Business View Magazine | May 2021

89 BUSINESS VIEW MAGAZINE MAY 2021 a 24,500-square-foot hangar with an attached 7,500 square-foot office building. That’s going to be completed this summer. We’ve also just started a full renovation of our FBO terminal. Every single one of our customers passes through this terminal, so we’re doing a full gut rehab. That’s about a 12-month project that we just kicked off last month.” Another $20 million expansion at their Denver location will see an entirely new, 7,000-square- foot FBO terminal built, along with two larger hangars (that’s over 52,000 square feet of total hangar space), and 4,000 square feet of attached office space. “And we’re adding 135,000 square feet of new ramp space,” Carmen announces. “The ramp is sort of the equivalent to an airplane hangar, but without the building. The aircraft park there. So, we’re more than doubling our footprint in both Denver and Seattle.” Denver and Seattle are among the top 20 busiest WWW.RFMARCH.COM 2021 NEWH TOP HOSPITALITY INTERIOR DESIGN FIRMS ARCHITECTURE INTERIORS PLANNING VIZLAB Business Aviation Group AVIATION REAL ESTATE SIMPLIFIED ® WE BUILD | WE ADVISE | WE CONNECT Skilled at managing aviation development projects from start to finish – on-time and on-budget. By bringing an aviators’ perspective to real estate opportunities, the company leverages its wealth of experience andskills,cutting-edgeanalytics,andBusiness Intelligence to assist developers, FBOs, flight departments, aircraft owners and MROs in making informed decisions. 720.574.2018 | www.bagroup.aero MODERN AV I AT ION general aviation airports in the country, and they’re exactly the kinds of growth markets that Modern Aviation is looking to attract. As flight activity continues to surge in the FBO market despite the pandemic’s double blow to flying and the economy, the company’s prospects, as well as the health of the FBO industry supply chain, are just as strong as they were when those two acquisitions were made. “There are two sides to that coin,” Carmen says. “The commercial activity plummeted with the lockdowns at the start of the pandemic, and it’s still close to 50 percent down from where it was. But the private aviation activity has already rebounded almost to where it was in 2019. The pandemic impacted our volumes on March 16, 2020 – when activity fell off a cliff. It went into a tailspin, a 70 to 80 percent drop. And it was that way through April. In May, things started to turn around. Activities were probably a little