Business Aviation
Long Beach Finalizes $60 Million Private Jet Campus Deal with Sky Harbour
Long Beach secures a $60M lease with Sky Harbour for a new private jet campus to enhance Southern California aviation facilities by 2028.
The City of Long Beach has finalized a significant, long-term agreement with Sky Harbour Group Corporation, an aviation infrastructure company, to develop a $60 million private jets campus at Long Beach Airport (LGB). This 50-year ground lease marks a pivotal investment in the region’s aviation future, aiming to address a critical shortage of private aircraft hangar space in Southern California. The project is poised to transform a 17-acre parcel of largely underutilized land on the west side of the airport into a state-of-the-art facility for business aviation. This move solidifies Long Beach’s position as a key hub for private and corporate travel, promising substantial economic benefits for the city and the surrounding communities.
The development is part of Sky Harbour’s broader national strategy to create a network of “Home Base Operator” (HBO) campuses. This model focuses on providing premium, dedicated hangar and office facilities for based tenants, a departure from traditional Fixed-Base Operators (FBOs) that often rely heavily on fuel sales. The Long Beach campus represents Sky Harbour’s 19th location in the United States and its third in California, signaling strong confidence in the region’s market. The project is not just about infrastructure; it’s a strategic move to recapture business that has been lost to other states due to a lack of adequate facilities.
With construction planned in phases and an expected completion by spring 2028, the campus is set to feature five large hangars, an open-air public restaurant, and modern amenities. This development is anticipated to generate hundreds of local jobs and inject significant revenue into the local economy. As the demand for private aviation continues to grow, this partnership between Long Beach and Sky Harbour is positioned to meet the needs of a burgeoning industry while fostering local economic growth.
The agreement outlines a comprehensive plan for the 17-acre site. The core of the $60 million project involves the construction of five hangars, each spanning approximately 43,000 square feet. These structures are designed to accommodate up to 25 ultra-long-range business jets, the larger, more modern aircraft that are increasingly in demand. Beyond simple storage, each hangar will be a self-contained unit featuring a lounge, storage areas, office facilities, and electric vehicle charging stations, catering to the high standards of corporate and private clients. A notable feature of the campus will be an open-air restaurant, which will be accessible to the general public, integrating the facility with the local community.
The financial structure of the 50-year ground lease is designed to provide escalating revenue for the city. Sky Harbour’s payments will begin at $29,778 per month in the first year, increasing to $48,389 in the second. Once construction is complete, the monthly lease payment will jump to $78,166, with a built-in 3% annual increase thereafter. This phased approach ensures a steady and growing income stream for Long Beach over the life of the lease, transforming a “largely vacant” piece of land, previously used for events and vehicle storage, into a productive, revenue-generating asset.
The land itself is currently used for events like the annual Festival of Flight and for vehicle storage by Mercedes-Benz. Councilmember Megan Kerr expressed satisfaction that this underutilized parcel would finally be developed. The project’s timeline, with a completion goal of spring 2028, reflects a multi-phase construction process designed to bring the campus online efficiently while managing the complexities of airport development.
“This agreement underscores Long Beach as an important hub for business aviation, which brings investment, jobs, and revenue directly into the City and communities throughout our region.” — Cynthia Guidry, Long Beach Airport Director
Proponents of the deal emphasize the significant economic benefits it promises for Long Beach and the wider Southern California region. The project is expected to create or sustain hundreds of local jobs, spanning construction, aviation services, and hospitality. This aligns with the broader impact of the business aviation industry, which supports over 1.2 million jobs in the U.S. and contributes an estimated $247 billion in economic output. By providing high-quality infrastructure, Long Beach aims to attract and retain a larger share of this lucrative market.
A key driver for this development is the pronounced national shortage of hangar space, particularly for the larger jets favored by corporate clients. Eric Stolpman, Senior Vice President with Sky Harbour, noted that this scarcity has forced many Southern California-based aircraft owners to house their jets in other states like Arizona, Nevada, and Utah. This “re-basing” of aircraft back to where their owners live is a central goal of the project. It allows the local economy to capture fees, taxes, and other spending that would otherwise be lost. Stolpman identified Long Beach as the “future growth spot” for business aviation in the entire Southern California area. While the economic upside is clear, it is also important to consider the broader context of the private aviation industry. The sector has seen substantial growth, with the number of private jets more than doubling since 2007. However, this growth comes with environmental considerations, as private jet travel is the most energy-intensive form of transportation per passenger. Critics also point to discussions around taxation, arguing that private aviation contributes a relatively small percentage of the taxes that fund the Federal Aviation Administration (FAA) despite its significant use of the airspace and publicly funded airports.
The partnership between the City of Long Beach and Sky Harbour represents a forward-looking strategy to capitalize on the sustained growth of business aviation. By transforming an underused plot of land into a premier private jet campus, the city is not only addressing a clear market demand but also creating a durable source of revenue and employment for decades to come. The $60 million investment is a calculated move to position Long Beach Airport as a critical node in the national private aviation network, attracting high-value clients and stimulating the regional economy.
As the project moves toward its 2028 completion, it will serve as a case study in public-private partnerships for airport infrastructure development. The success of the campus will hinge on its ability to deliver the premium, efficient service promised by Sky Harbour’s unique HBO model. While the broader conversations around the environmental and tax equity aspects of private aviation will undoubtedly continue, this development in Long Beach stands as a firm bet on the industry’s continued importance as a driver of business and economic growth.
Question: What is the total cost of the Sky Harbour project at Long Beach Airport? Question: How long is the lease agreement between Long Beach and Sky Harbour? Question: What will the new campus include? Question: When is the project expected to be completed? Sources: Long Beach Post
Long Beach Secures $60 Million Private Jet Campus with Sky Harbour
Project Scope and Financials: A Deep Dive
Economic Impact and Industry Context
Conclusion: A Strategic Investment in Aviation’s Future
FAQ
Answer: The project is valued at $60 million.
Answer: The City of Long Beach approved a 50-year ground lease with Sky Harbour.
Answer: The campus will feature five large aircraft hangars designed to hold up to 25 ultra-long-range business jets, office space, lounges, EV charging stations, and an open-air restaurant that will be open to the public.
Answer: The construction will be done in several phases and is expected to be finished by the spring of 2028.
Photo Credit: Long Beach Local News
Business Aviation
JETNET Evolves iQ to Continuous Data Model Ending RVA Partnership
JETNET transforms its iQ forecasting service to continuous data intelligence, ending its 15-year partnership with RVA in May 2026.
This article is based on an official press release from JETNET.
On March 16, 2026, aviation data and market intelligence provider JETNET announced a strategic restructuring of its flagship market forecasting service, JETNET iQ. According to the official press release, the company is transitioning the program from a periodic, survey-based reporting model to a continuous, multi-format data intelligence platform.
This strategic pivot marks the conclusion of a 15-year partnership with Rolland Vincent Associates (RVA), which co-founded the iQ program in 2010. The partnership will officially end in May 2026 following the release of the Q1 2026 report, allowing both entities to pursue independent intelligence models.
As JETNET leans into real-time analytics, AI, and its recent acquisitions, RVA plans to independently continue its legacy of survey-based research. We at AirPro News view this amicable split as a reflection of the business aviation industry’s growing need for both instantaneous quantitative data and deep, human-driven sentiment analysis.
For over a decade, JETNET iQ has been a staple in business aviation forecasting. Since its inception, the program has gathered sentiment from more than 25,000 aircraft owners and operators worldwide. However, the official press release outlines a definitive shift away from standalone quarterly and annual reports.
Instead, JETNET will deliver ongoing analysis through articles, webinars, digital briefings, and live presentations. The company also plans to integrate these insights directly into more than 20 industry events and tradeshows throughout the year, allowing for real-time commentary on unfolding Market-Analysis.
Derek Swaim, CEO of JETNET, explained the rationale behind the shift in the company’s release:
Business aviation professionals are increasingly seeking data-driven insights aligned with real-world developments as they unfold. The next generation of JETNET iQ is designed to deliver exactly that.
The conclusion of the JETNET-RVA partnership in May 2026 will see both entities charting distinct paths. Rolland “Rollie” Vincent, founder of RVA, announced that he will rebrand and continue the survey product independently starting with the Q2 2026 survey, maintaining the statistical rigor the industry relies on. JETNET executives expressed public support for RVA’s ongoing work. Josh Baird, President and COO of JETNET, noted in the press release that RVA has built a strong reputation for capturing operator sentiment, adding that JETNET is excited to see RVA advance its survey-based insights.
Speaking to Aviation International News regarding the transition, Rolland Vincent emphasized the continuity of his research:
Without skipping a beat or missing a quarter, we are moving forward from JetNet iQ’s foundation to create the next generation of business aviation intelligence.
JETNET’s strategic pivot aligns with broader macro-trends currently reshaping the 2026 business aviation sector. Industry estimates project global utilization to set record highs this year, tracking nearly 5% year-over-year growth. This high-demand environment, coupled with Supply-Chain constraints, requires faster, more actionable data.
The evolution of JETNET iQ is heavily influenced by the company’s recent technological investments. Following a 2022 growth investment from Silversmith Capital Partners, JETNET acquired flight utilization tracker WINGX in June 2023. According to industry research, WINGX subscriptions grew by over 30% in 2025, reflecting a rising demand for integrated flight and ground activity intelligence.
Furthermore, the October 2025 Launch of “JETNET AI” introduced explainable generative AI into the company’s ecosystem, allowing users to query fleet intelligence using natural language. The new continuous data model of JETNET iQ is a natural extension of this push toward instant, workflow-integrated intelligence.
Richard Koe, Managing Director of WINGX, hinted at future integrations in the press release:
This is just the beginning. We look forward to sharing more exciting developments as JETNET iQ continues to grow and evolve.
We observe that the amicable split between JETNET and RVA represents a fascinating divergence in market intelligence philosophies within business aviation. JETNET is clearly doubling down on hard, real-time data, leveraging flight tracking, AI, and transaction speeds to provide instantaneous insights that match the pace of the modern market.
Conversely, RVA is preserving the crucial human element of operator sentiment and survey data. As the industry navigates shifting inventory and utilization records in 2026, professionals will likely find distinct value in both the immediate quantitative data provided by JETNET and the qualitative, sentiment-driven forecasting maintained by RVA. The era of the static quarterly report is giving way to a more dynamic, bifurcated approach to industry intelligence. When does the JETNET and RVA partnership officially end? Will the JETNET iQ surveys continue? What is driving JETNET’s new strategy? Sources: JETNET Press Release
The Next Evolution of JETNET iQ
Shifting to Continuous Intelligence
The RVA Split and Future Paths
RVA to Continue Survey Legacy
Technological Drivers and Industry Context
AI and Real-Time Data Integration
AirPro News analysis
Frequently Asked Questions (FAQ)
The 15-year partnership will conclude in May 2026, following the publication of the Q1 2026 JETNET iQ report.
JETNET is shifting iQ to a continuous data intelligence program. However, Rolland Vincent Associates (RVA) will independently rebrand and continue the legacy survey-based research starting in Q2 2026.
The shift is driven by industry demand for real-time data, the integration of JETNET’s 2023 acquisition of WINGX, and the recent rollout of JETNET AI.
Photo Credit: Montage
Business Aviation
Challenges for Business Aviation Securing Slots at International Airports
Business aviation faces slot allocation challenges at major international airports due to commercial airline priority and complex regulations.
This article summarizes reporting by NBAA’s Business Aviation Insider and journalist J. Smith.
For business aviation operators in the United States, pivoting to a secondary general aviation (GA) airport is a standard operational adjustment. However, securing landing and departure slots at major international hubs presents a significantly more complex logistical hurdle. At these global facilities, private jets are frequently at the mercy of commercial airline schedules and stringent local regulations.
According to reporting in the March/April 2026 issue of NBAA’s Business Aviation Insider, business aviation typically accounts for only a single-digit percentage of traffic at large airline hubs. This stark volume disparity means that commercial airlines are heavily prioritized when airport authorities allocate infrastructure and operational slots.
To navigate these bottlenecks, veteran schedulers and dispatchers are evolving beyond traditional administrative roles. Today, they act as international diplomats and vital safety officers, utilizing advanced planning, cultural negotiation, and Safety Management Systems (SMS) to secure access to highly restricted global airfields.
The primary friction point between commercial and private aviation at international hubs stems from scheduling models. Commercial airlines plan their flight schedules months or even years in advance, allowing them to secure the vast majority of available airport slots. In contrast, business aviation is inherently reactive and short-notice.
Sean Raftery, Managing Director of Universal Aviation for the UK and Ireland, noted in the NBAA report that airlines do not inherently possess more rights to these airports. Instead, the disparity is a byproduct of scheduling styles.
“[B]usiness aviation is by nature ad hoc, so we tend to get what the airlines have left for us,” Raftery explained.
Nighttime operations remain the most significant pain point for international business aviation. Many major global airports enforce strict noise curfews, and the few night slots that do exist are frequently absorbed by delayed commercial flights. When international airports conduct environmental noise studies, they often base their data entirely on commercial traffic, leaving business aviation policies as an afterthought.
The NBAA report highlights the peak summer squeeze in London as a prime example. Historically, London Stansted (STN) and Luton (LTN) served as the primary 24/7 options for business aviation, relying on a small pool of ad-hoc slots. In recent years, however, these slots have been increasingly withdrawn to accommodate over-running commercial traffic. Because alternative GA airports like Farnborough and Biggin Hill close at night, operators face severe logistical bottlenecks that often force diversions or overnight holds. Overcoming systemic biases at international hubs requires coordinated industry advocacy. Hong Kong International Airport previously operated a slot system designed exclusively for commercial aviation, effectively locking business aviation out of night slots while allowing commercial airliners to depart at 1:00 a.m.
Sarah Kalmeta, founder of Pivot Point International and a former board member of the Asian Business Aviation Association (AsBAA), helped lead a multi-year advocacy campaign to rectify this. By challenging the “apples-to-oranges” data comparisons used in the airport’s noise studies, AsBAA successfully lobbied for dedicated night access.
“Eventually, we secured night slots for business aviation, which was a big win,” Kalmeta stated, noting the effort required careful cultural navigation.
Securing international slots requires dispatchers to navigate complex foreign government agencies. According to the NBAA coverage, experts emphasize that trust-building and mutual respect are foundational to negotiations, particularly in Asian business cultures where aggressive tactics can create operational friction.
Schedulers must also be fluent in diverse global slot request formats, such as GCR in Germany, SCR in Poland, and SSIM in Israel. Understanding local deviation tolerances is equally critical; missing a strict -/+ 10-minute window can result in heavy financial penalties or the detention of flight crews. To mitigate these risks, operators are advised to leverage local Fixed Base Operators (FBOs) and ground handlers who maintain established relationships with local slot coordinators.
The March/April 2026 NBAA report underscores a critical industry shift: schedulers and dispatchers are no longer viewed merely as booking agents. They are now recognized as essential components of a flight department’s Safety Management System (SMS).
James Lara, principal at Gray Stone Advisors, argues that schedulers should be licensed, trained, and fully integrated into the operational safety culture to prevent last-minute compromises.
“They must be considered an essential part of the flight operation’s safety culture,” Lara emphasized regarding the modern dispatcher’s role.
Before a pilot even reviews a trip itinerary, a trained scheduler can utilize a Flight Risk Assessment Tool (FRAT) to verify if a highly restricted international destination is suitable for a specific aircraft’s weight and runway requirements. By proactively altering departure times, dispatchers can account for temperature and density altitude issues, or ensure that strict crew duty and rest time requirements are met long before the engines start.
We observe that the ongoing friction at international hubs highlights a broader infrastructure gap in global aviation. Because major international airports rely heavily on commercial-centric data for environmental and noise studies, private aviation is systematically disadvantaged in policy-making. The lack of dedicated business aviation infrastructure at these global hubs not only complicates logistics for flight departments but also threatens to impact the broader international business economy that relies on agile, on-demand travel. Moving forward, the proactive advocacy work demonstrated by groups like AsBAA and NBAA will be vital in ensuring private aviation retains a foothold at tier-one international airports. Business aviation is inherently ad hoc, whereas commercial airlines schedule flights months or years in advance. Because business jets account for a single-digit percentage of traffic at large hubs, they are often left to compete for whatever slot inventory remains after commercial allocations.
Depending on the jurisdiction, missing a slot window (which can have a strict deviation tolerance of just -/+ 10 minutes) can result in heavy financial fines, loss of future slot privileges, or even the temporary detention of the aircraft and crew.
Modern schedulers use Flight Risk Assessment Tools (FRAT) to evaluate airport suitability, anticipate weather or density altitude hazards, and manage crew rest requirements before a flight is officially dispatched, making them a core part of a flight department’s Safety Management System (SMS).
Sources:
The Commercial vs. Business Aviation Imbalance
The Ad Hoc Disadvantage
Night Slots and the London Squeeze
Advocacy and Cultural Diplomacy
A Success Story in Hong Kong
Navigating Global Bureaucracy
The Evolving Role of Schedulers in Safety
Integration into Safety Management Systems (SMS)
Proactive Risk Mitigation
AirPro News analysis
Frequently Asked Questions
Why is it difficult for business aviation to secure slots at international hubs?
What are the penalties for missing an international slot time?
How do schedulers contribute to flight safety?
NBAA Business Aviation Insider
Photo Credit: NBAA
Business Aviation
Catheter Precision Expands Flyte Hops Regional Jet Platform
Catheter Precision expands Flyte Hops using Cirrus Vision Jets for short-haul regional flights under 500 miles with $88M financing.
This article is based on an official press release from Catheter Precision, Inc. and Fly Flyte, Inc.
On March 25, 2026, Catheter Precision, Inc. (NYSE American: VTAK) and its wholly-owned subsidiary, Fly Flyte, Inc. (“Flyte”), announced the expansion of its “Flyte Hops” platform. According to the company’s press release, the service is designed as a scalable, short-haul regional travel solution powered entirely by a fleet of Cirrus Vision Jets. By targeting flight routes under 500 miles, Flyte aims to bridge the gap between the inefficiencies of commercial airlines and the historically prohibitive costs of traditional Private-Jets charters.
The announcement follows a dramatic corporate restructuring. Catheter Precision, traditionally known as a medical device company focused on cardiac arrhythmia treatments, has fully acquired Flyte and secured significant institutional financing to pivot its business model into the regional air mobility sector. This transition marks a highly unusual but aggressive move into the private aviation market.
We have reviewed the official statements and accompanying industry research to break down the operational model, the financial mechanics of the acquisition, and the broader implications for regional air travel.
The core of the Flyte Hops model is transforming private aviation from a discretionary luxury into a practical, high-frequency transportation solution. According to the release, the platform is purpose-built for short-haul flights under approximately 500 miles. Flights are operated by Flyte’s wholly-owned subsidiary, Ponderosa Air, LLC, which holds an FAA Part 135 air carrier certification.
To optimize fleet utilization, the company states that the platform relies on AI-driven scheduling and pricing. Passengers utilizing the service gain access to private fixed-base operators (FBOs), allowing them to bypass traditional TSA security delays and significantly reduce overall travel time.
Industry research highlights that the United States is home to over 5,000 public-use Airports, the vast majority of which are unserved or underserved by major commercial airlines. Flyte’s model capitalizes on this underutilized infrastructure, offering point-to-point travel that avoids congested major hubs.
Traditional legacy charter operators often rely on larger aircraft that are highly inefficient and cost-prohibitive for 300-to-500-mile trips. By matching the aircraft capability to the actual mission demand, Flyte aims to achieve a lower cost per flight hour and higher asset utilization. Flyte is actively expanding its footprint to capture market share in these regional corridors. According to the provided research, Flyte currently operates three aircraft. Two additional Vision Jets are currently under accepted bids and are expected to be fully operational by Memorial Day 2026, which will bring the near-term fleet to five aircraft.
The company officially launched “Flyte Hops Florida” on March 16, 2026, connecting the U.S. East Coast from Maine to Florida. During a soft rollout in Florida, industry data indicates that a single aircraft generated over $160,000 in inbound flight bookings without any marketing spend, demonstrating strong organic demand. Following the East Coast rollout, Flyte plans to expand operations into California and Texas later in 2026.
To understand Flyte’s current trajectory, it is necessary to examine its recent corporate history. Flyte was previously majority-owned by Creatd, Inc. (CRTD), which acquired the company in early 2025 and implemented a turnaround strategy focused on operational optimization and AI integration.
On March 10, 2026, Catheter Precision completed the Acquisitions of the remaining 80% equity stake in Flyte and 100% of Ponderosa Air, LLC from Creatd. According to financial reports, the deal was valued at approximately $11.55 to $12 million, structured as $6 million in cash and $6 million in VTAK convertible preferred stock.
To support this aviation venture, VTAK actively restructured its balance sheet. In February 2026, the company sold off non-core medical assets, specifically its atherectomy catheter technologies. Concurrently with the Flyte acquisition, VTAK announced it had secured up to $88 million in strategic institutional financing commitments to fund fleet expansion and scale the aviation platform.
Flyte’s growth strategy also involves capitalizing on recent industry consolidation. In late 2025, Flyte actively pursued the acquisition of grounded Cirrus Vision Jets and infrastructure from Verijet, a former top-15 U.S. private jet operator that filed for Chapter 7 bankruptcy. This move allows Flyte to absorb existing assets and meet market demand while attempting to avoid the operational pitfalls that hindered its predecessors.
A major selling point for consumers wary of small aircraft is the specific safety profile of the Cirrus Vision Jet. The aircraft is a single-engine very light jet known for its low operating costs, but it also features proprietary safety technologies.
“The Cirrus Vision Jet features the Cirrus Airframe Parachute System (CAPS), the only full-aircraft parachute system in private aviation, and a ‘Safe Return’ Emergency Auto-land system that allows autonomous navigation and landing at the push of a button.”
According to industry analysts, these features are critical differentiators that help build passenger confidence in single-engine regional air mobility. The transition of Catheter Precision from a medical device manufacturer to a regional air mobility operator is one of the most unique corporate pivots we have observed this year. Following the completion of the Flyte acquisition in early March 2026, retail sentiment for VTAK surged, with the stock price experiencing a notable 50% increase as investors reacted positively to the company’s entry into the private aviation sector.
However, financial analysts note that this pivot remains highly speculative. Prior to securing the recent $88 million in financing commitments, VTAK exhibited signs of financial distress, including a low Altman Z-Score and Piotroski F-Score. The ultimate success of this venture will rely heavily on the executive team’s ability to successfully integrate the aviation business, scale the fleet efficiently, and maintain strict unit economics in a notoriously capital-intensive industry.
What is the Flyte Hops platform? Who owns Flyte? How is Catheter Precision funding this aviation expansion?
The “Flyte Hops” Platform and Fleet Strategy
Right-Sizing Regional Travel
Fleet Expansion and Organic Demand
Corporate Restructuring: From Medical Devices to Aviation
The Verijet Connection
Safety and Consumer Appeal
AirPro News analysis
Frequently Asked Questions
Flyte Hops is a regional private aviation service focused on short-haul flights under 500 miles, utilizing a fleet of Cirrus Vision Jets to provide cost-effective, point-to-point travel bypassing major commercial airport hubs.
Flyte (Fly Flyte, Inc.) and its operating subsidiary, Ponderosa Air, LLC, are wholly-owned subsidiaries of Catheter Precision, Inc. (NYSE American: VTAK), which acquired the remaining 80% stake from Creatd, Inc. in March 2026.
The company sold off non-core medical assets in February 2026 and secured up to $88 million in strategic institutional financing commitments to fund the acquisition and subsequent fleet expansion.
Sources
Photo Credit: Flyte
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