Page 20 - Demo

Previous Options for Low-Time Users
Like Scatliff, many low-time users are drawn to the idea of owning their own aircraft but find cost-per-flight- hour to be unjustifiably large. Apart from sole-ownership, operators flying less than 200 hours per year have a handful of options to consider: char- tering out their airplane, fractional ownership, jet-card membership or a traditional partnership.
While splitting the acquisition and fixed costs of aircraft ownership in a traditional partnership makes more financial sense, operators are under- standably intimidated by the inherent risks and entanglements that cause many traditional partnerships to end poorly. Pitfalls could include schedul- ing conflicts, lack of protection against partner default and no clear exit plan.
According to PIA, the program was created with the help of industry professionals to redefine partnerships so customers can experience the finan- cial benefits without the dangers. The result: managed co-ownership.
Phase 1: Finding Chris a Match
Traditional partnerships often begin with people who already have a rela- tionship. In this model, PIA researches and analyzes potential partners based solely on geographical area and needs.
“It’s a tall order to find a person will- ing to pony up half for the airplane you’ve chosen,” said Molloy. “This is PIA’s specialty. We’ve built a company to do just that.”
Considering themselves “Match.com” for business aviation, PIA begins their services by building a profile of the cus- tomer that defines their mission, loca- tion, budget and desired aircraft. They then run a campaign, engaging a net- work of industry experts to help find a co-owner B.
“It was only a matter of time before I was contacted with a potential match – a business owner in South Florida look- ing for a similar aircraft,” said Scatliff. “PIA arranged for us to meet over lunch where we found out we shared similar frustrations over the cost of chartering. He mentioned he had been part of a tra- ditional partnership that ended poorly. Needless to say, both of us were ready for a new solution and this seemed to be it.”
Phase 2: Acquiring the Aircraft
With letters of intent signed by both parties, PIA began the process of assist- ing in the purchase of the aircraft.
“We have specialists in each category of business aircraft, from single-engine turboprops to heavy jets. They track
A match in progress – the PIA team assists the partners at a service center.
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18 • TWIN & TURBINE
June 2018