Lots of companies start with an idea. Ours started with a challenge.
Throughout a three-plus-decade career in new turbine-aircraft sales with a major OEM, Mark Molloy noticed that owners with low to medium usage requirements would often choose to fly older or less-capable aircraft — not because they couldn’t afford what they really wanted, but because they didn’t feel it was fiscally prudent to move up.
Through daily interaction with owners navigating the purchasing process, and non-owners trying to come to grips with the cost of ownership, Molloy saw a recurring trend: the key to a customer becoming comfortable with moving into the right airplane was to help that customer cost-justify the acquisition. Of all the ownership options available, co-ownership offered the strongest financial path — but the major issues that plague typical partnerships made them unappealing to most mainstream owners. Despite the significant cost advantage, most partnerships Molloy observed were notorious for their complications, risks and entanglements. The challenge to solve those issues became the genesis of Partners in Aviation (PIA). The goal was to develop a structured program that offers the financial advantages of a partnership with the independence, and peace of mind, that come with sole ownership.
Molloy partnered with longtime friend and aviation-marketing veteran Tom Bertels, and they consulted top aviation experts in finance, legal, tax, aircraft management and maintenance. The team went to work identifying the weak spots inherent to DIY partnerships and designed a program to mitigate them. In addition to satisfying operators, they fully intended their new program to be a tool that OEMs and major aircraft brokerages would offer their customers reluctant to move up.
The result is PIA Co-Ownership: A smart, comprehensive ownership solution that effectively addresses all the challenges potential customers face. Over 30 years in the making, Partners in Aviation was officially launched on September 7, 2016, to overwhelmingly positive reaction and industry support.