FAQ
Frequently asked questionsHow are funds raised directly by the school managed ?
Funds generated by your school will be kept in trust account under FYE to be used solely for your schools project and aircraft. On the sale of the aircraft built by your school the proceeds of the sale will return into the trust account to finance your schools next build project. These funds will never give the school title or right to how FYE uses the money.
Who can participate in the project ?
If you live anywhere in Australia, your school has an interest in aviation, and you are a year 11 or 12 student contact us now so we can discuss your school building an aircraft and then learning to fly in it.
Why would a school not just buy its own aircraft kit ?
One of the main reasons that Flight youth engineering (FYE) has been formed is to absorb the risks associated with aircraft ownership, and therefore removing the liability from individual schools. FYE also supplies industry experienced mentors to make sure your project is completed safely and to a high standard.
As a donator to the project how is my donation used ?
You can elect to support your local school by donating directly to their project, or you can donate to FYE and your donation be put to use where it most benefits the program.
All funds paid to FYE become donations to FYE as a NFP (not for profit) organization.
What happens if upon sale of the aircraft, we don't raise enough money for the next project ?
At present our projects are based upon American kit aircraft that are available, we have negotiated a discount for the kits with Vans Aircraft. This however makes our organisation vulnerable to fluctuations in our exchange rate with the American dollar. As such we expect that subsequent projects will need a top up of funds from FYE and donators to continue to run until such time that the AUD closes the gap on the USD.
We at FYE are monitoring other Australian options that should be on the market in the not to distant future that would leave us less exposed to exchange rate fluctuations.
If Your question isn’t listed here feel free to contact us on though our contact from, via email or give us a call
What happens to the funds if the school no longer wishes to participate in the program ?
If at anytime your school decides that there is no interest in repeating the project, the proceeds stay with FYE to be invested in other projects with other schools or youth organisations.
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