potentially affected by malicious software, so we'll direct interested readers to contact the company by phone if interested in further details: 903-885-7000.