UNITED STATES OF AMERICA —Private equity firm Apollo Global Management has entered into a strategic partnership with KKR by acquiring a significant ownership stake in Atlantic Aviation, valuing the fixed-base operator (FBO) platform at nearly $10 billion. Under the terms of the transaction, Apollo-managed funds join KKR-managed funds as co-investors, with KKR maintaining a substantial equity position in the enterprise.
Atlantic Aviation operates a nationwide network of fixed-base operations across primary U.S. airfields, offering aircraft refueling, hangar leasing, ground handling, and essential support facilities to general and corporate aviation clientele. These operations rely on long-term concession agreements with municipal and airport authorities, creating high barriers to entry in prime aviation hubs.
Apollo Global Management is an asset manager specializing in credit, private equity, and real assets, holding approximately $1.05 trillion in assets under management. KKR is a global investment entity managing over $120 billion in infrastructure assets worldwide, maintaining an active portfolio across transportation, digital, and energy verticals.
The strategic recapitalization highlights growing institutional appetite for transportation infrastructure backed by long-dated real asset concessions. Private aviation infrastructure yields recurring revenue streams while benefiting from persistent post-pandemic growth trends in business travel and non-commercial aviation. Premium FBO networks benefit from limited physical capacity at major airfields, establishing structural cash-flow stability even during broader macroeconomic shifts.
This co-investment model enables Atlantic Aviation to pursue targeted capital deployment, international site expansion, and operational upgrades across high-density air corridors. The participation of two major private capital firms equips the platform to scale its operational footprint and absorb ongoing consolidation within the fragmented general aviation services market.
