Modern Aviation Inc.

What Modern Aviation Inc. does

Modern Aviation Inc. is a privately held platform company that develops, acquires, and operates Fixed Base Operator (FBO) facilities at airports across the United States and Puerto Rico. Founded in 2018 by Mark J. Carmen and Emmanuel Yapo with backing from Tiger Infrastructure Partners, the company has grown from three initial locations to 19 FBOs by July 2025 through an aggressive acquisition strategy, expanding into major business aviation markets including New York City (JFK, LaGuardia, Farmingdale, Islip, Westhampton Beach), Seattle, Denver, Sacramento (three airports), Fort Worth, Charlotte, Des Moines, Bar Harbor, Groton, Rutland, Wilmington, and two airports in Puerto Rico.

The company provides a full suite of FBO services including fuel sales, ground handling, line services, passenger terminal amenities, hangar and office leasing, and Part 145 Maintenance, Repair and Overhaul (MRO) services at select locations. Its underlying operational platform centers on a Safety Management System (SMS) deployed across all locations and IS-BAH (International Standard for Business Aircraft Handling) certifications, including the first Stage 3 IS-BAH certificate globally (held by American Aero). Revenue is generated through a mix of usage-based transactions (fuel sales, landing and facility fees, line services), recurring hangar and office leases, professional services (MRO), and managed services contracts, with the 20-year Charlotte Douglas International Airport management agreement representing the company's first airport-owned FBO management contract.

Modern Aviation became majority-owned by Apollo Global Management's infrastructure funds in November 2023, with Tiger Infrastructure Partners and management reinvesting alongside. The company pursues a stated strategy of FBO sector consolidation combined with operational and commercial improvements, supported by committed sponsor capital for continued acquisitions and infrastructure development. Major capex projects include the Fort Worth American Aero campus (31 acres, 247,000 SF), the Charlotte Douglas Executive Terminal (220,000+ SF hangar, 100,000 SF office), the Denver Centennial Airport complex, and a new 87,150 SF hangar complex breaking ground in June 2026.

Name

Modern Aviation Inc.

Legal name

Modern Aviation, Inc.

Website

https://modern-aviation.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

Modern Aviation is a privately held Fixed Base Operator (FBO) platform operating 19 facilities across the U.S. and Puerto Rico, providing fuel, ground handling, hangar and office leasing, and MRO services to business aviation, military, and corporate flight department customers.

Ownership category

akta.pro rank

Product category

Aviation Ground Services

NAICS

Airport Operations (48811), Other Aircraft Parts and Auxiliary Equipment Manufacturing (336413)

SIC

Airports, Flying Fields & Airport Terminal Services (4581), Aircraft Parts & Auxiliary Equipment, Nec (3728)

akta.pro primary industry

Private Aviation Terminals & FBO Services (THABAFAH)

akta.pro secondary industries

Parts Distribution & Spares Management (Aftermarket) (IMABALAK), MRO Engineering, Technical Publications & CAMO Support (IMABALAO)

Keywords

• Fixed base operator services
• Aviation fuel services
• Aircraft ground handling
• Hangar leasing services
• Aircraft maintenance services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices19 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Marketing or Sales, Others

Revenue model

1. FBO Services: Core FBO operations including fuel sales, line services, ground handling, and passenger services at airport locations. Revenue generated from fuel sales, landing fees, and service charges.
2. Hangar and Office Leasing: Leasing of hangar space and office facilities to aircraft operators, corporate flight departments, and aviation service providers. Properties range from small offices to large executive hangars.
3. MRO Services: Maintenance, Repair, and Overhaul (MRO) services provided at select locations including Part 145 Repair Station capabilities.
4. FBO Management Contracts: Management of airport-owned FBO facilities under long-term contracts, such as the 20-year management services contract at Charlotte Douglas International Airport.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Modern Aviation operates a national network of Fixed Base Operator (FBO) facilities providing aviation ground handling, fuel sales, hangar and office leasing, maintenance/repair/overhaul (MRO), and specialized military aircraft services at airports across the United States and Puerto Rico. The company grows through strategic FBO acquisitions, greenfield development, and long-term management contracts with airport authorities.

Product overview

Modern Aviation operates as a national network of 19 Fixed Base Operator (FBO) properties providing essential aviation services at major airports across the United States and Puerto Rico. The core offering is FBO Services encompassing ground handling, fuel distribution, aircraft parking, and passenger amenities. Additional service modules include Military Services (specialized rapid refueling capabilities), Maintenance/Avionics Services (MRO operations), and Hangar/Office Leasing. The company also offers a Carbon Offset Program through Carbonfund.org partnership. The FBO network serves business aviation, general aviation, commercial, cargo, and military aircraft operators across growth markets in North America and the Caribbean.

Differentiator

Problem solved

Functional benefit

Products and services

• FBO Services
• Military Services
• Maintenance and Avionics Services
• Hangar and Office Leasing
• Carbon Offset Program
• FBO Management Contracts

Quantifiable outcome

• First FBO in the world to achieve Stage 3 IS-BAH safety certification (American Aero)
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Twelve partnerships are on record, tiered minor and core.

• American Art CollectorminorGTM or Marketing Partner · 28 April 2026American Art Collector and MediaJet partnered with Modern Aviation to launch a national initiative integrating museum-quality fine art into FBO terminals. Launching summer 2026 across four markets: Denver, Seattle, Hamptons, and Fort Worth.
• City of CharlottecoreStrategic or Co-development Partner · 28 February 2025Modern Aviation was selected through competitive RFP to manage the FBO at Charlotte Douglas International Airport under a 20-year management services contract. Represents Modern's first airport management contract.
• MediaJet (A SANDOW Company)minorGTM or Marketing Partner · 27 March 2024Modern Aviation and MediaJet agreed to a 4-year exclusive magazine distribution partnership. MediaJet provides dedicated magazine display stands and luxury magazines to Modern's FBOs, reaching private jet travelers at 19 locations.
• Benitez AviationcoreStrategic or Co-development Partner · 1 February 2024Benitez Aviation sold its Puerto Rico FBO LLC to Modern Aviation but continues operating its aircraft management and Part 135 charter business at Isla Grande Airport as one of Modern's largest customers.
• Puerto Rico Ports AuthoritycoreStrategic or Co-development Partner · 12 January 2023Government authority overseeing Isla Grande Airport and Jose Aponte de la Torre Airport. Partnered with Modern Aviation for $17 million hangar development project and ongoing airport operations.
• Desarrollos Metropolitanos, LLCminorImplementation/ SI/ Consulting Partner · 12 January 2023General contractor for the $17 million hangar development project at Isla Grande Airport in San Juan, Puerto Rico.
• MortensonminorImplementation/ SI/ Consulting Partner · 22 September 2021Mortenson, a top-20 U.S. builder and developer, served as general contractor for the $20+ million hangar complex development at Centennial Airport. Project included hangars, FBO terminal, office space, and expanded ramp.
• Business Aviation GroupminorImplementation/ SI/ Consulting Partner · 22 September 2021Project manager for Centennial Airport hangar development project and San Juan hangar development project.
• Hauser ArchitectsminorImplementation/ SI/ Consulting Partner · 22 September 2021Structural design partner for Centennial Airport hangar complex development project.
• Rice Fergus MillerminorImplementation/ SI/ Consulting Partner · 22 September 2021Interior design partner for Centennial Airport hangar complex development project.
• Carbonfund.org FoundationminorStrategic or Co-development Partner · 23 October 2019Partnership to offer customers carbon offset program bundled with fuel purchases. Modern Aviation committed to fund 20% of customer contributions during the first year. Initial projects include Russas-Valparaiso rainforest conservation in the Amazon.
• Quest KodiakminorChannel Partner/ Reseller/ Distributor · 26 December 2018Gateway USA (now Modern Aviation Seattle) was the exclusive authorized dealer and service center for Quest Kodiak aircraft in the Pacific Northwest, providing sales and maintenance support.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Atlantic Aviation: Largest direct competitor, a Macquarie Infrastructure portfolio company operating ~70+ FBOs across North America. Shares the same multi-location FBO business model, target customer base (business/general aviation operators), and roll-up strategy. Modern's leadership team (Yapo, Reinheimer) came directly from Atlantic Aviation.
• Signature Aviation: One of the world's largest FBO networks, recently taken private by Blackstone and Global Infrastructure Partners. Direct competitor at major business aviation airports in the U.S., offering the same fuel, hangar, and ground handling services with comparable IS-BAH certifications.
• Jet Aviation: A wholly-owned subsidiary of General Dynamics operating a global FBO and aircraft management network. Directly comparable FBO service offering at overlapping U.S. airports; Modern's COO Richard Layson previously served as VP of Operations leading all U.S. FBO and sales operations for Jet Aviation.
• Sheltair Aviation: Family-owned FBO network with locations across the U.S. Southeast and Northeast. Modern acquired five Sheltair New York FBOs in 2021-2022, demonstrating direct overlap in customer base, services, and airport positioning.
• TAC Air: Multi-location FBO chain owned by The Carlyle Group. Direct peer with same service mix (fuel, hangar, MRO) at overlapping business aviation airports; Modern's COO Richard Layson was previously Director of Operations at TAC Air.
• Million Air: Independent FBO franchise network with 30+ locations across North America. Directly comparable in service offering and customer base, with similar focus on premium amenities and IS-BAH certifications at member locations.

Regional players

• Wilson Air Center: Multi-location FBO operator primarily in the U.S. Southeast that Modern Aviation displaced at CLT in 2025 after Wilson's 20-year tenure. Operates comparable services but with smaller network scale than Modern.

Emerging players

• Banyan Air Service: FBO and MRO operator at Fort Lauderdale Executive Airport offering fuel, hangar, and Part 145 maintenance services. Comparable service mix and customer base, though concentrated at a single primary location.
• Clay Lacy Aviation: FBO, MRO, and aircraft management operator; historically connected to Modern via the Boeing Field/Gateway USA acquisition chain. Comparable in offering jet fuel, FBO, and MRO services in overlapping Pacific Northwest and California markets.

Others

• Universal Weather & Aviation: Trip planning and international handling services for business aviation operators. Modern CEO Mark Carmen was previously President. Adjacent ecosystem participant rather than direct FBO competitor, but serves the same business aviation customer base and complements the FBO value chain.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/modern-aviation

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries10 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Modern Aviation Inc.