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
THC Orders 11 Leonardo AW139s and Up to 60 Bombardier Jets
The Helicopter Company placed a firm order for 11 AW139s and signed an LOI for up to 60 Bombardier jets at Farnborough 2026.

Saudi Arabia’s commercial helicopter operator, The Helicopter Company (THC), placed a firm order for 11 additional Leonardo AW139 intermediate twin-engine Helicopters at the Farnborough International Airshow on July 21, 2026. The acquisition bolsters the operator’s rotary-wing capacity just as it announces a major expansion into fixed-wing business aviation.
In a press release issued during the airshow, Leonardo confirmed the new AW139s are scheduled for Delivery between 2027 and 2028. The order falls under a multi-year framework agreement signed by the two companies in 2024, which allows for the potential acquisition of up to 130 aircraft to support emergency medical services, VIP transport, and offshore operations.
Expanding the rotary-wing fleet
THC, a Public Investment Fund (PIF) company, has rapidly scaled its operations to align with the Saudi Vision 2030 initiative. According to Arab News, the operator currently maintains an active fleet of 60 aircraft across Saudi Arabia.
The latest commitment follows a recent milestone for the partnership, with Leonardo having just delivered the 40th aircraft to THC. The AW139 program itself has accumulated approximately 1,600 global orders across more than 90 countries.
“We are very pleased to move forward into the next stage of THC’s Leonardo helicopter fleet expansion and modernization plan which we launched two years ago, having also recently celebrated the delivery of the operator’s 40th aircraft,” said Gian Piero Cutillo, Co-General Manager of Leonardo and Managing Director of Leonardo Helicopters. “We stand ready and committed to supporting THC through its long-term strategy project to make sure our technology provides the high standard of service KSA’s communities expect.”
Strategic shift to fixed-wing operations
While the Leonardo order strengthens THC’s established helicopter operations, the company used the Farnborough Airshow to announce a fundamental shift in its business model. According to reporting by Aviation Week, THC signed a Letter of Intent with Bombardier on July 21, 2026, for up to 60 business jets.
The fixed-wing agreement includes a firm order for 12 aircraft, comprising five Bombardier Challenger 3500s, five Bombardier Global 5500s, and two Bombardier Global 8000s. The deal also includes purchase options for 48 additional jets, marking THC’s evolution into a comprehensive general aviation provider.
Captain Arnaud Martinez, CEO of THC, noted in the Leonardo press release that the AW139 order contributes to a broader fleet optimization Strategy while supporting plans to grow the company’s global footprint.
AirPro News analysis
We view THC’s concurrent announcements at Farnborough as a clear indicator of the Public Investment Fund’s aggressive timeline for building a self-sufficient aviation ecosystem in Saudi Arabia. By executing a massive fixed-wing order with Bombardier alongside steady, incremental rotary-wing acquisitions from Leonardo, THC is rapidly transforming from a specialized domestic helicopter operator into a diversified, international aviation services provider. The dual original equipment Manufacturers (OEM) strategy mitigates supply chain risks while ensuring the company has the specific airframes required to support both regional emergency services and long-haul VIP transport.
Sources: Leonardo
Photo Credit: Leonardo
Business Aviation
FAA Launches Mobile Clearance for GA IFR Departures
The FAA’s Mobile Clearance tool lets GA pilots receive IFR clearances digitally via ForeFlight and Garmin Pilot, targeting 300 airports by 2027.

The Federal Aviation Administration (FAA) has introduced a digital communication tool that allows general and business aviation pilots to process Instrument Flight Rules (IFR) departure clearances through electronic flight bag applications, bypassing traditional radio transmissions. Announced on July 23, 2026, at EAA AirVenture in Oshkosh, Wisconsin, the “Mobile Clearance” system aims to reduce frequency congestion and minimize readback errors at non-towered airports or during closed-tower operations.
In a press release detailing the initiative, the FAA noted that the system mimics the Pre-Departure Clearance (PDC) technology long utilized by commercial airlines. By integrating directly into popular applications like ForeFlight Mobile and Garmin Pilot, the agency expects to transition a significant portion of the approximately 44,000 daily IFR departure requests from voice to text-based digital formats.
Phased deployment and testing
The Mobile Clearance concept originated in 2016 through a collaboration between the FAA and the MITRE Corporation. Operational evaluations commenced in May 2026 at airports in the Houston, Texas, area. During the summer of 2026, the FAA expanded testing to Appleton International Airport (KATW) in Wisconsin and New Century AirCenter (KIXD) in Kansas.
The agency plans to add flight plan cancellation capabilities to the applications in August 2026. By the fall of 2026, the evaluation phase will extend to airports in Kansas City, Nashville, and Austin. Following the conclusion of these operational evaluations in early 2027, the FAA intends to begin nationwide deployment. According to reporting by Aviation International News, this rollout will target 300 airports that currently lack pre-departure clearance services.
Electronic flight bag integration
The transition to digital clearances relies on software already prevalent in general aviation cockpits. Jeppesen and Garmin Ltd. have integrated the Mobile Clearance functionality into ForeFlight Mobile and Garmin Pilot, respectively.
“Mobile Clearance is a smart, simple improvement that builds on technology pilots already use every day. By moving routine clearances to a digital format, we can improve communication accuracy for pilots, reduce misunderstandings, and help controllers stay focused on aircraft movement and runway safety.”
The statement from FAA Administrator Bryan Bedford highlights the safety case for the technology. More than half of the 44,000 daily IFR departure requests are currently conducted verbally over the radio. Shifting these routine communications to a digital data link frees up air traffic controllers to concentrate on aircraft separation.
Garmin confirmed the integration in a corporate statement. Carl Wolf, Garmin Vice President Aviation Sales, Marketing, Programs & Support, noted that bringing clearance delivery directly into the application helps reduce workload and save time for both flight crews and air traffic control.
AirPro News analysis
We view the introduction of Mobile Clearance as a critical step in closing the technology gap between commercial airline operations and general aviation. While commercial airlines have utilized Tower Data Link Services (TDLS) and PDC for years, general aviation pilots have remained dependent on legacy voice communications, particularly at non-towered fields. By leveraging the existing electronic flight bag ecosystem rather than requiring new certified avionics hardware, the FAA is facilitating a much faster adoption curve. This initiative aligns with broader National Airspace System (NAS) modernization efforts, pushing the industry further away from congested VHF radio frequencies and toward robust digital data link services.
Sources: Federal Aviation Administration
Photo Credit: Federal Aviation Administration
Business Aviation
Daher TBM 980 Orderbook Extends to Mid-2027 at AirVenture
Daher Aircraft reports 30+ TBM 980 deliveries in six months and targets 60-plus for 2026, with orders booked into mid-2027.

Daher Aircraft announced at the Experimental Aircraft Association (EAA) AirVenture in Oshkosh, Wisconsin, on July 20, 2026, that its new TBM 980 turboprop has secured an orderbook extending into mid-2027. The backlog follows the completion of more than 30 deliveries during the aircraft’s first six months on the market.
In a press release issued during the event, the manufacturer stated it is targeting a record 60-plus deliveries for the TBM 980 in 2026. The sales momentum underscores robust demand in the single-engine turboprop sector and validates Daher’s strategy of continuous incremental upgrades.
Delivery milestones and production targets
Since Daher officially unveiled the TBM 980 at its Tarbes, France, headquarters on January 15, 2026, the aircraft has maintained a rapid delivery pace. The company marked the European debut of the aircraft at the AERO Friedrichshafen show in April 2026 by handing over the 1,300th TBM family airplane, which was a TBM 980.
Daher Aircraft CEO Nicolas Chabbert attributed the strong market reception to the company’s focus on product quality and customer satisfaction.
“The TBM’s success has always been built on purposeful innovation. The exceptional response to the TBM 980, including the confidence shown by existing TBM owners, demonstrates how our strategy continues to resonate with customers around the world,” Chabbert said.
He added that each new version incorporates improvements while preserving the qualities that make the TBM a benchmark in its category.
Market dynamics and the TBM 980 upgrade
The TBM 980 represents the sixth iteration in the TBM 900 series since Daher acquired the product line in 2014. According to reporting by the Aircraft Owners and Pilots Association (AOPA), the aircraft features the Garmin G3000 PRIME avionics suite, which includes three 14-inch edge-to-edge touchscreen displays. It is powered by a Pratt & Whitney Canada PT6E-66XT engine and includes the HomeSafe emergency autoland system.
Reporting by Aviation International News indicates that more than half of the customers purchasing the TBM 980 are repeat buyers. This brand loyalty is supported by a tight preowned market for previous generation TBM aircraft. Just Helicopters and Aviation International News report that only three TBM 960s out of 218 built and four TBM 940s out of 124 built are currently available on the preowned market.
Alongside the TBM 980 updates at EAA AirVenture, Daher also announced an expansion of its customer support network for the Kodiak aircraft family, adding authorized service centers in California, Arizona, and Bangkok.
AirPro News analysis
We view Daher’s success with the TBM 980 as a textbook execution of the incremental upgrade model. By introducing meaningful technological advancements like the Garmin G3000 PRIME suite without altering the fundamental airframe, Daher provides a compelling reason for existing owners to trade up. The exceptionally low inventory of preowned TBM 940 and TBM 960 models indicates that these trade-ins are quickly absorbed by the secondary market, maintaining high residual values that further incentivize new purchases. If Daher achieves its target of 60 deliveries in 2026, it will cement the TBM 980 as one of the most successful product launches in the history of the single-engine turboprop segment.
Sources: Daher Aircraft
Photo Credit: Daher Aircraft
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