Partners In Aviation (PIA) reported that it has completed 15 new co-ownership agreements, matching 30 aircraft co-owners, in the past 120 days. The Chicago-based firm developed a managed co-ownership model that pairs two owners to one aircraft.
Under these new agreements, owners have been placed in a range of business aircraft, from light jets such as the Phenom 100 and Citation M2 to super-midsize and large-cabin models, including a Bombardier Challenger 604 and Dassault Falcon 900LX. The new co-owners’ aircraft will be based in 15 states.
In one example, PIA matched co-owners to three Phenom 300s during the three-month period. And it has made another Phenom 300 match that is scheduled to close next month.
“The ongoing interest in private aviation, in general, is yielding groundbreaking results for the industry,” said PIA founder Mark Molloy. “Our recent growth underscores how interest in and adoption of PIA’s managed co-ownership program is resonating with private aviation users. Many of our customers were previously traveling via charter or jet card and were looking for a better value proposition. Because we now have a volume of co-owner candidates throughout the country, the program works, and works well, for the full spectrum of business aircraft.”