Business Aviation
Apollo Nears $10 Billion Deal for KKR’s Atlantic Aviation Stake
Apollo Global Management is set to acquire a majority stake in Atlantic Aviation from KKR, valuing the FBO network at nearly $10 billion.

This article summarizes reporting by Bloomberg and journalists David Carnevali and Ryan Gould.
Apollo Global Management is reportedly in advanced discussions to acquire a majority stake in Atlantic Aviation from KKR & Co. According to reporting by Bloomberg, the prospective transaction would place a massive valuation on the fixed-base operator (FBO) network. As noted in the original report, the firms are nearing:
…a transaction that would value the private jet fixed-base operator at almost $10 billion…
The potential deal highlights the continued surge of institutional capital into aviation infrastructure. Supplementary industry research indicates that Apollo is partnering with Singapore’s sovereign wealth fund, GIC Pte, to execute the buyout. Meanwhile, KKR is not fully exiting the business; the firm reportedly plans to reinvest and maintain a significant minority stake in the company.
If finalized, an official announcement could arrive as early as the first week of April 2026. However, sources caution that KKR retains the option to walk away from the negotiations and hold onto the asset.
The Evolution of Atlantic Aviation
Atlantic Aviation operates one of the largest FBO networks globally, providing essential ground handling, fueling, and corporate flight support for private and business aviation. Under the leadership of CEO Jeff Foland, the company has grown its footprint to over 100 campuses across North America and the Caribbean.
This growth has been accelerated by a string of recent acquisitions. In late 2025, Atlantic expanded its reach by acquiring the ExecuJet FBO in St. Maarten, Cedar Aviation Services in Bermuda, and the Jet Center at Santa Fe in New Mexico, alongside a new location at Glacier Park International Airport in Montana.
A Lucrative Return for KKR
KKR originally acquired Atlantic Aviation from Macquarie Infrastructure Corporation in the fourth quarter of 2021. At the time, KKR paid $4.475 billion, representing a 16.2 multiple of the company’s 2019 EBITDA, for a network that consisted of 69 locations.
Based on the reported $10 billion valuation, KKR has effectively doubled the value of its investment in less than five years. The decision to roll over equity suggests that KKR continues to see substantial long-term upside in the FBO market.
Infrastructure and the Future of Flight
The appeal of FBO networks to private equity and sovereign wealth funds lies in their infrastructure-like characteristics. These assets offer high barriers to entry, consistent cash flows, and a captive customer base. This trend was previously underscored by the 2021 acquisitions of Atlantic’s primary rival, Signature Aviation, by Blackstone and Global Infrastructure Partners for $4.7 billion.
Pioneering Advanced Air Mobility
Beyond traditional private jet services, Atlantic Aviation has aggressively positioned itself at the forefront of the electric aviation revolution. In January 2025, the company acquired Ferrovial Vertiports, subsequently rebranding it as VertiPorts by Atlantic.
This strategic move aims to build out the necessary infrastructure for electric vertical take-off and landing (eVTOL) aircraft. Atlantic has forged partnerships with leading eVTOL developers, including Joby Aviation, Archer Aviation, and Lilium. The company is currently upgrading utility infrastructure and installing charging stations at major hubs, such as New York City’s East 34th Street Heliport, to prepare for the commercial launch of regional air mobility services.
AirPro News analysis
We view this potential $10 billion transaction as a defining moment for aviation infrastructure. The involvement of heavyweight alternative asset managers like Apollo, KKR, and GIC underscores a broader macroeconomic trend: the deployment of billions into physical, inflation-resistant assets.
Furthermore, the valuation reflects more than just the traditional FBO business model. It represents a calculated bet on the future of transportation. By integrating eVTOL infrastructure into its existing network, Atlantic Aviation is future-proofing its operations and establishing itself as a critical player in the impending rollout of electric air taxis.
Frequently Asked Questions
Who is buying Atlantic Aviation?
Apollo Global Management, in partnership with Singapore’s sovereign wealth fund GIC Pte, is reportedly acquiring a majority stake.
How much is Atlantic Aviation valued at in this deal?
According to Bloomberg, the transaction values the company at almost $10 billion.
Is KKR selling its entire stake?
No, industry reports indicate KKR plans to reinvest and retain a significant minority ownership position.
Sources
Photo Credit: Atlantic Aviation
Business Aviation
FAA 25-Hour CVR Mandate Drives New Business Aviation Recorders
The FAA’s 2026 25-hour CVR mandate is spurring lighter combined voice and data recorders from Universal Avionics and Honeywell.

This article summarizes reporting by National Business Aviation Association by jsmith@nbaa.org.
Avionics manufacturers are leveraging a recent Federal Aviation Administration (FAA) mandate for 25-hour cockpit voice recorders to develop a new generation of lighter, combined data units optimized for business aircraft.
The regulatory shift, finalized by the FAA on February 2, 2026, requires all newly manufactured aircraft to carry Cockpit Voice Recorders (CVRs) capable of capturing 25 hours of audio, a significant increase from the previous two-hour standard. According to reporting published on August 17, 2026, by the National Business Aviation Association (NBAA), companies like Universal Avionics and Honeywell Aerospace are treating the forward-fit requirement as a catalyst for broader technological upgrades, focusing on space and weight savings critical to the business aviation sector.
Technological innovation driven by regulatory mandates
Universal Avionics has introduced its Kapture line of recorders to replace legacy systems. The company is offering standalone CVRs, Flight Data Recorders (FDRs), and combined CV-FDR units to meet diverse operational requirements.
“Our latest generation of these units are called Kapture and are a replacement for our legacy CVRs and FDRs,” stated Universal Avionics CEO Dror Yahav. “Right now, the Kapture line has stand-alone CVRs, FDRs and the CV-FDR, so there’s a solution for every need.”
Honeywell Aerospace is similarly advancing its product offerings. The manufacturer expects to certify its new Connected Voice Data Recorder, designated the CVDR 25, in 2027. Borka Vlacic, Honeywell director of product management for services and connectivity, told the NBAA that the mandate provided an opportunity to enhance recorder capabilities by integrating new technologies.
Vlacic noted that the upcoming CVDR 25 will be smaller and lighter than the existing HCR 25 model, making it better suited for business aircraft applications. The unit is also designed to meet drop-in replacement standards, which will help operators minimize installation downtime.
The economics of forward-fit versus retrofit installations
The push for advanced CVR technology is currently focused entirely on newly manufactured airframes. While the FAA Reauthorization Act of 2024 included provisions for a potential six-year retrofit requirement for existing aircraft, the agency ultimately decided against mandating retrofits in its final rule.
The decision to abandon the retrofit mandate was driven by economic factors. The NBAA reports that industry-wide equipment and labor costs for retrofitting older aircraft were projected to be nearly six times higher than the cost of forward-fit installations on the production line. This cost disparity led regulators to limit the 25-hour requirement to new-production aircraft, aligning United States regulations with international standards without placing an undue financial burden on current operators.
AirPro News analysis
We view the avionics industry response to the 25-hour CVR mandate as a textbook example of regulatory requirements accelerating product evolution. By combining voice and data recording into single, lighter units, manufacturers are turning a compliance burden into an operational upgrade. For business aviation operators, where payload and physical space are at a premium compared to Part 25 commercial transport aircraft, the shift toward all-in-one CV-FDR units offers tangible efficiency gains. While the lack of a retrofit mandate means older aircraft will not benefit from these specific upgrades immediately, the forward-fit market will likely drive down the cost of these advanced units over time, potentially making voluntary upgrades more attractive in the future.
Photo Credit: National Business Aviation Association
Business Aviation
AB Jets Completes Challenger 3500 Hat Trick Order
Memphis charter operator AB Jets takes delivery of its third Bombardier Challenger 3500, completing a three-aircraft order placed in 2023.

Memphis-based charter operator AB Jets has taken delivery of its third new Bombardier Challenger 3500, completing a three-aircraft order placed in 2023 and expanding its super-midsize fleet capabilities.
The aircraft departed Bombardier’s Montreal production facility on August 2, 2026, and is scheduled to enter charter service in mid-September 2026 following Federal Aviation Administration (FAA) conformity and post-delivery modifications. According to a company press release, the delivery marks the culmination of a three-year strategic expansion dubbed the “Hat Trick.”
Fleet expansion and aircraft modifications
The Bombardier Challenger 3500 features a nine-passenger seating capacity and an approximate range of 3,400 nautical miles. Before entering active service, the newly delivered jet will undergo specialized preventative modifications by Quiet Technology Aerospace (QTA) designed to address corrosion and improve long-term reliability. The aircraft will also be equipped with Starlink high-speed Wi-Fi.
AB Jets Co-owner and Director of Operations David Turner emphasized the operational focus of these additions.
“Starlink improves the passenger experience, while the QTA modifications are investments in reliability, longevity and reducing avoidable downtime. We want a no-excuses airplane, and we make the investments necessary to create one,” Turner stated.
Delivery timeline and future orders
The initial order was announced at the National Business Aviation Association Business Aviation Convention & Exhibition (NBAA-BACE) in October 2023. AB Jets received the first Challenger 3500 in September 2025, followed by the second in late 2025. The third delivery was originally anticipated for May 2026 but experienced delays attributed to weather disruptions in Montreal, extended production and quality-control processes, and the operator’s relocation to a new hangar facility.
“When we announced the Hat Trick, we knew exactly what we wanted these aircraft to represent for AB Jets: the next generation of our fleet without compromising the way we operate,” said Andrew Bettis, Founder and President of AB Jets.
The company, which has been in continuous operation since 1999, also operates four Learjet 60 and four Learjet 60SE aircraft. In April 2026, AB Jets placed an additional order for two more Challenger 3500s, with deliveries scheduled for December 2028 and November 2029.
Jet card program integration
To support the expanded super-midsize fleet, AB Jets launched a new jet card program. The offering provides guaranteed rates and availability across a service area spanning from South America to Alaska. The operator has deliberately capped membership numbers to ensure clients primarily fly aboard the company’s own Challenger 3500 fleet rather than brokered aircraft.
AirPro News analysis
We view AB Jets’ transition into the super-midsize category as a necessary evolution for an operator historically reliant on the Learjet 60 platform. With Learjet production ended, the Bombardier Challenger 3500 provides a logical upgrade path that offers increased range and passenger capacity while maintaining a relationship with the same original equipment manufacturer (OEM). The decision to invest in QTA modifications prior to service entry indicates a long-term ownership strategy focused on maximizing dispatch reliability in a competitive charter market.
Sources: AB Jets
Photo Credit: AB Jets
Business Aviation
Lane Aviation Joins Avfuel Network at Columbus Airport
Lane Aviation, a third-generation FBO at KCMH founded in 1935, joined the Avfuel Network effective July 28, 2026.

Lane Aviation Corporation, an independent fixed-base operator (FBO) at John Glenn Columbus International Airports (KCMH), has officially joined the Avfuel Network, integrating the Ohio facility into the global fuel supplier’s branded portfolio.
The partnership, which became effective on July 28, 2026, enables the Columbus-based operator to provide Avfuel Contract Fuel and AVTRIP loyalty rewards to its transient and based customers. Avfuel Corporation formally announced the agreement in a press release on August 11, 2026.
Nine decades of independent operations
Founded in 1935 by Foster and Ruth Lane, Lane Aviation operates a 24-hour facility featuring 11.3 acres of ramp space. The complex includes 140,000 square feet of heated hangar capacity, which can accommodate aircraft up to a Boeing Business Jet (BBJ).
Stastia Spence, executive vice president of Lane Aviation, highlighted the alignment between the two organizations in the company’s announcement.
“Avfuel felt like a natural fit for Lane Aviation. We’re both family-owned, Midwest-rooted companies that place a strong emphasis on integrity, relationships, and family values,” Spence said.
Spence also noted her lifelong connection to the family business, recalling early flights with her grandfather and a part-time job at age 21 that solidified her appreciation for the airport environment and customer relationships.
Strategic network growth
The addition of Lane Aviation brings over 140 years of combined industry experience between the two companies into a single service alignment. Joel Hirst, executive vice president of Avfuel, noted the significance of partnering with established independent operators.
“Companies like Lane Aviation don’t become institutions by accident. For generations, the Lane family has demonstrated what makes independent FBOs so important to our industry,” Hirst stated.
The Columbus partnerships follows a series of recent network expansions for Avfuel. On August 7, 2026, the company announced that North Shore Jet Center will assume FBO operations at Waukegan National Airport (KUGN) and join the Avfuel Network on October 1, 2026. Additionally, on July 17, 2026, Avfuel-branded Journeys Aviation at Boulder Municipal Airport (KBDU) began offering UL94 unleaded aviation gasoline, expanding the supplier’s unleaded fuel footprint.
AirPro News analysis
The alignment of a legacy independent FBO like Lane Aviation with a major fuel network illustrates a continuing strategy for family-owned operators. By leveraging Avfuel’s established contract fuel and loyalty programs, independent facilities can effectively compete for corporate flight department traffic against multinational FBO chains while maintaining their operational autonomy and local brand identity.
Sources: Avfuel Corporation
Photo Credit: Avfuel Corporation
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