Modern Aviation Completes Hangar and FBO Complex at Centennial Airport – KAPA

March 3, 2023 – Denver, CO. – Modern Aviation announced the completion and grand opening of its upgraded and expanded FBO campus at Centennial Airport in Denver, Colorado. The upgrade and expansion project includes the addition of two new heated 28 ft-door hangars, a Class A FBO terminal and an expanded ramp.
The nearly $23 million complex features a 7,000 square foot FBO terminal, two large hangars encompassing more than 52,000 square feet, 4,000 square feet of attached office space and 150,000 square feet of new ramp area. The completion of this project more than doubles Modern Aviation’s footprint at Centennial Airport.
“This development enhances our presence at Centennial Airport, one of the busiest business aviation airports in the country,” stated Mark Carmen, CEO of Modern Aviation. “Our state-of-the-art FBO facility includes top tier amenities and was carefully designed with pilots and passengers in mind and allows Modern Aviation to better serve our customers today and well into the future. The facilities include the latest web conferencing capabilities in the conference room, eight individual snooze areas for optimal relaxation and many other convenient amenities.”
In addition to concepts of comfort, significant attention was placed on integrating sustainability features into the complex. This includes four EV car charging stations; the steel structure used has a 20% reuse
factor built in; and the hangars/FBO terminal are up to some of the highest standards regarding energy savings and low emissions including:
• Low water usage plumbing fixtures;
• LED lighting with day lighting functions;
• High efficiency mechanical units with thermostats/temperature sensing devices;
• Low E storefront systems;
• Efficient building envelope; and
• Interior finishes that are LEED green and cradle to cradle certified.
Modern Aviation hosted its tenants and other customers, airport staff, suppliers and its development team at a grand opening party at its new FBO terminal on February 28th.

About Modern Aviation
Modern Aviation is a growing company that is building a national network of premium FBO properties. Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality and industryleading safety. Modern Aviation is backed by the growth-oriented infrastructure private equity fund, Tiger Infrastructure Partners. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean. For more information visit: https://modern-aviation.com.

Modern Aviation Closes the Acquisition of Three FBOs in the Northeast

Februrary 23, 2023 – New York, NY. – Modern Aviation has closed the acquisition of three FBOs in the Northeast – Mystic Jet Center, LLC, which operates Mystic Jet Center at Groton-New London Airport in Groton, CT (KGON), Columbia Air Services-BHB, LLC, which operates Columbia Air Services at Hancock County-Bar Harbor Airport in Trenton, Maine (KBHB), and Columbia Air Services-RUT, LLC, which operates Columbia Air Services at Rutland Southern Vermont Regional Airport in Rutland, VT (KRUT) from their two owners.

Modern Aviation’s CEO Mark Carmen, stated, “We are thrilled to have officially expanded our footprint in the Northeast. On behalf of Modern Aviation, I’d like to extend a warm welcome to our new team members and customers at these three terrific locations. We look forward to continuing Mystic Jet Center’s and Columbia Air Services’ history of providing outstanding customer service and safety.”

All the employees of the three entities have joined Modern Aviation.

With the addition of these three locations, Modern Aviation operates 16 FBOs in North America, including ILM, APA, BFI, SIG, JFK, LGA, ISP, FOK, FRG, MHR, SAC, SMF and DSM.

About Modern Aviation
Modern Aviation is a growing company that is building a national network of premium FBO properties. Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality and industryleading safety. Modern Aviation is backed by the growth-oriented infrastructure private equity fund, Tiger Infrastructure Partners. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean. For more information visit: https://modern-aviation.com.

Contact:
Modern Aviation, Emmanuel Yapo eyapo@modern-aviation.com

Modern Aviation Commits to Achieving Carbon Neutrality for Scope 1 and 2 Emissions by 2050

February 15, 2022 – New York, NY – In support of its ongoing sustainability efforts, Modern Aviation is pleased to announce that it has developed a strategy to achieve carbon neutrality for Scope 1 and Scope 2 emissions and is committed to achieving carbon neutrality for Scope 1 and Scope 2 emissions by 2050.

The Company has identified a range of potential opportunities to incrementally reduce emissions through more effective energy management. These opportunities include improved hangar insulation, installation of LED lighting, improved lighting controls, increased daylighting in hangars and offices, in-slab radiant heating for hangars in cold-weather regions, on-site installation of solar PV systems, procuring renewable energy sources as provided by local utility providers, and conversion to electric ground support equipment. Modern is committed to pursuing these improvements at its FBOs where feasible, and to offsetting any remaining Scope 1 and Scope 2 emissions with legitimate, high quality carbon offsets.
The Company has also developed a formal strategy aimed at reducing the Scope 3 emissions associated with the aviation fuel used by its customers. While Modern believes this strategy will evolve over time in response to changes in aviation and fuel technology, as well as industry practice, this multi-faceted approach will initially include:

• Expanding the offering of sustainable aviation fuel (SAF) to all its FBO locations as soon as practical and increasing SAF as a percentage of its total fuel sales across its network. Modern currently offers SAF at its Sacramento Mather Airport location FBO;
• Increasing the percentage of SAF in blended fuel over time;
• Implementing a book-and-claim system to provide an SAF option for customers in locations where SAF is not physically available; and
• Continuing to offer high-quality carbon offsets to customers (partially subsidized by Modern) on a voluntary basis through its Carbonfund.org carbon offset program

In partnership with its fuel suppliers, Titan Aviation Fuels and its SAF partners, Modern launched SAF at its Mather Airport FBO in Sacramento, CA in 2023 and intends to roll out SAF to its other airport locations in the future.

Another element of Modern’s sustainability strategy is the electrification of Company vehicles and ground support equipment over time. Earlier this month, the Company placed its first order for a 5,000-gallon electric fuel truck from Rampmaster, which it expects to be delivered in the first quarter of 2024. Further, Modern will be offering Tesla rental cars through its partnership with Hertz throughout its network. These vehicles are currently available at Modern Aviation’s FBO at Centennial Airport (KAPA) just outside Denver, CO.

Mark Carmen, CEO of Modern Aviation stated, “Since we founded the Company in 2018, we’ve continuously focused on implementing industry leading methods to reach our sustainability goals as well as enabling our customers to do the same in the most economical way possible. We began offering our carbon offset program in October 2019 and now we are proud to be committing to become carbon neutral as a Company by 2050. Offering SAF to our customers in California, being an early adopter of electric refuelers and providing EV rental vehicles is just the beginning of our efforts to increase our commitment to sustainability. This is an important initiative to Modern, our team members and our customers.”

About Modern Aviation
Modern Aviation is a growing company that is building a national network of premium FBO properties. Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality and industry-leading safety. Modern Aviation is backed by the growth-oriented infrastructure private equity fund, Tiger Infrastructure Partners. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean. For more information visit: https://modern-aviation.com.

Contact:
Modern Aviation, Emmanuel Yapo eyapo@modern-aviation.com

From Left to Right: : Representative, Jose Pérez; Senator, William Villafañe; Senator, Gregorio Matías; Governor of Puerto Rico, Pedro Pierluisi; CEO of Modern Aviation, Mark Carmen; Executive Director of the Puerto Rico Ports Authority, Joel Piza; Senator, Nitza Morán; and Representative, José Pichy Torres Zamora.

Modern Aviation Celebrates Groundbreaking of Hangar Development Project in San Juan, PR

January 12, 2022 – San Juan, PR. – Modern Aviation broke ground on a new $17 million hangar development project at Fernando Luis Ribas Dominicci Airport (Isla Grande Airport/TJIG) in San Juan, Puerto Rico. The project includes the construction of two 24,000 square feet hangars with 28-foot-high doors capable of accommodating the largest business jets. The hangars are being constructed to withstand adverse weather like severe hurricanes and even earthquakes with a geo-pier foundation system, and will utilize energy efficient lighting and mechanical systems. Modern expects the first hangar to be completed in Q4 2023 and the second hangar in Q1 2024.

Modern Aviation hosted a groundbreaking ceremony on the morning of January 12, 2023. In attendance was Puerto Rico Governor Pedro Pierluisi and Joel Pizá-Batiz, the Executive Director of the Puerto Rico Ports Authority.

“Every time we celebrate a new beginning like this one, we reaffirm the very best of what our Island has to offer the entire world: productivity, experience, expertise, fighting spirit, resiliency, vision, discipline, and the hope for a better future for our families and our community. As Governor of Puerto Rico, and on behalf of all our people, I want to express to all of you at Modern Aviation—employees, associates, contractors, managers, owners, and customers—my heartfelt congratulations and appreciation for your enterprising vision in the improvement and expansion of these facilities which are about to commence”, said Governor Pierluisi.

“We’re counting on you, and you can count on my administration and me for the support you might need, now and in the future, in what we are all certain will be a very successful endeavor in the years to come”, added Pierluisi.

For his part, Pizá-Batiz praised the groundbreaking event, which he regarded as “a new chapter in Modern Aviation’s time-tested relationship with Puerto Rico.” “The Puerto Rico Ports Authority is fully supportive of projects aligned with this government’s public policy of maximizing the utilization of our assets by seeking the expansion of airport infrastructure and the services provided therein. In that spirit, it is with utmost joy that we welcome Modern Aviation’s newest project of raising state-of-the-art hangars at the Isla Grande Airport to meet the ever-growing demand for aircraft storage”, asserted Pizá-Batiz.

Modern Aviation’s CEO Mark Carmen, said, “We are very excited to be launching this new project at Isla Grande Airport in San Juan. These two additional hangars will be the first hangars at the airport capable of holding heavy business jets, which have previously had to remain on the ramp. Modern’s FBO at Isla Grande has numerous advantages for private jet customers, including the ability to drive on the ramp to and from their aircraft and the easiest access from the main roads in San Juan of any FBO in the area.”

The project is being led by Business Aviation Group, based in Centennial, CO as project manager, partnering with general contractor, Desarrollos Metropolitanos, LLC, AIR Architects, and Inspector, Felix Reach, all of whom are based in San Juan.

About Modern Aviation
Modern Aviation is a growing company that is building a national network of premium FBO properties. Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality and industry-leading safety. Modern Aviation is backed by the growth-oriented infrastructure private equity fund, Tiger Infrastructure Partners. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean. For more information visit: https://modern-aviation.com.

Contact:
Modern Aviation, Emmanuel Yapo eyapo@modern-aviation.com

Modern Aviation Enters Into a Definitive Purchase
Agreement to Acquire Three FBOs in the Northeast

October 13, 2022 – New York, NY. – Modern Aviation announced it has executed a definitive purchase agreement to acquire Mystic Jet Center, LLC, which operates Mystic Jet Center at Groton-New London Airport in Groton, CT (KGON), Columbia Air Services-BHB, LLC, which operates Columbia Air Services at Hancock County-Bar Harbor Airport in Trenton, Maine (KBHB), and Columbia Air Services-RUT, LLC, which operates Columbia Air Services at Rutland Southern Vermont Regional Airport in Rutland, VT (KRUT) from their two owners.

Modern Aviation’s CEO Mark Carmen, stated, “We are excited to have the opportunity to continue to grow and expand our presence in the northeast. All three locations are in attractive growing markets and have a long track record of outstanding customer service and safety provided by their experienced and long tenured professionals.”

All of the employees of the three entities will remain with Modern Aviation post acquisition.  Collectively, the three operations will add more than 161,500 square feet of leasable hangar and office space to Modern Aviation’s portfolio.

KGON is located in the Town of Groton, CT near New London’s city center and in the Mystic region, a popular tourist destination. KRUT is located in proximity to Vermont tourist destinations, including Manchester, Brandon, Castleton, Killington and Okemo. KBHB is the closest airport to Bar Harbor, ME and Acadia National Park.

Mr. Carmen added, “These locations will bring our FBO network to 16 locations in the U.S. and Puerto Rico, up from just three locations twelve months ago. I’m proud of our team’s ability to seamlessly integrate all of these acquisitions and all of our new colleagues into the Modern Aviation family and culture.”

Modern Aviation expects the transaction to close in the fourth quarter of 2022.

About Modern Aviation
Modern Aviation is a growing company that is building a national network of premium FBO properties. Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality and industryleading safety. Modern Aviation is backed by the growth-oriented infrastructure private equity fund, Tiger Infrastructure Partners. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean. For more information visit: https://modern-aviation.com.

Contact:
Modern Aviation, Emmanuel Yapo eyapo@modern-aviation.com