Business Pairing Service Connects Duos Seeking Co-Ownership of a Private Aircraft
In the skies above North America, a unique partnership is taking flight. Partners In Aviation (PIA), founded in 2016 by Mark Molloy, a seasoned business aircraft salesman turned entrepreneur, is revolutionising the way private jet ownership works.
PIA acts as a matchmaking service, connecting wealthy individuals looking for a 50% co-owner for their private aircraft. The company does not own, operate, or broker any aircraft, but rather facilitates introductions between potential buyers and current owners.
Once a match is made, the co-owners are required to sign up with an outside aircraft management company for travel scheduling, maintenance, crewing, and cost reconciliation. This partnership ensures smooth operation and cost-effectiveness for the co-owners.
PIA's success rate is impressive, with an 80% success rate in finding compatible co-owners within 60-90 days. This efficiency is partly due to Molloy's tenacity and extensive industry contacts.
The company's service extends beyond just the matchmaking process. PIA has developed contract templates for aircraft co-owner relationships and assists in the acquisition of the aircraft that best fits the shared needs and preferences of the co-owners.
PIA's clients often fly non-business leisure trips, allowing flexibility in scheduling. Key points during each co-owner's 3-year commitment include entity structure, tax benefits, and terms for early termination or contract extension.
The company operates in the U.S. and Canada, and co-owners can decide together if they'd like their plane to be chartered out when not in use. PIA's matches have a high success rate in withstanding the test of time, with many clients forming close friendships and even co-owning a vacation home together.
PIA's tagline, "Your Airplane. Your Schedule. Half The Cost," encapsulates the essence of their service. Most clients of PIA settle on light and super-midsize business jets, making private jet travel more accessible and affordable.
The service requires a 6-month contract to find a match, for which a small fee is charged in advance. This fee is refundable if a match is not made (less any marketing costs). PIA charges a one-time success fee only if it successfully matches two owners to one aircraft.
The majority of PIA clients have previous private aviation experience, making the transition to co-ownership smoother. They share fixed costs such as the monthly management company fee, insurance, hangar, and maintenance.
PIA adds value by smoothing the process and finding the perfect match, without suggesting proprietary or patentable methods. This approach has proven successful, with the majority of PIA clients enjoying the benefits of shared private jet ownership.
[1] Information sourced from Partners In Aviation's official website and company statements.
In the realm of aviation industry and business, Partners In Aviation (PIA) offers a unique service by facilitating fractional ownership of private jets between wealthy entrepreneurs, revolutionizing the traditional private jet ownership model. This company, operated by Mark Molloy, a seasoned business aircraft salesman turned entrepreneur, leverages his extensive industry contacts to successfully match potential co-owners in as little as 60-90 days, with an impressive 80% success rate. PIA's service, which includes assistance in acquiring, structuring, and managing the co-owned aircraft, adds value to the transportation sector, particularly among clients who value flexibility and affordability in private jet travel.
