Partners in Aviation (PIA), a US company that matches two owners to share one aircraft, has reported a significant shift in its client base: whole aircraft owners nationwide are increasingly opting to bring on a partner to co-own their plane as opposed to selling their whole aircraft.

Previously, most PIA Managed Co-Ownership partnerships involved matching two non-owners (jet-card or membership users) seeking to step up into ownership at half the cost. Now, many of PIA's clients are sole-owners looking to sell half of their under-utilised aircraft.

“In the earlier days of the programme, 80 per cent of our matches were two non-owners coming together and only 20 per cent involved matching a current owner with a non-owner," says president Mark Molloy. “Today, the percentage has shifted to 50 per cent with a clear trend of current owners choosing co-ownership as opposed to selling their aircraft.”

This trend indicates a broader change in how private aircraft owners manage their assets.

“Aircraft owners carrying the 100 per cent cost burden of sole-ownership yet flying less than 150 hours a year are reconsidering the economics,” continues Molloy. “In the past, sole-owners would employ a charter manager to relieve some of the burden but still shouldered 100 per cent of the capital and fixed operating costs. Or they would reluctantly sell their aircraft and move to a fractional or membership model that proved less than ideal. Now, at an increasing rate, they are finding co-ownership to be a better option.”

PIA Managed Co-Ownership offers aircraft owners access comparable to sole-ownership while splitting the costs.

“Our model allows owners to access their aircraft 25 or more days a month at half the cost, presenting a compelling value proposition for those who do not require full-time use of their plane," says Molloy.

Simon Elliott, a Florida resident and long-time aircraft owner, was not considering co-ownership when he ordered his 2023 Praetor 600 two years ago. “My industry advisor introduced me to PIA and suggested its programme might interest me. Initially, I was reluctant, but its legal team and structure made me comfortable with the model, and I liked the maths,” he says. “I could choose my pilots and manager, which was crucial to me, and the co-owner it introduced me to is a great fit. I now have the aircraft I ordered at half the original cost.”

Bruce Bonafiglia, a former Challenger 350 owner in New York, now co-owns a new Challenger 3500 through PIA. “The entire process with PIA was highly satisfactory,” he says. “The programme aligned with my limited usage needs, and PIA introduced me to an excellent co-owner. I value the proposition of splitting both the capital and operating costs.”

The industry is moving towards more efficient and cost-effective solutions as sole-owners recognise co-ownership's financial and operational advantages. PIA Managed Co-Ownership's growth reflects this shift, providing a model that balances access and affordability for those who fly between 50 and 150 hours per year.