Partners in Aviation, a new company formed by business aviation sales/marketing veterans Mark Molloy and Tom Bertels, has launched a matchmaking service for business aircraft co-ownership. Under the program, the company matches two prospective aircraft 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,” the company said.
“Many owners choose to fly older or less-capable aircraft—not because they can’t afford their ideal aircraft, but because they don’t feel it’s fiscally prudent to move up,” noted Molloy. “These owners simply aren’t flying enough to cost-justify buying, even if there are compelling reasons.” But with co-ownership it can be justified, he added.
The company thus teamed with aviation experts in legal, tax, management and maintenance fields to refine the structured, turnkey program, which mitigates the challenges and risks of partnerships. “Our challenge was to structure a co-ownership program that conservative operators—and their legal counsel—would embrace,” Molloy said. “We fill the gap between fractional and sole ownership.”
Its services under the program include co-owner identification, vetting and matching; ownership structure and documentation; mission analysis and aircraft selection; guaranteed maintenance plan; aviation legal, tax, maintenance and aircraft and crew management expertise and consultation; aircraft acquisition; and aircraft sales and marketing.
Article by Chad Trautvetter originally published by AIN Online on October 6, 2016.