Co-ownership matchmaker Partners In Aviation (PIA) says the time it takes to match customers dropped to just two months.
The timeline included bringing together two customers for co-ownership of a single private aircraft and securing a management company.
“When we first brought managed co-ownership to the market in 2018, the concept was new,” founder and aviation veteran Mark Molloy said.
He added, “Taking what had in the past been an ad hoc, legally-intimidating, co-ownership search process and creating a coherent process for identifying, vetting, and introducing like-minded co-owners based in a common geographic region and getting them into the aircraft of their choice was a major ordeal.”
Critical to Partners’ success is a co-ownership structure created by top legal advisers. It protects both co-owners.
“When we started, this process could take up to six months or more to get the co-owners matched and wheels-up. That ‘Time-to-Match’ is the metric we measure ourselves by and what is top-of-mind for customers when it comes to co-ownership,” Molloy says.
PIA reports that they now have a “critical mass,” nationwide, of interested co-owner candidates to draw from and connect. They provide co-ownership in all turbine categories: turbo-prop, light-Jet, midsize, super-midsize, and large-cabin jets.
“For the end of Q1 2021, our time-to-match average is down to two months,” Molloy says.
He continues, “It’s a gratifying statistic, and underlines the acceptance, interest, and growing popularity of managed co-ownership.”
Matched partners fly from the same or nearby airports. They share the aircraft on an alternating schedule of weeks and holidays. Communications between co-owners are handled by the management company to streamline the process.