Through the program, managed by Pentastar Aviation regionally, PIA will match two prospective owners with low to medium usage requirements, based in a common geographical area, for joint ownership, and cost sharing of a new or late-model aircraft.
The program will cut the cost of ownership in half, ease the burden of scheduling and maintenance, provide for autonomy in tax and title, and ensure an exit plan, company officials note.
“Partners in Aviation is a sensible option for aircraft owners who fly less than 200 hours per year. It allows for the purchase of an airplane to travel on their schedule at half the cost,” said Greg Schmidt, President & CEO of Pentastar Aviation.
Partners in Aviation was formed in 2016 by Mark Molloy and Tom Bertels, who wanted to create a way for aircraft operators to afford newer and upgraded aircraft, even if they were only flying 200 hours or less.