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PIA says customers' appetite to co-own is increasing
According to PIA founder and aviation veteran Mark Molloy, it initially took six months or more to get co-owners matched and wheels up. But at the last count, the company managed to cut this time to two months.
A business jet recently acquired for co-ownership by Partners In Aviation.

Partners in Aviation (PIA), a US developer of managed co-ownership, which matches two owners to one aircraft, allowing them to operate for half the cost of traditional private aviation options, has released statistics that point to significant growth in the co-ownership sector and, specifically, a reduced timeline for successfully matching interested co-owners and pairing matches with an appropriate professional management company.

“When we first brought managed co-ownership to the market in 2018, the concept was new,” says PIA founder and aviation veteran Mark Molloy. “Taking what had in the past been an ad hoc, legally-intimidating co-ownership search process and creating a coherent operation was a major undertaking. The process includes identifying, vetting and introducing like-minded co-owners based in a common geographic region and getting them into the aircraft of their choice. The key was developing the legal structure, created by our industry's top aviation counsel, that protected both co-owners and was credible to their in-house counsel.”

According to Molloy, the process initially took six months or more to get co-owners matched and wheels up. “That time-to-match is the metric we measure ourselves by and what is top-of-mind for our customers when it comes to co-ownership,” Molloy adds.

PIA reports that it now has a critical mass in the US of interested co-owner candidates to draw from and connect, allowing PIA to more-quickly accommodate matches in any region of the country. It provides co-ownership in all turbine categories: turboprop, light jet, midsize, super-midsize and heavy jets.

“For the end of Q1 2021, our time-to-match average is down to two months. It's a gratifying statistic and underlines the acceptance, interest and growing popularity of managed co-ownership,” Molloy confirms.

With private aviation firms across the board reporting substantial numbers coming into the new year, that surge of activity has only served to bolster PIA's activity.

He concludes: “It is truly an instance of a rising tide lifting all boats. Our inquiries continue to climb and as the programme has matured, this reduced time-to-match allows us to provide co-owner candidates a more efficient experience. It is still a process. Unlike a jet card or membership solution, this is ownership. But at half the net cost-per-hour, the value proposition is worthy of investing in that time frame.”

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