TEXARKANA, Texas (October 29, 2010) – TAC Air has sold its Greenville, South Carolina (GMU) FBO operation to Greenville Jet Center. Operations will officially transfer at midnight tonight. Terms of the sale will not be released.
According to TAC Air VP & COO Christian Sasfai, the move reflects a growing trend in general aviation FBO services, stating “consolidation has become a necessary component of today’s aviation services industry in order to provide high quality, low cost products and services to aircraft owners and operators.” Meanwhile, TAC Air is actively pursuing several acquisition opportunities. According to Sasfai, “We’re simply reallocating our resources to where the greatest opportunities are. We expect to make our first acquisition announcement in early 2011, with more to follow.”
The other 12 FBOs will continue to operate as usual. However, Sasfai is quick to point out the GMU consolidation is another example of market trends. He predicts the sponsors of regional airports such as Chattanooga Metropolitan (CHA) who plan to add government funded FBOs where market consolidations have already occurred will be “disappointed” in the outcome. “Adding a government subsidized FBO where the free market has already undergone consolidation makes absolutely no sense.”
When asked about the future of TAC Air at CHA, Sasfai replied “TAC Air has invested millions of dollars into Chattanooga and provides more than 30 jobs. There is very little difference between CHA and GMU in that aviation support services can be provided more cost effectively by a single provider; over saturating markets such as CHA and GMU with service providers typically results in higher prices – not lower prices – as each operator struggles to cover its fixed costs. TAC Air is fully committed to the CHA market and will continue to operate and do everything we can to protect the jobs of our Chattanooga associates.”
For more information on TAC Air, log on to www.tacair.com