BizAv News

AINonline

Berkshire’s NetJets and FlightSafety drive 20.6% rise in Q2 service-group pretax earnings

Berkshire Hathaway’s service group reported a 20.6% increase in pretax earnings in the second quarter, with business aviation operators NetJets and FlightSafety identified as key contributors. The result highlights continued earnings momentum across private aviation operations and pilot-training services.

FlightGlobal

Textron Aviation names 29-year company veteran Brian Rohloff CEO

Brian Rohloff has become president and CEO of Textron Aviation, succeeding longtime chief Ron Draper. Rohloff has spent 29 years at the Wichita-based aircraft manufacturer and most recently led customer support, bringing deep operational and customer-facing experience to the company’s top role.

AINonline

Apollo Funds Acquires Major Share in Atlantic Aviation from KKR

Apollo funds have acquired a major share in Atlantic Aviation from KKR, which purchased the fixed-base operator chain in 2021. The transaction marks a change in ownership for one of the business aviation sector’s established FBO networks, but the available details do not disclose the stake’s value or terms.

Bloomberg

KKR Turns Private-Jet Terminals Into a $10 Billion National Infrastructure Platform

KKR transformed a decentralized network of private-jet terminals into a national infrastructure platform, more than doubling its value to $10 billion. The deal highlights the growing financialization of business-aviation infrastructure and the strategic value investors see in controlling private-jet fueling and service facilities.

Bloomberg

High activity

Apollo Takes Co-Control of Atlantic Aviation at Nearly $10B Valuation as FBO Expands Nashville Footprint

Apollo Global Management is acquiring a co-controlling stake in Atlantic Aviation from KKR, valuing one of the world’s largest fixed-base operators at nearly $10 billion. The partnership comes as Atlantic begins construction of a Nashville FBO with expanded hangar, ramp and fueling capacity.

Bloomberg

Vista Global considers European IPO targeting more than $1 billion

Vista Global Holding is weighing a European initial public offering that could raise more than $1 billion, according to people familiar with the matter. The potential listing would mark a significant capital-market event for the private aviation group and could provide funding for its next phase of growth.

AINonline

NTSB says unknown-origin in-flight fire preceded Citation X loss of control on landing

The NTSB said investigators could not conclusively identify the ignition source of an in-flight fire that led to a Citation X’s loss of control during landing. The finding leaves the fire’s cause unresolved while highlighting the safety implications of onboard fires in business aviation.

Flying Magazine

Embraer’s Phenom 300EV wins Brazilian, U.S. and European certification as first light jet with Garmin Emergency Autoland

Embraer’s Phenom 300EV has received certification from aviation authorities in Brazil, the U.S. and Europe, clearing the light business jet for global operations. The aircraft is the first light jet certified with Garmin Emergency Autoland, while Embraer positions it as the fastest and longest-range aircraft in its class.