In response to recent confusion regarding the status of the Cleveland Jet Center (CJC) at Cleveland Cuyahoga County Airport, AIN learned that the facility was placed into court-ordered receivership late last month as a result of default proceedings on a multimillion-dollar loan by owner Canyon Properties. Canyon is run by Scott Beale, the chairman and CEO of Michigan-based Aerodynamics (ADI), and his wife, Jennifer. At a hearing last Thursday, a Cuyahoga County court ruled that CJC will remain in the hands of the receiver until the dispute is settled or the property is sold.
Cuyahoga County, Ohio
Atlantic Aviation parent company Macquarie Infrastructure announced last month that its facility and lease at Fresno Yosemite International Airport was sold to a Ross Aviation subsidiary, while the FBO and leasehold of its property at Cleveland’s Cuyahoga County Airport were sold to the Cleveland Jet Center. The terms of the deals were not disclosed.
The combination of fractional providers Flight Options and Raytheon Travel Air (RTA) into Cleveland-based Flight Options LLC is expected by the end of this month, according to Flight Options CEO and founder Kenn Ricci. Government antitrust approval was granted in the middle of last month, clearing the merger’s last big hurdle.