Modern Aviation Closes on Puerto Rico FBO Acquisition

 - December 16, 2021, 12:12 PM

Modern Aviation today closed on its second acquisition of the year, two FBOs and an MRO operated by Hill Aviation in Puerto Rico. Hill is the sole FBO at Fernando Luis Ribas Dominicci Airport (TJIG) in San Juan and owned a satellite FBO at Jose Aponte de la Torre Airport (TJRV) in Ceiba. Both FBOs will be rebranded Modern Aviation Puerto Rico.

Hill Aviation, owned by Tommy Hill and private equity firm VRM Companies, was a Million Air franchisee and operates a Part 145 repair station at TJIG, which is included in the FBO acquisition. The sole FBO at TJIG occupies 91,000 sq ft of hangar and office space there. Under the terms of the deal, Hill will continue to operate its Propilot aircraft management and charter business at TJIG.

CEO Mark Carmen said Modern Aviation plans to expand the FBO’s leasehold at TJIG by building more hangars. The company also operates FBOs in Denver, Seattle, and Wilmington, North Carolina. In October, Modern Aviation announced plans to acquire Sheltair’s five New York locations.