Iowa State University has sold its Cirrus SR22 aircraft for $450,000 to Midwest Aviation Equipment, LLC. The 2011 plane was purchased in 2014 for $470,000 plus the trade-in value of an older plane owned by the university of $28,000.

The plane was appraised in February at $667,712 by a NAAA Senior Certified Aircraft Appraiser, according to documents, which listed the market value at $432,000 in February. This does not take into account the negative information regarding the aircraft that circulated in relations to Leath’s use, according to an appraiser from the American Society of Appraisers. 

“[Katheryn’s Report has a] claim that the aircraft suffered a hard landing, when there is nothing in the maintenance logbook that establishes this. Also claimed is that the aircraft was “substantially damaged”, which as an A&P mechanic, and Accredited Senior Appraiser, I vehemently dispute,” James Becker says in his appraisal.

ISU considered using a broker and a bid process to sell the plane. However, after evaluating broker responses to the request for proposal, bid responses and other market factors, ISU decided to sell the plane directly, the Flight Service website says (item 27).

The university had owned a Beechcraft King Air 350 (twin engine), which was purchased in February 2014; and a Cirrus SR22 (single engine) purchased in July 2014 and sold June 12, 2017.

The Cirrus was the plane former President Leath was certified to fly and was damaged while he was piloting. Damage in the appraisal report said the Cirrus struck a runway light at the Bloomington-Normal Airport (KBMI) Illinois in September of 2015.

Common questions about Iowa State’s flight program following the reveal of damage done to the plane by former President Leath are addressed on http://www.ur.iastate.edu/flightservice/. 

University Flight Service has three full-time pilots, according to the fact page. These pilots are ISU employees who are certified to fly both the King Air and the Cirrus aircraft. 

The fact page also said it was well-known, especially when Leath was hired, that he was a pilot. It was reported that President Leath’s ability to fly was considered an asset because it allowed for more flexibility and efficiency in his schedule, according to the fact page.

Before that the university had two planes, a 1977 Beechcraft King Air and a 1978 four-seater Piper PA 28-161. The newer planes were purchased as replacements.