Shared-ownership arrangements are nothing new in aviation, but it’s rare for an aircraft manufacturer to offer such programs to buyers of new airplanes. Mooney International is testing the sharing-economy waters by teaming up with Partners in Aviation (PIA) to offer a program for new Mooney Acclaim and Ovation Ultras.
The manufacturer says MooneyShares co-ownership brings together two pilots from the same geographic location to own and operate a Mooney, cutting acquisition and fixed costs in half. Operators with “low-to-medium utilization” (defined by Mooney as 200 hours or less flying per year) will benefit most from the model, the company says.
PIA has “meticulously crafted” the MooneyShares model to mitigate the risk, access and exit details that have plagued other shared-ownership models where buyers work out all the details between themselves.
Calling itself the match.com for business aviation, PIA starts by building a profile of the customer that defines their mission, location, budget and desired aircraft. The company then initiates a campaign to help find a co-owner.
The MooneyShares program is being structured to coordinate aircraft scheduling and maintenance and address tax, legal and insurance issues.
“Sharing an airplane has always made economic sense, but until now other risks interfered,” said Jeff Magnus, Sales Manager at Mooney. “We are definitely excited to offer customers this cost-effective option.”