New FBO Company Makes First Acquisition | Aviation International News

New FBO Company Makes First Acquisition

Modern Aviation, backed by private equity fund Tiger Infrastructure Partners, has made its first splash in the FBO market, buying Air Wilmington.

By Curt Epstein • Business Aviation Services Editor

February 23, 2018

Modern Aviation, a new FBO company, has launched with its first acquisition: Air Wilmington, the lone service provider at North Carolina’s Wilmington International Airport. The location, which features an 8,400-sq-ft terminal and more than 100,000 sq ft of hangar space, had been owned by current president and CEO Bill Cherry and his family for the past four decades. The airport board gave its approval of the sale on February 7, and the facility is expected to retain its name and staff.

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