PIA Provides Path to Factory-New Aircraft at Half the Cost – Without the Wait

Partners In Aviation Recently Completed Matches for New 2023 Bombardier Challenger 3500 and 2023 Embraer Praetor 600

Originally Published in: Business Air News | Private Jet Card Comparison | AvWeb

Partners in Aviation (PIA), the company that matches two owners to share one aircraft, allowed two recent customers to skip the current two-year waiting list involved in ordering a new plane. PIA President Mark Molloy announced Tuesday that the company recently completed two new co-owner matches for a Bombardier Challenger 3500 and an Embraer Praetor 600.

“We have owners across the country interested in bringing on a co-owner to share their aircraft and split the cost,” said Molloy. “The program, PIA Managed Co-Ownership, allows non-owner candidates to skip the waiting process and get into a new or used aircraft immediately. Because our clients typically fly 100 hours per year, both owners can fly all their trips – at half the cost.”

Bruce Bonafiglia, former Challenger 350 owner based in New York, now co-owns a new Challenger 3500 through PIA. 

“The entire process with PIA couldn’t have been more satisfying from my end,” said Bonafiglia. “The program made sense based on our limited usage, and PIA introduced me to a wonderful co-owner. I’ve owned several aircraft and appreciate the value-proposition of splitting the capital and operating costs.” 

Simon Elliott, a Florida resident and long-time aircraft owner, was not considering co-ownership when he first ordered his 2023 Praetor 600 two years ago.

“My industry advisor introduced me to PIA and suggested their program might interest me. Initially, I was reluctant, but their legal team and structure made me comfortable with the model, and I liked the math,” said Elliot. “I could choose my pilots and manager, which was crucial to me, and the co-owner they introduced me to is a great fit. I now have the aircraft I ordered at half the original cost.”

PIA Managed Co-Ownership, founded in 2016, matches co-owner candidates in the same region and provides the legal construct that allows two owners to securely share one aircraft. The program appeals to users flying 50-150 hours per year who prefer ownership to membership and satisfies the stringent requirements of the FAA and the IRS. Customers can enter the program as current owners looking to sell half of their plane or non-owners seeking a 50 percent interest in their chosen aircraft. 

“It took several years for our client base to reach scale, but we now have matches flying coast-to-coast and vetted co-owner candidates ready to be matched in every region of the country,” said Molloy. “Most of our clients choose pre-owned, but we are seeing an uptick in new aircraft customers due partly to the OEMs’ two-year backlog.”

The majority of PIA clients come from membership and jet-card programs. 

“They are ready to move beyond their current membership program but aren’t flying enough to justify whole ownership. The economics of co-ownership just makes sense to them,” said Molloy.

PIA has co-ownership opportunities in every turbine category, from turboprop and light jets to mid, super mid, and heavy jets, and they work with all major OEMs.