Story ID: New offering also includes charter revenue potential
Partners in Aviation Launches Elite Program
By: Sarah Rose
Caption: New offering adds air charter income potential to help offset co-owners' costs
Word Count: 192
Partners in Aviation (PIA) has launched the Elite program, which combines its unique business aircraft co-ownership model with a charter revenue component. The Elite program is rolling out this month, starting with an Embraer Legacy 500 and four Phenom 300s that are now available for co-ownership.
PIA president Mark Molloy told AIN that the company strives to be an alternative to fractional programs for customers who want a less costly option by offering a co-ownership arrangement. And the Elite program aims to offset costs for the co-owners via charter income.
“When the two owners aren't using it and the owners allow for it, all these airplanes are going to be getting charter revenue as well. So we consider the charter the subservient third partner to every match of two people,” Molloy said.
“Most of our clients fly one to two trips a month. So they're actually technically in their airplane three or four, maybe five days every month,” he added. So with two owners flying not more than 10 days a month, that leaves about 20 days a month for charter flight opportunities, according to PIA.