Partners in Aviation (PIA), recently formed by business aviation sales and marketing veterans Mark Molloy and Tom Bertels, is launching its principal offering, PIA Co-Ownership. The comprehensive program matches two prospective owners with low to medium usage requirements and based in a common geographical area, enabling them to own and operate a new or late-model aircraft at approximately half the cost of individual ownership.
During his 34-year career representing new Beechcraft products for the OEM, Molloy observed a trend. “Many owners would choose to fly older or less-capable aircraft – not because they couldn’t afford their ideal aircraft, but because they didn’t feel it was fiscally prudent to move up. These owners simply weren’t flying enough to cost-justify buying, even if there were compelling reasons.”
Believing co-ownership was a possible solution, Molloy and Bertels developed the PIA Co-Ownership concept and teamed with top aviation experts in legal, tax, management and maintenance to refine the structured, turnkey program that mitigates the challenges and risks inherent to typical partnerships. Molloy explained, “Despite the considerable economic benefits of a partnership, wisely, most operators would never have considered it. Our challenge was to structure a co-ownership program that conservative operators – and their legal counsel – would embrace.”
PIA Co-Ownership not only provides the lowest cost of ownership, it also delivers financial and tax autonomy, peace of mind, and aircraft access that rivals sole ownership.” Once the program was fully defined, PIA presented it to several of the most successful and respected aviation industry authorities for validation. “The response has been overwhelmingly positive, as proven by the caliber of the team of strategic partners and advisors who have chosen to join us,” said Molloy. “This gives us instant credibility and a high measure of confidence in our value proposition.”
The ongoing market evaluation has also confirmed that PIA Co-Ownership will have broad appeal – from single-aircraft turboprop operators to multiple-jet fleet operators, and even those considering aircraft ownership for the first time.
For OEMs and sales organizations it provides a new tool to offer customers struggling with cost justification. “We fill the gap between fractional and sole ownership, no matter what class of business aircraft an operator requires,” Molloy concluded. PIA provides a full complement of services for operators considering co-ownership:
- Co-owner identification, vetting and matching
- Proprietary ownership structure and documentation suite
- Mission analysis and aircraft selection
- Guaranteed Maintenance Plan
- Best-in-class aviation expertise and consultation—Legal, Tax, Maintenance, Aircraft and crew management
- Aircraft acquisition
- Aircraft sales and marketing
For complete information on Partners in Aviation and PIA Co-Ownership, visit www.www.partnersinaviation.com. About Partners in Aviation
Formed in April 2016, Partners in Aviation, LLC, provides business aircraft operators with low to medium usage requirements a structured path to their ideal aircraft – at approximately half the cost of individual ownership. Current strategic alliances include Jet Aviation, a General Dynamics Company (global aircraft services); JSSI (global hourly-cost maintenance provider); Aviation Tax Consultants, LLC (business aviation tax consulting); Cooling & Herbers (aviation-focused law firm); Aviation Advisors (regional aircraft and crew management); Guardian Jet (business-aviation asset management); L.J. Aviation (regional aircraft and crew management). PIA’s advisory board members are James Cooling (Managing Director and Attorney at Law, Cooling & Herbers, P.C.); Daniel Cheung (Co-Owner, Aviation Tax Consultants, LLC); Lou Seno (Chairman Emeritus, Jet Support Services, Inc.); and Jon Vesely (Owner/Pilot, Private Equity Investor, Chairman of the Board multiple companies).
Originally published on AVWeb on September 8, 2016.