Partners In Aviation (PIA), which has developed a “managed co-ownership” model that matches two owners to one aircraft, is seeing that business continue to grow. PIA noted that its time-to-match aircraft owners metric has dropped from the initial six months to just a couple of months.
“When we first brought managed co-ownership to the market in 2018, the concept was new,” said 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,” he said. According to Molloy, that process involves identifying, vetting, and introducing like-minded co-owners based in a common geographic region, and then getting them into an aircraft they choose.
PIA believes it now has built a “critical mass” of interested co-owner candidates nationwide, significantly reducing the time it takes to pair owners. That ownership has crossed turbine categories, the company added, including turboprops and jets from light to heavy.
“At the end of the first quarter, 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,” he said. “Our inquiries continue to climb.” As the program matures and more owners come in, Molloy said they are having a “more efficient experience.”