Partners In Aviation reaches 10th anniversary of operations

Partners In Aviation has reached its 10th anniversary of operations, according to Private Jet Card Comparisons. Founded in September 2016 by Mark Molloy, a former Beechcraft executive and aircraft salesman, PIA matches prospective jet buyers with co-ownership opportunities nationwide.

Co-ownership splits the cost, responsibilities and use of an aircraft between two owners — a middle ground between full private jet ownership and fractional ownership. While aircraft co-ownership has always existed, Molloy says it was mostly a DIY setup between owners rather than having standardised contracts like in singular ownership.

How Molloy started Partners In Aviation

Molloy's idea came from frustration as an aircraft salesman. When buyers expressed interest in co-ownership, he said he dreaded the process. "OEM salespeople saw trying to figure out co-ownership as not worth the trouble," Private Jet Card Comparisons reports. Molloy found there was no easy way to help buyers figure out how to split aircraft costs, crew salaries and flight schedules.

Reflecting on his time at Beechcraft, Molloy told Private Jet Card Comparisons: "So for years, I tried to talk people out of it, thinking you know, gosh, that's not going to work. And there's a lot of problems with that that you're not aware of. At some point, I started thinking, gosh, so many people want that. Why am I saying no to them? You know, maybe there's a way to do this and do it well."

The matchmaking process

Molloy likens PIA's pairing process to dating, with the company acting as matchmaker. Non-owners in the same region are matched together to get to know each other and learn the legal intricacies of aircraft ownership.

The matchmaking takes about 90 days, with video calls — described as "Zoom dates" — allowing prospective co-owners to meet and chat. PIA prefers that co-owners live in the same region, within 30 to 40 minutes' flying time, to keep empty-leg repositioning costs low.

Once both potential co-owners are ready, they pick out and split the cost of buying the aircraft. Sometimes PIA's clients are current jet owners who want to split the costs of their existing aircraft.

In exchange for the matchmaking service, PIA charges a fee similar to a normal aircraft sales broker. When prospective owners are ready to proceed, they sign a three-year contract.

It is unclear from available reporting how many co-ownership matches PIA has completed since its founding or how many aircraft are currently in co-ownership arrangements facilitated by the company.