Republic Jet Center, one of three service providers at Republic Airport (KFRG) on New York’s Long Island, has changed hands in a deal involving SR Aviation Infrastructure (SRAI)—the recently-launched subsidiary of real estate investment and development firm SomeraRoad that is looking to develop a nationwide network of aircraft hangar complexes—and FBO chain Modern Aviation.
Though SRAI purchased Republic Jet, a full-service FBO and formerly the lone independent service provider on the field, it showed no appetite for entering the FBO arena. Instead, it immediately flipped Republic's FBO assets to Modern, which already operates one of the other two facilities at KFRG. The Republic site features a 2,000-sq-ft main terminal, a 1,500-sq-ft satellite terminal on the north side of the field, and more than 60,000 sq ft of hangar space. While the location’s customer service and line staff were retained, most of Republic’s management was let go as the facility undergoes rebranding.
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