PIA matches two owners to share one aircraft and pairs them to an aircraft manager. Owners fly their aircraft, on their schedule at half the cost of traditional private aviation options, said the company. “We have owners across the country interested in bringing on a co-owner to share their aircraft and split the cost,” said Mark Molloy, president, PIA. “The programme, 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.”

Launched in 2016, PIA Managed Co-Ownership plan matches co-owner candidates in the same region and provides the legal framework that allows two owners to securely share one aircraft. The programme is said to appeal to users flying 50-150 hours per year who prefer ownership to membership. And it complies with the requirements of FAA and Inland Revenue Service (IRS). Clients can enter the programme as current owners looking to sell half their aircraft or non-owners seeking a 50% interest in an aircraft. The company offers co-ownership opportunities in every turbine category, from turboprop and light jets to mid, super mid, and heavy jets and works with major OEMs.

Simon Elliott, a Florida resident and experienced aircraft owner, did not consider co-ownership when he  ordered his 2023 Praetor 600 two years ago. But Elliott reconsidered when his adviser suggested the PIA  programme. “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.”

Another jet owner who tried the PIA co-ownership programme is Bruce Bonafiglia, a former Challenger 350 owner based in New York, who now co-owns a new Challenger 3500. “The programme made sense based on our limited usage, and PIA introduced me to a wonderful co-owner,” said Bonafiglia. “I’ve owned several aircraft and appreciate the value-proposition of splitting the capital and operating costs.”

It took several years for PIA’s client base to reach scale, acknowledges Molloy. “But we now have matches flying coast-to-coast and vetted co-owner candidates ready to be matched in every region of the country.” he said.

Most PIA clients come from membership and jet-card programmes, he added. “They are ready to move beyond their current membership programme but aren’t flying enough to justify whole ownership. The economics of co-ownership just makes sense to them,” said Molloy.

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IADA executive director Wayne Starling said: “These three excellent companies, like all of our Verified Products and Services members, have been thoroughly vetted to assure adherence to the highest standards of ethical behaviour and skilled aviation expertise.”

Elliott Aviation is the parent company of accredited IADA aircraft dealer member Elliott Jets, while Partners in Aviation and Tamarack Aerospace are new to the organisation, but well-known in business aviation, he added.

IADA Products and Services members are companies focusing mainly on supporting business aircraft and pre-owned aircraft transactions, whether their expertise is finance, legal, tax, escrow, marketing or maintenance. The membership application process for Products and Services membership begins with an applicant completing an application. As part of the application process, candidates contact three IADA members to ask for their support as a sponsor. The IADA membership votes on new Products & Services applicants twice a year. Read more details about the new members below.

Meanwhile, earlier this month IADA has appointed David Monacell as chairman and Zipporah Marmor as vice chairperson of the board for the coming year. Read more about the appointments here.

Elliott Aviation

• *Diversified aviation services company with three Midwest locations in Minneapolis, Des Moines and Moline
• *Parent company for Atlanta-based MRO, The Maintenance Group
• *Celebrating its 85th year.

Partners in Aviation (PIA)

• *Offers a structured co-ownership programme for operators flying 50-150 hours per year
• *PIA managed co-ownership matches two owners to one aircraft and pairs them to the appropriate aircraft manager. Owners fly their aircraft, on their schedule, at half the cost of traditional private aviation options
• *Provides legal structures, designed and vetted by industry’s top legal counsel.

Tamarack Aerospace Group

• *Developed the aftermarket winglets market with its Active Winglet technology
• *Tamarack has expanded from headquarters in Sandpoint, Idaho, and operates in additional transformation centers in Aiken, South Carolina and Oxford, UK
• *Holds more than 30 patents as it continues to develop aviation innovations and supporting a growing international fleet of aircraft.

Earlier this month, IADA appointed Zipporah Marmor as vice chairperson of the

board for the coming year and David Monacell as chairman. Read more here.

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“My aviation career started with a 20-year run at Cessna Aircraft Company, which included 11 years with Cessna Finance Corporation,” said Bridges. “My experience in contract administration, sales and aircraft lending gives me unique and pertinent insight into aircraft purchasing and financing. My new role with Partners In Aviation brings that involvement full circle, pivoting my inside knowledge to bear to support customers on the acquisition side. I’m thrilled to be a part of the team.”

Bridges also recently served as vice president, Aviation, for Bank OZK, based in Chicago, where he led turbine-lending efforts for a 13-state region of the Midwest. As regional sales director for Textron Aviation in Chicago, Bridges tallied $202m in new Cessna Citation and Beechcraft King Air sales for his region.

Partners In Aviation founder and President Mark Molloy, said: “Perry just brings a wonderful and singular skill mix and attitude to Partners In Aviation at this important time in our story. His experience and expertise will add volumes of benefit for our aircraft co-owners as we continue our market growth and PIA Managed Co-Ownership becomes a more and more popular aircraft solution.”

A native of Wichita, Kansas, Bridges holds both bachelor (accounting) and masters (MBA) degrees in business administration from Wichita State University. Bridges lives in Geneva, Il, with his wife and three daughters.

“Flying privately as an aircraft co-owner for a lower cost not only allows business owners to grow faster and more efficiently, it delivers a way to better enjoy the successes of life,” Bridges concludes. “Managed Co-Ownership gives you all the access at half the cost. Partners In Aviation provides the formula for all of this to occur. I’ve been a big believer in the success of this program ever since Mark Molloy first told me about his plan to bring a fully realised co-ownership product to the market…it’s brilliant.

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The self-termed ‘match-dot-com’ of business aircraft, PIA Managed Co-Ownership matches two owners to one aircraft, connects them to an appropriate management company, and provides a legal structure for them to operate. PIA provides the match, the aircraft and the structure that allows operators flying from 50 to 150 hours-per-year the ability to fly their aircraft, with their crew – it reports at half the cost of sole-ownership or jet-cards.

Molloy told CJI: “Matches we were working on in mid-March were stopped in their tracks, when the country shutdown virtually overnight. As it became clear travel was going to be limited, and in some cases prohibited, our activity dropped by about two-thirds for a period of 90 days. But after 3 months, our inbound calls and website hits came back to where we were in early spring. We are fortunate to now have more PIA Co-Owner opportunities than we did, pre-Covid.”

PIA said it is clear from the bounce-back in charter and jet-card activity, that people who have been cooped up for months are now ready to get some semblance of normalcy back.

“We are benefiting from this same ‘covid-bump’ that other shared-ownership programs in our industry are seeing. Those flying less than 50 hours are moving to jet-card and membership models. Those flying more than 50 hours are finding co-ownership to be a more compelling value proposition.”

PIA is witnessing re-engagement from customers who originally contacted a year or two ago, investigating options, but never made a move. Often, PIA said, they have flying elsewhere either via charter or jet-card, but as flying starts to increase beyond 50hrs, these people are looking for a more cost-effective option.

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