Category Archives: AFCO

At AFCO, we are dedicated to acquiring and developing airports and acquiring and building facilities that are operationally efficient, cost-effective and easily expandable.

Acquisition News – AFCO Inc & AvPorts

Acquisition News

Dulles, VA. – May 24, 2018 – Aviation Facilities Company, Inc. (“AFCO”) and AFCO AvPorts Management LLC (“AvPorts”), both industry leaders in the development and management of airports and airport infrastructure, announced they have entered into a definitive agreement to be acquired by West Street Infrastructure Partners III (“WSIP III”), a family of infrastructure investment funds managed by the Merchant Banking Division of The Goldman Sachs Group, Inc. (“Goldman Sachs”). The transaction transfers ownership from a diversified base of investors to WSIP III. Full Press Release in PDF Format here.

AFCO Acquires Air Cargo Facility at Mather Airport

AFCO Acquires Air Cargo Facility

Dulles, VA., (February 21, 2017) – Aviation Facilities Company, Inc. (AFCO) completed the purchase of an air cargo facility at Mather Airport (MHR) in Sacramento, California from GE Capital Aviation Services. The MHR facility is situated on a 4.5-acre site with direct ramp access and includes 33,300 square feet of air cargo warehouse and office space that is fully leased to UPS Supply Chain Solutions (UPS SCS). “The acquisition of the MHR facility reflects our strategy of acquiring on-airport assets with credit quality tenants like UPS SCS,” said Chuck Stipancic, President & CEO of AFCO. The MHR facility is used by UPS SCS to support its regional and local trucking operation and for UPS aircraft that operate at the airport.  MHR is owned and operated by the County of Sacramento and is part of the Sacramento County Airport System. “We are delighted to expand our relationship with UPS SCS and we look forward to working with the County to...

City of Gary and AFCO/AvPorts release Vision Document

GYY_Vision_Cover_Front-1 The Public Private Partnership (“PPP”) between the City of Gary and AFCO/AvPORTS created this visioning document as a strategy to guide investment and development at and around the Gary/Chicago International Airport. The initiatives outlined in the document seek to position the Airport as a driver of economic growth, create a business- friendly environment for firms that require and support rail, highway, marine, pipeline, and air-oriented modes of transport, and market Gary and Northwest Indiana as a nexus of robust transportation and infrastructure networks. Areas of Focus: 1. The Airport  * Secure customs capability  * Return of commercial service  * Market and promote the runway extension 2. Surrounding Land  * Advance road improvement projects  * Promote development opportunities domestically and abroad  * Respond to inquiries and engage broker community 3. Infrastructure  * Advance Buffington Harbor, Airport Road and Clark Road improvement initiatives  * Advocate for higher and better use of lakefront properties  * Integrate long term...

AFCO Master Development Agreement Approved

AFCO Master Development Agreement Approved

January 27, 2013 – Aviation Facilities Company, Inc. (AFCO) is pleased to announce that the Gary/Chicago International Airport Authority today unanimously approved development and management agreements to dramatically improve the economic landscape of the airport, the City of Gary and Northwest Indiana.

AFCO will Lead the Development

Under the terms of the agreements, AFCO will lead the development effort while its affiliate, AFCO/AvPORTS Management LLC (AvPorts) will lead the airport management effort. The transactions represent the culmination of a year-long public procurement selection and negotiation process that has been timed to coincide with the final stages of completion for extension of the main runway to 8,900 feet. The development agreement is expected to result in over $100 million in new development in and around the airport over the next 40 years with $25 million to be deployed by 2017. The transaction is structured as a Public Private Partnership (“P3”) with elements that include revenue sharing to the City of...

AFCO Announces Acquisition of AvPORTS Name and Seven Airport Management Contracts

AFCO Announces Acquisition

AFCO completed the acquisition of the trade name and assets of AvPORTS, which includes seven U.S. airport management contracts, from Macquarie Aviation North America, effective January 1, 2009. The assets being acquired by AFCO include management contracts to manage the airports on behalf of local governments at Albany International Airport (ALB) in Albany, New York; Atlantic City International Airport (ACY) in Atlantic City, New Jersey; Republic Airport (FRG) in Farmingdale, New York; Stewart International Airport (SWF) in the City of Newburgh and the Town of New Windsor, New York; Teterboro Airport (TEB) in Teterboro, New Jersey; Tweed-New Haven Regional Airport (HVN) in New Haven, Connecticut; and Westchester County Airport (HPN) in White Plains, New York. AvPORTS originated more than 80 years ago as Pan Am World Services, a division of Pam American Airlines and in subsequent buyouts has operated under the name of Johnson Controls World Services and American Port Services.  AvPORTS is currently one of the largest private airport...

AFCO Begins Construction of Parking Facilities at Indianapolis International Airport

AFCO Begins Construction

August 2008, Indianapolis International Airport AFCO has begun construction of off-airport parking facilities on 25 acres near the southwest corner of Indianapolis International Airport. The new parking facilities will be located near the new airport terminal complex and entrance road, which are currently under construction and expected to be completed in early November 2008. Six Points Road Developers LLC (SPRD), a joint venture between AFCO and Airport Parking Management (APM), acquired 47 acres of land to develop the parking facilities in 2006. SPRD will develop the parking facilities and any future commercial development. Of the 47 acres, approximately 25 will be used for the parking operation and the balance of approximately 22 acres is earmarked for future commercial development, which may include hotels, industrial/flex space, and retail or office buildings. APM currently owns Indy Park Ride & Fly LLC (IPRF), an existing off-airport parking operation near the current airport entrance at the northeast corner of the airport. This operation will...

AFCO Completes Construction of GSE Facility at Orlando International Airport

AFCO Completes Construction

AFCO has completed construction of a 40,000 square-foot ground support equipment (GSE) maintenance facility at Orlando International Airport (MCO). AFCO teamed with the design/build firm The Haskell Group based in Jacksonville, Florida. The new facility is the only purpose-built, multi-tenant GSE maintenance facility at MCO. The 30-year ground lease between AFCO and the Greater Orlando Airport Authority (GOAA) offers an ideal site location for state-of-the-art GSE maintenance operations, with an airside equipment staging area, complete with equipment wash rack facilities. The facility is 75% pre-leased. The initial tenants will take occupancy on February 1st, and the remaining tenants will take occupancy on March 1st. Tenants include Southwest Airlines, Tug Technologies, Skytanking USA, Quantem Aviation and Penaville Servisair USA. Jim Norris, AFCO Vice President, Development, negotiated the terms of the ground lease with GOAA. AFCO also owns and operates 50,000 square feet of office flex cargo facilities at MCO.  

About: AFCO is a recognized leader in the development, management and operation...

Construction Begins on New Commercial Airport in Branson, Missouri

AFCO - Construction Begins Branson Airport

AFCO was the developer for the first privately funded and operated for-profit commercial airport in the United States in Branson, Missouri.  Branson Airport LLC, in which AFCO has a minority ownership and sits on the board of Branson Airport LLC, closed on the financing for the new airport on June 28, 2007. The project was funded with private equity and $114 million in 30-year tax-exempt revenue bonds underwritten by Citigroup.  In its role as developer, AFCO was responsible for overseeing the design and construction of the project.  The new airport initially includes a 45,000 square-foot terminal facility geared towards low-cost airlines, a 7,140 foot runway that can ultimately be extended to 9,000 feet, an airport access road, fuel storage facilities and rental car and passenger parking facilities. Construction of the airport began in July 2007 and was completed in May 2009.  Burns & McDonnell designed the airport and McAninch Corporation of Des Moines, Iowa was the contractor...

AFCO/Quantem FBO Services Acquires Metro Flight Services FBO at Detroit Metropolitan Airport

AFCO and Quantem News

AFCO and Quantem FBO Services, LLC, through a joint venture, recently acquired the Metro Flight Services (Metro Flight) fixed base operation (FBO) that offers fueling, ground handling, passenger services, maintenance and various other services at the Detroit Metropolitan Airport (DTW) in Detroit, Michigan. The deal represents the second FBO acquired by the AFCO/QFS joint venture following on from the acquisition of Byerly Aviation in Peoria, Illinois in February 2005. Metro Flight began operations in October 2002. The facility includes 30,000 square feet of hangar and 10,000 square feet of office and customer support space.  Possession of the facility by AFCO/QFS occurred on November 6th. The terms of the acquisition were not disclosed.   About: AFCO is a recognized leader in the development, management and operation of airports and airport infrastructure.  With broad capabilities and deep experience, AFCO provides an unparalleled level of service and value to its clients including airports, municipalities, commercial and cargo airlines, freight forwarders and a wide variety of...

AFCO Acquires American Flight Services FBO, Reading, Pennsylvania

AFCO Acquires American Flight Services

AFCO acquired the American Flight Services (AFS) fixed base operation at the Reading Regional Airport in Reading, Pennsylvania from Mr. James Dastra and his partners, for an undisclosed sum on October 12, 2006. The deal represents the second FBO for AFCO following their recent acquisition of Byerly Aviation in Peoria, Illinois.  Frank Chambers, Chief Executive Officer and Founder of AFCO said, “We are delighted to have concluded the purchase of AFS, which is consistent with our strategy and goal to further diversify our business base with the direct ownership of FBO’s." AFCO intends to grow and develop the services offered by AFS and invest in the people and infrastructure.

About - AFCO is a recognized leader in the development, management and operation of airports and airport infrastructure.  With broad capabilities and deep experience, AFCO provides an unparalleled level of service and value to its clients including airports, municipalities, commercial and cargo airlines, freight forwarders and a wide variety...