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Modern Aviation Acquires Puerto Rico FBO, Solidifying Presence at Isla Grande Airport

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Modern Aviation Acquires Puerto Rico FBO, Solidifying Presence at Isla Grande Airport

Modern Aviation Acquires Puerto Rico FBO at Isla Grande Airport

Just about 13 months after the opening of Puerto Rico FBO at the Luis Ribas Dominicci Airport on Isla Grande, renowned Puerto Rican pilot Carlos Benítez’s company was recently acquired by Modern Aviation, which also has a presence at the airport facility.

In this way, Modern Aviation, with facilities in seven states in the United States, will be the only fixed base operations (FBO) at the Isla Grande airport, just when private flights are experiencing rapid growth on the island.

Puerto Rico FBO will be consolidated with the current operations of Modern Aviation and will operate under the Modern Aviation brand. The company provides fuel, hangar space for private aircraft, and coordinates ground transportation, hotel stays, and restaurants for travelers.

Modern Aviation CEO Mark Carmen said in a press release, “We are excited to continue growing our presence in San Juan and our investment in TJIG (Isla Grande Airport), where we have several exciting development projects underway. We are impressed by the business Benitez Aviation has built here and look forward to supporting its continued growth by providing the world-class service and safety that Modern offers.”

At the time of its opening in December 2022, Puerto Rico FBO had about 40,000 square feet of hangars and office space. Benítez had invested approximately $20 million in the facility from a combination of financing and private capital.

According to Modern Aviation, Benítez will continue to operate his charter business from the airport and is expected to be one of Modern Aviation’s main clients on the island.

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“We are pleased to partner with Modern Aviation, a leading FBO service provider, so we can continue to focus on growing our aircraft management business,” said Benítez in the press release. “We know that Modern will be a great home for our FBO employees and clients in Puerto Rico.”

Modern Aviation began operations at the Isla Grande airport in 2021 when it acquired the operations of Hill Aviation, including the company’s operations in Ceiba. Since then, Modern Aviation has embarked on a multimillion-dollar growth plan, including investing $17 million in the construction of two 24,000-square-foot hangars at the Isla Grande airport.

One of the hangars has already been completed, and the second is expected to be ready before the end of the first quarter, Modern Aviation reported.

Benítez had explained in a previous interview that he created an FBO because private aircraft traffic at the Isla Grande airport increased between 80% to 90% between 2019 and 2022. He attributed the growth to investors covered by the Contributory Incentives Code or Law 60, as well as the rise of luxury tourism.

El Nuevo Día attempted to interview Benítez after the sale closed, but it was not possible.

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