Category Archives: Press Release

AFCO Inc Press Release about new properties, acquisitions and business opportunities – learn more about AFCO by contacting us by email, phone or mail.

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.
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Charles “Chuck” Stipancic, Jr. Elected Washington Airports Task Force Chairman

The Washington Airports Task Force is a leadership organization that works on bringing solutions to the problems affecting our airports and the quality of air services they provide, as well as their ability to expand, because air service is important to our region’s economy. Stipancic succeeds David Whitestone, a partner in the Washington, D.C. office of Holland & Knight and an elected member of the firm’s managing Directors Committee.  Whitestone has successfully chaired the Washington Airports Task Force since 2008.  “David’s experience on Capitol Hill and as counsel for airlines and airports has proved invaluable as he led the organization through some very challenging times.  We are grateful that David will remain on the Board and continue his support,“ said Keith Meurlin, President of the Washington Airports Task Force. Chuck Stipancic is President and CEO of Aviation Facilities Company, Inc., (AFCO), a market leader in the development and management of airports and airport infrastructure.  The company and its affiliates currently have infrastructure...

AFCO Announces Election of Frank Chambers as Chairman of the Board of Directors and Appointment of Chuck Stipancic as President and Chief Executive Officer

AFCO Leadership

AFCO announced that at its February 25, 2009 annual shareholders meeting that Francis X. Chambers, Jr. has been elected Chairman of the Board of Directors and that Charles Stipancic, Jr. has been appointed President and Chief Executive Officer. Mr. Chambers co-founded the Company in 1992 and has been its President and Chief Executive Officer since that time.  Mr. Stipancic, who joined the Company in 2003 as its Chief Operating Officer, is succeeding Mr. Chambers as President and Chief Executive Officer and will assume responsibility for the executive management of the Company. Mr. Chambers said, “We are very pleased to announce that Chuck is taking over the day to day management of the Company and are confident in his ability to steer the Company through these increasingly challenging times.  With know that Chuck will be successful in his new role given his knowledge of the industry and demonstrated leadership skills.”  

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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 Plans to Develop Corporate Jet Campus at Reading Regional Airport, Pennsylvania

AFCO Development Plans Reading Regional Airport

AFCO has announced plans to build up to 70,000 sq ft of hangars at the Reading Regional Airport, Pennsylvania. Having taken over the American Flight Services FBO at Reading in October 2006, AFCO has been evaluating the feasibility of building a campus for corporate jets already based on the field and to attract new ones to the area. As part of the planned development AFCO will work with the Airport Authority to demolish an existing antiquated hangar and relocate an existing fire station and ancillary facilities. The design was a collaborative effort between AFCO and beyond ARCHITECTURE a Pennsylvania-based architectural company. The first phase of the project could include a 25,000 sq ft hangar with personal parking garages, internet security access for aircraft owners, parts and maintenance storage areas and a new 10,000 s.f. FBO terminal. A second phase could include a second 25,000 s.f. hangar and potentially a third hangar of 10,000 s.f....

AFCO Acquires Air Cargo Facilities in Austin, Texas

AFCO Acquires Air Cargo Facilities in Austin

AFCO has completed the purchase of three facilities at Austin-Bergstrom International Airport from Austin BellyPort Development LLC. Two air freight warehouse facilities total 57,000 square feet with ramp access, vehicular parking, and ground equipment storage. The opportunity exists for a total warehouse expansion of 30,000 square feet. The third building is a 7,200 square-foot ground support equipment (GSE) maintenance facility. All of the buildings have tug road access to the aircraft apron. Land is available to construct an additional 30,000-40,000 square-foot building. All three facilities are fully leased. Tenants include American Airlines, Continental Airlines, Delta Airlines, Signature Flight Support, Southwest Airlines and the City of Austin Department of Aviation....

AFCO Acquires Air Cargo Facilities in Bakersfield, California and Hartford, Connecticut

AFCO Acquires Air Cargo Facilities

AFCO announced today that it has completed the purchase of three air cargo facilities at Meadows Field (BFL) in Bakersfield, CA and Bradley International Airport (BDL) in Hartford, CT. The BFL facility includes 11,000 s.f. of warehouse space fully leased by Airborne Express. AFCO plans to expand the existing facility at BFL to accommodate additional aviation industry tenants. The facilities at BDL include two air cargo buildings totaling 86,000 s.f. of warehouse space and 486,000 s.f. of aircraft apron, fully leased to Airborne Express, Airport Group International (AGI), BAX Global, Federal Express and TransCaribbean. The land is available at the BDL site for the development of an additional 40,000-50,000 s.f. facility. Passenger and cargo traffic at Bradley are increasing at phenomenal rates due to the booming economy of central New England and Bradley’s strategic position, midway between Boston and New York City. AFCO is very pleased to become part of the cargo teams at both Bradley and Meadows...

AFCO Begins Construction of Midfield Cargo Complex at Baltimore-Washington International Airport

AFCO Begins Construction of Midfield Cargo Complex

On February 29, 2000, construction began on the 60,000 s.f. cargo building, 330,000 s.f. of aircraft ramp/apron and approximately 55,000 s.f. of associated truck/auto parking of the first phase of the Midfield Cargo Complex (MCC) at Baltimore/Washington International (BWI) Airport. Construction is scheduled to be completed at the beginning of 2001. Tenants of the new first-phase air cargo facility are expected to include BAX Global, Airborne Express, and Signature Flight Support. Construction of additional cargo facilities in Phase II of the MCC area is expected to commence during the fourth quarter of 2001 with a completion date during the third quarter of 2002. When fully developed the MCC may include as much as 358,000 s.f. of handling facilities, 808,000 s.f. of an apron and additional truck, car and equipment parking. AFCO has operated Cargo Building E at BWI since 1995 and acquired Cargo Buildings B, C, and F in August 1999. Frank Chambers, President, and CEO of...

AFCO Acquires 4th Air Cargo Facility at Seattle-Tacoma International Airport

AFCO Acquires 4th Air Cargo Facility at Seattle-Tacoma

AFCO completed the acquisition of a 35,000 square-foot air cargo facility at Seattle-Tacoma International Airport (Sea-Tac) from Ray Balanos Properties. The facility was built in 1998 and includes 25,000 square feet of warehouse space, 10,000 square feet of office space and 57,000 square feet of landside parking and loading area. It is 100% leased by Airgo Freight, Inc., Golden Globe Transport, and Petro Card Pacific Express. AFCO previously acquired two cargo facilities at Sea-Tac in 1995 and a third cargo facility in March 1999. With the purchase of this 4th facility AFCO now owns and operates 152,000 square feet of warehouse and office space and 193,000 square feet of apron space at the Airport....

AFCO Acquires Air Cargo Facility at Seattle-Tacoma International Airport

AFCO Acquires Air Cargo Facility

AFCO executed a contract for the purchase of a 24,000 square-foot air cargo facility at Seattle-Tacoma International Airport (Sea-Tac). The facility is used for the transfer and storage of cargo and the maintenance of ground support equipment (GSE). The facility, built in 1983, contains freezer and cooler space, freight scales, a fuel dispensing system for diesel and automotive gasoline, and multi-tenant warehouse and office space. The site contains an additional 14,000 square feet of outside GSE storage area and 800 square feet of outside loading dock. Airport Drayage Company, the building’s present owner, will be leaving the facility. A new lease has been finalized with SEATAC Express bringing the facility to 90% occupancy. Existing tenants include the United States Department of Agriculture and Southwest Airlines. Lease negotiations are continuing with other potential tenants. AFCO has operated two air cargo buildings totaling 104,000 square feet with 193,000 square feet of the apron at the North Airfield Cargo Complex at...