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://dev.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://dev.modern-aviation.com.

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

Modern Aviation Expands into the Midwest with the cquisition of the Elliott Aviation FBO at Des Moines International Airport

September 22, 2022 – New York, NY. – Modern Aviation announced today that it has closed the acquisition of the FBO assets and operations at Des Moines International Airport from Elliott Aviation, bringing its total number of locations to thirteen.

Modern’s new FBO in Des Moines operates on a 17-acre leasehold and offers state of the art facilities and amenities such as conference rooms and workstations, sleep rooms, crew cars and comfortable lounge areas with approximately 145,000 square feet of heated hangar space and 20,000 square feet of office space. Elliott will continue to operate a maintenance, repair, and overhaul business on the airfield.

Mark Carmen, Modern Aviation’s CEO, stated, “We are very excited about our new operation in Des Moines, which provides our customers access to our services for the first time in the Midwest. Elliott Aviation has a long history of providing outstanding customer service to its customers through its highly experienced and long tenured employees, all of whom have joined Modern. I would like to extend a warm welcome to the Modern Aviation family to our new teammates and customers. We also look forward to partnering with the Des Moines Airport Authority to continue to grow DSM and benefit the local community.

Greg Sahr, President and CEO of Elliott Aviation, stated, “Divesting our Des Moines FBO business to a great partner in Modern Aviation is a win-win for Elliott Aviation, our employees, Modern Aviation, and the Des Moines community. While our FBO employees will continue to provide exceptional service at the DSM location under the Modern umbrella, this divestiture will allow Elliott to focus our efforts and investment on growing our MRO business across our geographic footprint.”

In addition to Des Moines, Iowa (DSM), Modern Aviation operates at Wilmington, North Carolina (ILM), Seattle, Washington (BFI), Denver, Colorado (APA), San Juan, Puerto Rico (SIG), LaGuardia Airport, NY (LGA), John F. Kennedy Airport, NY (JFK), Long Island MacArthur Airport, NY (ISP), Republic Airport, NY (FRG), Francis S. Gabreski Airport, NY (FOK), Sacramento Executive Airport (SAC), Sacramento International Airport (SMF) and Sacramento Mather Airport (MHR).

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://dev.modern-aviation.com.

About Elliott Aviation
Elliott Aviation has been developing and delivering aviation solutions to their partners for over 80 years. As one of the longest-standing companies in aviation, Elliott Aviation offers a complete menu of high-quality products and services including aircraft sales (as Elliott Jets), avionics service & installations, aircraft maintenance, accessory repair & overhaul, paint & interior. Serving the business aviation industry nationally and internationally, Elliott Aviation has facilities in Moline, IL, Des Moines, IA, Minneapolis, MN, Atlanta, GA and Dallas, TX. The company is a member of the Pinnacle Air Network, National Business Aviation Association (NBAA), National Air Transportation Association (NATA), and the International Aircraft Dealers Association (IADA). For more information, visit www.elliottaviation.com. Elliott Aviation is majority-owned by Summit Park.

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

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://dev.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://dev.modern-aviation.com.

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