This article is based on an official press release from the National Business Aviation Association (NBAA) and supplementary industry research.

On March 31, 2026, Washington Governor Bob Ferguson signed House Bill 2711 (HB 2711) into law, effectively repealing a controversial 10% “luxury tax” on private aircraft. The repeal arrived just one day before the tax was scheduled to take effect on April 1, 2026. According to an official press release from the National Business Aviation Association (NBAA), the organization welcomed the repeal, which was the culmination of a grassroots campaign by a coalition of local aviation stakeholders.

The original tax had sparked significant concern within the general aviation community, prompting warnings that it would drive business out of the state. In place of the luxury tax, HB 2711 introduces a compromise funding mechanism that includes moderate increases to aviation fuel taxes, aircraft registration, and excise fees to continue funding the state’s environmental and aeronautics initiatives.

The Original Tax and Industry Backlash

The original tax was enacted during the 2025 legislative session under Engrossed Substitute Senate Bill 5801 (ESSB 5801). It imposed a 10% sales and use tax on non-commercial (private and general aviation) aircraft valued at over $500,000. The tax applied strictly to the portion of the aircraft’s value that exceeded the $500,000 threshold. Furthermore, it applied not only to new purchases but also to existing aircraft brought into, hangared, or leased in Washington state by residents. The revenue generated from this tax was earmarked for the state’s Sustainable Aviation Fuel (SAF) account.

Capital Flight and Economic Concerns

The aviation industry, led by the NBAA, the Aircraft Owners and Pilots Association (AOPA), and local lawmakers, launched a campaign to repeal the tax, warning of severe unintended economic consequences. Industry research indicates that before the tax even took effect, businesses began relocating assets to avoid the financial burden.

Notably, Schweitzer Engineering Laboratories (SEL), a major employer based in Pullman, Washington, relocated its fleet of five corporate aircraft to Lewiston, Idaho. General aviation is a significant economic driver in Washington; according to a 2020 Washington Aviation Economic Impact Study cited in industry reports, the aviation sector supports over 407,000 jobs, a payroll exceeding $26.8 billion, and generates more than $107 billion in annual business revenue.

The HB 2711 Compromise: A New Funding Structure

To replace the lost revenue intended for the Sustainable Aviation Fuel account, lawmakers and aviation stakeholders negotiated a new funding structure under HB 2711. State Representative Tom Dent (R-Moses Lake) initially introduced legislation to repeal the tax, and its core provisions were successfully rolled into the broader transportation bill.

Fuel Taxes, Fees, and Drone Assessments

According to legislative summaries, the new law implements several broad-based changes to aviation fees and taxes:

• Fuel Tax Increase: The state’s aircraft fuel tax will increase by 7 cents per gallon (from 18 cents to 25 cents), effective November 1, 2026.
• Registration & Excise Fees: Beginning January 1, 2027, the base registration fee for aircraft will double from $15 to $30. The aircraft excise tax range will also increase from the current $20–$4,000 range to a new range of $120–$8,000. Both assessments will automatically increase by 2% annually starting in 2028.
• Commercial Drones: For the first time, commercial drones will be subject to an annual excise tax of $120, starting in 2027.

To ensure environmental initiatives remain supported, 28% of the aviation fuel tax revenue and a similar portion of registration fees will be directed to a new SAF airport infrastructure account. The remainder will go to the state’s general aeronautics account.

Stakeholder Reactions

The repeal was met with relief from industry leaders and local businesses who had actively lobbied against the original tax.

“The success in halting the original aircraft tax is a win for job creation, local investment and economic opportunity. The measure signed today represents the views of a wide range of stakeholders and, importantly, ensures our seat at the table as an active, contributing neighbor in the state of Washington.”
, Phil Derner, NBAA Regional Director

“The original tax would have punished the ownership and use of a valuable asset. Many aircraft owners, operators, airports and businesses met with legislators to explain the impact, and we are relieved that legislators fully considered the impact of the tax and repealed it.”
, Dr. Ed Schweitzer, Founder of Schweitzer Engineering Laboratories (SEL)

“Purchases are being delayed, redirected or moved out of state. Once that business leaves Washington, it’s extremely difficult to bring it back… Washington’s aviation industry is a cornerstone of the state’s economy, and I am working hard to ensure that it stays that way.”
, Rep. Tom Dent (R-Moses Lake)

AirPro News analysis

We view this legislative pivot as a textbook example of the economic border wars that frequently occur when hyper-localized luxury taxes are applied to highly mobile industries. Aviation assets are inherently easy to relocate, as demonstrated by the immediate capital flight of corporate aircraft to neighboring Idaho before the tax even took effect.

The resulting compromise in HB 2711 represents a pragmatic “pay-to-play” restructuring. Rather than evading state taxes entirely, the aviation industry agreed to broad-based fee and fuel tax increases to ensure Washington’s environmental and aeronautics goals remain funded. This unified front of local businesses, national associations, and bipartisan lawmakers successfully reversed a major tax policy by offering a sustainable, industry-supported alternative that protects the state’s broader economic interests.

Frequently Asked Questions (FAQ)

When does the new aviation fuel tax increase take effect?
The 7-cent per gallon increase (raising the tax from 18 cents to 25 cents) takes effect on November 1, 2026.

Are commercial drones affected by the new legislation?
Yes. Starting in 2027, commercial drones will be subject to an annual excise tax of $120.

What happens to the Sustainable Aviation Fuel (SAF) funding?
Under the compromise, 28% of the aviation fuel tax revenue and a similar portion of registration fees will be directed to a new SAF airport infrastructure account to support clean aviation fuels.

Sources: National Business Aviation Association (NBAA)

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

• Bloomberg

This article is based on an official press release from Daher Aircraft.

On March 30, 2026, Daher Aircraft announced the delivery of a new TBM 980 to Dr. Ian Blair Fries, marking the 10th aircraft of this new model to arrive in the United States since its official unveiling on January 15. According to the company’s press release, the delivery follows a transatlantic ferry flight from Daher’s headquarters and final assembly line in Tarbes, France.

The acquisition represents the sixth consecutive TBM family aircraft purchased by Dr. Fries over a relationship spanning more than two decades. The delivery highlights the intersection of advanced general aviation and high-level professional utility, showcasing how owner-operators leverage high-performance turboprops for both business and personal missions.

A Two-Decade Aviation Relationship

The Buyer and His Mission

Dr. Fries is a board-certified orthopedic surgeon and a Senior FAA-qualified Human Intervention Motivational Study (HIMS) aviation medical examiner. Industry research notes that he is a highly experienced aviator with nearly 7,000 flight hours, holding an Airline Transport Pilot (ATP) license and a Certified Flight Instructor Instrument (CFI-I) rating. According to Daher, Dr. Fries utilizes the aircraft to commute between his medical offices in Vero Beach, Florida, and Brick, New Jersey, as well as for patient consultations and aeromedical speaking engagements. He frequently flies with his wife, Susan, who manages his professional practices.

In the official release, Daher Aircraft CEO Nicolas Chabbert emphasized the importance of this long-standing customer relationship.

“Dr. Fries is a highly valued member of the Daher Aircraft aviator community, and his acquisition of the latest TBM 980 version reflects the confidence he places in our airplanes – as well as the strength of our relationship,” Chabbert stated.

The Signature Carnation Livery

Recognized for wearing a red carnation daily in honor of his patients, a tradition spanning over 50 years, Dr. Fries incorporated this emblem into the nose art of his new aircraft. The distinctive paint scheme was designed by Craig Barnett, CEO of Scheme Designers. Background industry data indicates that Scheme Designers has created over 16,000 unique aircraft liveries globally, utilizing a flowing design approach that emulates airflow and speed.

Technological Leaps in the TBM 980

Next-Generation Avionics

The TBM 980 introduces significant technological upgrades, most notably the Garmin G3000 PRIME avionics suite. Unveiled by Garmin in late 2024, industry specifications show the PRIME system features three 14-inch edge-to-edge touchscreen displays, offering twice the CPU processing power and up to 100 times faster connectivity than previous generations. The suite also integrates Garmin’s Autonomí safety technology, which Daher brands as HomeSafe, providing emergency autoland capabilities alongside Smart Glide and Electronic Stability Protection.

Dr. Fries highlighted the avionics upgrade as a primary factor in his latest acquisition.

“Having owned TBMs with the previous-generation Garmin 1000 and Garmin 3000 avionics, I’m excited about the Garmin G3000 PRIME as the next significant step in further enhancing a single pilot’s ability to fly the aircraft,” Dr. Fries explained in the company statement.

Performance and Passenger Comfort

The TBM 980 is the sixth iteration in the TBM 900-series since Daher acquired the product line in 2014. It retains the proven powertrain of the TBM 960, utilizing a Pratt & Whitney Canada PT6E-66XT intelligent turboprop engine and a five-blade Hartzell composite propeller, both managed by a Full Authority Digital Engine Control (FADEC) system. Industry data places the aircraft’s maximum cruise speed at 330 knots with a maximum range of 1,730 nautical miles, carrying an estimated price tag of $5.82 million.

According to Daher, the six-seat cabin features modern passenger enhancements, including a factory-installed interface for a Starlink Mini internet terminal and 100-watt USB-C rapid charging ports. An upgraded passenger display allows control over electronically dimmable windows and provides enroute flight data.

Market Impact and Manufacturer Strategy

AirPro News analysis

We view Daher’s delivery of the 10th TBM 980 in the U.S. market, just two and a half months after its launch, as a strong indicator of sustained demand in the high-performance single-engine turboprop sector. The fact that the aircraft has already secured airworthiness certifications from EASA, the FAA, and Brazil’s ANAC demonstrates Daher’s aggressive and well-coordinated global rollout strategy.

Furthermore, Dr. Fries’ purchase of his sixth consecutive TBM underscores a critical success factor for boutique aviation manufacturers: brand loyalty driven by after-sales support. By consistently integrating cutting-edge consumer technology, such as Starlink Mini connectivity and the Garmin G3000 PRIME, Daher successfully incentivizes legacy owners to upgrade, maintaining a healthy order book without needing to design an entirely new airframe from scratch.

Frequently Asked Questions

What is the Daher TBM 980?

The TBM 980 is the latest high-performance, single-engine turboprop aircraft from Daher. Unveiled in January 2026, it features advanced Garmin G3000 PRIME avionics, a PT6E-66XT engine, and modern cabin amenities like Starlink internet connectivity.

How fast can the TBM 980 fly?

According to industry specifications, the TBM 980 has a maximum cruise speed of 330 knots (approximately 610 km/h) and a maximum range of 1,730 nautical miles.

What is the Garmin G3000 PRIME?

The Garmin G3000 PRIME is a state-of-the-art touchscreen avionics suite designed for single-pilot operations. It features significantly enhanced processing power, edge-to-edge displays, and integrated safety systems like emergency autoland.

Sources:
Daher Aircraft Press Release (March 30, 2026)