Modern Aviation, a fixed-base operator (FBO) platform backed by Tiger Infrastructure Partners, has signed an agreement to acquire the assets of XJet World Holdings’ subsidiary XJet at Centennial Airport (KAPA) in the US.
After the acquisition, the Denver facility will be rebranded as Modern Aviation. It will be the second FBO acquisition in less than a year.
Prior to this, Modern Aviation closed the acquisition of Air Wilmington FBO located at Wilmington International Airport in North Carolina in February this year.
The facility has more than 50,000ft² of climate-controlled hangar space and is capable of accommodating business jets up to a Gulfstream G650, Bombardier Global, Embraer Legacy 600, or Dassault Falcon 7x/8x.
The executive terminal includes rentable office space, an auto spa and auto storage, a conference room, a crew lounge and private bathrooms.
Modern Aviation CEO Mark Carmen said: “XJet is known for its high-quality facilities, outstanding customer service and commitment to safety, which is a perfect fit for the Modern Aviation platform.”
“Denver is a highly attractive, growing general aviation market, and we plan to invest in additional infrastructure to create the premier FBO location in the Rocky Mountain region.
“We intend to immediately expand the ramp to accommodate more traffic and have plans to build out additional hangars on the existing leasehold to service growing demand in the region.”
Modern Aviation acquires and develops FBO operations in growth markets such as North America and the Caribbean.
XJet founder and CEO Josh Stewart said: “XJet will now focus on its European hub at London’s Stansted Airport and expanding its Seven Star Service brand in the MENA region.”
Pending receipt of regulatory approvals, the transaction is scheduled to complete during the fourth quarter of this year.