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Atlantic Aviation: New Ownership,
Management; The new Atlantic Aviation FBO at Philadelphia
will be "a real showcase," says Aviation Management
Consulting Group CEO Paul Meyers, a close associate of Atlantic.
Ground was broken this past September 9 for the facility, which
is to be ready in time for July 2000's Republican National Convention.
GOP delegates will be wowed not only with state-of-the-art business
facilities but with granite, marble and cherry wood décor.
Not to mention "a very high, clerestory atrium in the main
lobby with large expanses of glass."
Major Expansions
It's the oldest FBO chain in the country
and it "needed a fresh start." Now Atlantic Aviation
has gotten that fresh start, with new ownership, a new management
team, and major expansions -- Atlantic early last month broke
ground on a $10.5 million FBO facility at the Philadelphia International
Airport, and a similarly ambitious upgrade is planned for Teterboro.
And that's just for the passengers. Pilots will be wowed by the
hangar's "Tennent" floor finish, which Atlantic promises
will be shiny enough that flyers will be able to see their reflections.
Cosmetics aside, Atlantic's Philadelphia workforce is 95% new,
according to GM's John Butterworth. "We've gone through a
huge transformation at PHL and have redefined our focus on customer
service," he says. "Flight crews that frequent our base
have taken notice of the improved level of service."
Next stop: Teterboro, where Atlantic plans an $8 to $10 million
upgrade including a new hangar, "complete refurbishment"
of the executive terminal and existing hangar, and new ramp space,
all to be completed by mid-2000. Joe Vavala is Atlantic's construction
and facilities director, and as such is responsible for both the
Philadelphia and Teterboro projects.
"We have a comeback story to tell," Aviation Management
Consulting Group CEO Paul Meyers told Show News. (He and Aviation
Management's Nick Schmidt supplied most of the information for
this article.)
Atlantic's turnaround began two years ago when Baltimore-based Legg Mason Merchant Banking bought the FBO chain. Founded in 1927, Atlantic can count Charles Lindbergh, Jimmy Doolittle, Amelia Earhart, Wiley Post and Eddie Rickenbacker among its former customers. But the venerable FBO remained dominated by founding families, including Delaware's duPont chemical scions.
"Managers became tenured and many had over 30 years of service," says Meyers. "The company was tired."
"Legg Mason sensed an opportunity," he says, and immediately embarked on a broad rebuilding of the company. Atlantic established "a new leadership team" by recruiting elsewhere in the FBO industry, ending up with 22 individuals from companies including AMR Combs, Page Avjet, Butler Aviation, and Garrett Aviation.
The old Atlantic had tenuous lease situations at Philadelphia and at Teterboro. Now, new long-term leases have been secured and a $20 million capital improvement program put in effect at the two airports.
Atlantic had to convince both that despite the old name, it was now a new Atlantic Aviation. "It wasn't easy" to persuade them, says Atlantic president and CEO Ray Fitzgerald, "that the future was going to be different and much better -- but we did."
Moving beyond its existing business base, Atlantic bought Midway, Chicago-based of Aero Services, formed a strategic alliance with FlightSafety International including a five-year training program for 150 Atlantic maintenance employees, was appointed as a Falcon authorized service center, ordered six additional charter aircraft to supplement the 22 existing aircraft in the Flight Services Division fleet, and concluded several labor contract negotiations, resulting in selected early retirements and lower--and more competitive--operating costs.
Which all set the stage for last month's Philadelphia groundbreaking. Atlantic is investing some $10.5 million in an all-new FBO at PHL, due to be completed this coming spring, well in advance of the Republican National Convention that's slated for July.
"In the age of rocketing start ups and mega-mergers," says Meyers, "it is exciting to monitor the rebirth of Atlantic Aviation, an old friend in the FBO industry."
Information for this article and the accompanying item below were
contributed by CEO Paul Meyers and Nick Schmidt of the Aviation
Management Consulting Group.
NBAA 1999, Atlanta, Ga.
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