Signature Eyes Bigger Presence at HPN
The FBO landscape at Westchester County Airport in White Plains, N.Y., continues to swirl with news that Signature Flight Support plans to acquire the Million Air White Plains FBO, in addition to the Jet Systems (formerly Avitat) FBO (for which it announced its intention earlier this year). Earlier this month, Landmark Aviation announced that it had upped its holdings at the dual-use airport with the purchase of independent FBO Panorama Flight Support.
Signature announced its intention to buy the Jet Systems facility in August for $38.5 million, but had delayed presenting the matter to the Westchester County Board of Legislators for approval, presumably waiting until it could add the Million Air location to its request. The lease agreements for both the Jet Systems and Million Air (Westair Aviation Services) properties prohibit the assignment of their leases without written approval of the county, and in the case of Jet Systems it will require a revision to the lease, which states that the county will not consent to the assignment to a fixed-base operator currently operating at the airport.
The matter is currently under review and could be resolved by year-end. If approved, the number of individual FBO operators at the airport will have decreased from five at the beginning of the year to just two.