Many aircraft are bought by two or more people — spouses, business partners, or a flying partnership sharing costs. Adding a co-borrower can strengthen an application, but it also means both parties are on the hook and co-ownership needs a plan. Here's how financing with a co-borrower or partner works.
Key takeaways
- A co-borrower can strengthen the application by adding income or credit.
- Both are fully responsible for the loan — jointly and severally.
- Co-ownership needs an agreement covering costs, use, and exit.
- Lenders assess both borrowers' credit and finances.
How Lenders Assess a Co-Borrower
When two people apply together, the lender evaluates both borrowers' credit, income, and debt. A strong co-borrower can offset a weaker primary applicant — adding income to support the payment or credit to improve the tier. Note that lenders often look at the lower of the two credit profiles for pricing, so a co-borrower with weak credit can pull the terms down rather than up. Both parties typically sign as jointly and severally liable, meaning each is fully responsible for the entire loan.
Co-Ownership Structures
Beyond the loan, co-owners need to decide how they hold the aircraft — as individuals, as a partnership, or through an LLC — and how they share costs, scheduling, and decisions. An LLC can simplify liability and administration for a partnership; our LLC financing guide covers the structures. However you hold it, put the arrangement in writing.
Protect the Partnership With an Agreement
The most important step in any co-ownership is a written partnership or co-ownership agreement covering how costs (fixed and hourly) are split, how the aircraft is scheduled, how decisions and maintenance are handled, what happens if one owner wants out, and how the aircraft is valued for a buyout. A clear agreement prevents most partnership disputes. Loans, insurance, and the ownership agreement should all align — a broker and an aviation attorney can help you set it up.
Rates, terms, and figures in this article are illustrative examples for the 2026 market and are not offers of credit. Jaken Aviation is a licensed aircraft financing brokerage — a division of Jaken Finance Group — and does not make loan decisions. All financing is subject to lender approval. Tax information is general and not a substitute for advice from a qualified CPA.
Frequently Asked Questions
Can a co-borrower help me qualify?
Yes — a co-borrower can add income or credit to strengthen the application. But lenders often price on the lower of the two credit profiles, so a weak co-borrower can pull terms down. Both are fully responsible for the loan.
Are both co-borrowers responsible for the whole loan?
Typically yes — co-borrowers usually sign as jointly and severally liable, meaning each is fully responsible for the entire balance, not just half.
How should co-owners hold the aircraft?
As individuals, a partnership, or an LLC. An LLC can simplify liability and administration for a partnership. Whatever the structure, put the arrangement in writing.
What should a co-ownership agreement cover?
How costs are split, scheduling, decisions and maintenance, what happens if an owner exits, and how the aircraft is valued for a buyout. A clear written agreement prevents most disputes.
Buying With a Partner?
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