I Googled your error message and saw this:

http://www.gamesforum.ca/showthread.php?t=366923

SOLUTION:
Delete the Logbook.BIN located in "...\My Documents\Flight Simulator X
Files\" of the current user. It seems that each time I did a full wipe
and clean install, I did not immediately try to install FSX to see if it
would work. More important to me was restoring my docs back over for
work and school. Had no idea that a corrupted logbook was causing such a
problem.

There were other sources of inf as well if you do a search for the error message.

Bruce