For the FBO industry, the major story of 2016 was the finalization of the transaction that saw BBA Aviation subsidiary Signature Flight Support acquire its largest competitor, Landmark Aviation, to create a mega-FBO chain that now numbers more than 200 locations worldwide.
As part of the approvals process for the deal, Signature was required to divest at six locations where the U.S. Department of Justice ruled there was conflict of interest in Signature’s acquiring a second FBO (or in the case of New York’s Westchester County Airport, another two FBOs).
While there was speculation as to whether the six locations (Washington D.C.; White Plains, New York; Scottsdale, Arizona; Fresno and Thermal, California; and Anchorage, Alaska) would be sold off individually, at the beginning of July, it was announced that they were purchased as package to form the nucleus of a reconstituted Ross Aviation, backed by private-equity firm KSC Capital Partners. In September, Ross made its first additional purchase—the highly regarded Los Angeles-area independent aircraft service provider AirFlite.