Teterboro Airport (TEB) presented 29 “Good Neighbor Awards” here yesterday to airport tenants and users who recorded a minimum of 100 operations per year while practicing “quiet flying” at the facility operated by the Port Authority of New York and New Jersey.
New Jersey FBO and maintenance provider Millville Jet Center closed its doors last month. The company was unable to meet its financial obligations, which included $500,000 owed to the Delaware River & Bay Authority for lease revenue and fuel flowage fees. Millville Jet Center had negotiated an agreement to restructure the debt, but the company was unable to continue operating. About 70 employees lost their jobs.
Joseph Singh, former director of charters for now-defunct Platinum Jet, pleaded guilty on Tuesday to “a conspiracy to defraud charter customers and brokers and to impede and obstruct the [FAA].” Singh, 37, of Boca Raton, Fla., admitted during his guilty plea in U.S. District Court that “he dispatched unqualified or unrested pilots”–including the pilot of the jet that crashed at Teterboro on Feb.
Hawthorne TTN Holdings has agreed to purchase assets of Ronson Aviation at Trenton-Mercer Airport in Trenton, N.J. The agreed price for the assets is $9.5 million, which includes $500,000 held in escrow for 15 months to secure indemnification obligations. The Ronson Aviation assets include FBO facilities, hangars and maintenance and avionics shops.
Millville Jet Center’s financial predicament is making news for the second time since last November. The New Jersey-based MRO is in the center of a complex relationship in which MIV Leaseholds rents property from the Delaware River & Bay Authority (DRBA) and sublets it to Millville Jet Center. MIV Leaseholds has filed for Chapter 11 bankruptcy protection.
Sparta, N.J.-based Brian Foley Associates president Brian Foley foresees a recovery of the business aviation industry in the middle of next year, but not before some unavoidable pain. Young companies and those that lack sufficient capital are likely to be “short-lived,” and shakeups are probable even at established businesses. He lists single-product OEMs as being particularly at risk.
Five executives and a pilot associated with now-defunct Platinum Jet Management have been charged in connection with the 2005 crash of a Challenger 600 following an aborted takeoff at Teterboro (N.J.) Airport. Arrested yesterday were Platinum Jet Management president Michael Brassington; his brother and vice president Paul Brassington; managing member Andrew Budhan; and director of maintenance Brien McKenzie.
In honor of the second anniversary of the launch of the Teterboro Airport Working Group’s “Pledge to the Community” program–which has as its mission improving the airport’s relations with its neighbors– aviation industry representatives, New Jersey politicians and representatives of the airport’s governing agency, the Port Authority of New York and New Jersey, met to take stock of the program’s efficacy.
Word spread quickly throughout the business aviation community when an eBay ad appeared on November 19 offering Millville Jet Center for sale at $2.5 million. By the end of the day the ad had been withdrawn but, according to Millville president Cliff Russell, did what it was intended to do: generate attention. Although his maintenance business is down 30 to 40 percent from last year, he’s not really looking to sell the Millville operation.
Word spread quickly throughout the business aviation community when an ad on the eBay auction Web site appeared on November 19 offering Millville Jet Center in New Jersey for sale at $2.5 million. By the end of the day the ad had been withdrawn, but according to Millville president Cliff Russell, “It generated a lot of telephone calls.” Russell said his maintenance business is down 30 to 40 percent from last year.