Modern Aviation Closes the Acquisition of FBO assets from
Sheltair Aviation at Francis S. Gabreski and Republic Airports

September 1, 2022 – New York, NY. – Today, Modern Aviation announced it has closed the acquisition of the FBO assets and operations at Francis S. Gabreski Airport (“FOK”) and Republic Airport (“FRG”) from Sheltair Aviation, the nation’s largest privately-owned aviation network.

First announced in late third quarter of 2021, the agreement has officially received all government approvals needed to allow Modern Aviation to take over operations at FOK and FRG.

Modern Aviation’s CEO, Mark Carmen, said, “We are excited to be closing on our last two acquisitions of Sheltair locations in New York. On behalf of our whole team, I would like to extend a warm welcome to our new teammates and customers to the Modern Aviation  family.”

All the local Sheltair employees have joined Modern Aviation.

Carmen continued, “We believe that increasing our presence in New York will allow us to better  serve our customers in the Northeast. All five of our bases in New York have tremendous growth potential. We look forward to building long-term relationships with Suffolk County and its airport administration and the New York State Department of Transportation and its airport administration and investing in the growth of the airports and communities they serve.”

Lisa Holland, President of Sheltair, stated, “Modern Aviation’s team of professionals share our commitment to flight safety, service, and a corporate ethic that consistently puts customers first. It should come as no surprise that they have retained our Farmingdale and West Hampton staff
to ensure a seamless experience for passengers and pilots and a reputation for outstanding professionalism.”

With the closing of these two locations, Modern Aviation operates 12 FBOs in North America, including ILM, APA, BFI, SIG, JFK, LGA, ISP, FOK, FRG, MHR, SAC and SMF.

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: < a href="https://modern-aviation.com">modern-aviation.com.

Contact:
Modern Aviation, Eric Schneider eschneider@modern-aviation.com

Modern Aviation Completes Two-Phase Development Project At Boeing
Field/King County International Airport Location

June 22, 2022 – Seattle, WA.- – Modern Aviation is excited to announce the completion of our $25 million, two-phase development project and FBO renovation at our Boeing Field/King County International Airport location in Seattle, Washington.

In 2020, Modern Aviation started the two-phase development project. Phase one involved building a 40,000 square foot hangar and phase two included a 24,500 square foot hangar with a 7,500 square foot office building. In 2021, Modern Aviation started a full renovation project of its FBO terminal, which was completed in April 2022.

“These new and renovated facilities are a true reflection of the Modern Aviation name as we serve the current and future needs of the aviation community,” said Eric Schneider, General Manager of Modern Aviation, BFI.

In addition to the newly constructed hangars, Schneider said the Modern Aviation’s FBO terminal now provides expanded meeting space, the latest web conferencing capabilities, a new pilot’s lounge, and other amenities. Expanded ramp operations allow the FBO to excel in meeting the needs of current customers, including private aircraft owners, corporations, charters, medical flights, U.S. military (including the Blue Angels), Presidential visits, and professional and college sports teams, to name a few.

New security and access technologies have been incorporated into the completed project.

“We are excited to support all segments of aviation at Boeing Field/King County International Airport. Our recent development of new hangar and office space allow us to continue supporting the growth in aviation within the region,” stated Modern Aviation President and CEO, Mark Carmen.

Sustainability features were integrated into all facilities with state-of-the-art ESG (Environmental, Social and Governance) features. Examples include use of special materials to greatly reduce heat island effects on hangar roofs, LED lighting, extensive water-saving measures, use of compostable materials and recycling, drought resistant landscape elements, EV charging stations and electric aircraft towing vehicles.

SeaCon LLC of Issaquah, WA was the project’s general contractor, BA Group of Centennial, CO was the project manager and Rice Fergus Miller of Bremerton, WA was the interior designer.

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. Currently Modern Aviation has 10 locations, including BFI, SAC, MHR, SMF, APA, ILM, JFK, LGA, ISP and TJIG.  For more information visit: https://modern-aviation.com.

Contact:
Modern Aviation, Eric Schneider eschneider@modern-aviation.com

Modern Aviation Closes the Acquisition of Superior Aviation Company’s Three Sacramento, CA FBOs

June 16, 2022 – New York, NY.- – Today, Modern Aviation announced it has closed the acquisition of the FBO assets and operations at Superior Aviation Company’s (“SACjet”) three Sacramento, CA FBO operations from Sacramento International Jet Center Incorporated (operating as Capitol Jet Center) at Sacramento International Airport, Mather Jet Center, Inc. (operating as Mather Jet Center) at Mather Airport, and Patterson Aviation Company (operating as Executive Jet Center) at Sacramento Executive Airport.

Modern Aviation’s CEO, Mark Carmen, said, “We are excited for Modern Aviation to be expanding its presence on the west coast of the United States. We look forward to building a long-term relationship with the Sacramento County Department of Airports and investing in the growth of the airports and communities they serve.”

Carmen continued, “We are thrilled to welcome approximately 65 new team members to the Modern Aviation family. We also extend a warm welcome to all our new customers and look forward to providing them the best service in the industry, consistently and safely.”

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: modern-aviation.com.

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

Modern Aviation agrees to acquire Superior Aviation
Company’s Three Sacramento, CA FBOs

May 13, 2022 – New York, NY.- Modern Aviation today announced it has executed a definitive agreement to acquire Superior Aviation Company’s (“SACjet”) three Sacramento, CA FBO operations from Sacramento International Jet Center Incorporated (operating as Capitol Jet Center) at Sacramento International Airport, Mather Jet Center, Inc. (operating as Mather Jet Center) at Mather Airport, and Patterson Aviation Company (operating as Executive Jet Center) at Sacramento Executive Airport.

Modern Aviation’s CEO, Mark Carmen, said, “We founded Modern Aviation to develop a national network of FBOs. The opportunity to acquire SACjet’s three Sacramento FBOs and build upon their well-deserved reputation for client service is another important milestone in executing our strategy. SACjet has a world class staff of professionals at these airports where customers receive world class service every day. Modern intends to hire all of SACjet’s current operational employees. One of the benefits of our consolidation strategy is that it creates more career growth opportunities for our team members and more touchpoints for our customers.”

Mr. Carmen added, “As the capital of California, Sacramento is a highly attractive, growing general aviation market, and these FBOs provide world class service to a wide range of customers, including general aviation, business aviation, sports team and other VIP charters, military, cargo and commercial airlines. We look forward to continuing to provide industry best practices in customer service and safety to benefit all stakeholders of the Sacramento FBOs. Similar to our other locations, we look forward to developing a strong relationship with the Sacramento County Airport System.”

Since their first acquisition in early 2018, Modern has grown to nine locations today, which includes two locations in NY pending airport approval. The three Sacramento FBOs will bring Modern to twelve locations.

“Over the last 25 years, SACjet has continually invested in our people, our community and our facilities here in Sacramento. We assembled a seasoned and dedicated team who have maintained a track record of delivering exceptional customer service.” said SACjet founder and CEO, Scott Powell. “Modern Aviation is well positioned to build on our success and further develop the leaseholds to reach their full potential. I’m confident that Modern will provide a great home for the team and our loyal customer base.”

Modern expects the acquisition to close in the second quarter or early in the third quarter 2022 following the review and approval of appropriate government agencies.

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 has secured the backing of 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.

About Superior Aviation Company

Superior Aviation Company traces its roots back 78 years to when Patterson Aviation Company opened operations at Sacramento Executive Airport. Since 1998, under Scott Powell’s leadership, the company expanded to 3 FBO locations to become the largest independent FBO chain in California.

Contact:
Modern Aviation, Emmanuel Yapo eyapo@modern-aviation.com
Superior Aviation Company, Joe Hansen joe@sacjet.com

Modern Aviation Closes the Acquisition of FBO assets from
Sheltair Aviation at Long Island MacArthur Airport

March 4, 2022 – New York, NY.- Modern Aviation today announced it has closed the acquisition of the FBO assets and operations at Long Island MacArthur Airport from Sheltair Aviation, the nation’s largest privately-owned aviation network. Modern Aviation’s CEO, Mark Carmen, said, “We are excited to be closing on our third acquisition in New York. On behalf of our whole team, I would like to extend a warm welcome to our new teammates and customers to the Modern Aviation family.”

Modern Aviation has offered to hire all the local Sheltair employees during the transition. Carmen continued, “We believe that  increasing our presence in New York will allow us to better serve our customers in the Northeast. Adding a base at Long Island MacArthur Airport is a major step in our strategy to continue growing our platform in attractive markets. We are very excited to work with the Town of Islip and its Supervisor, Angie Carpenter, and Airport Commissioner, Shelly LaRose-Arken, to provide our world class customer service and safety standards to all customers.”

Lisa Holland, President of Sheltair, stated, “The aviation community should have every confidence in Modern Aviation and their ability to meet the needs of this dynamic and vital airport as they will be hiring our Sheltair employees who daily report to Long Island MacArthur.  Accordingly, we wish to publicly thank the Town of Islip who have worked closely with us to ensure a seamless transfer of our operations.”

The other Sheltair properties under contract, Westhampton, and Republic/Farmingdale, are expected to close in the coming weeks.

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 has secured the backing of 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 modern-aviation.

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