SKYSERVICE AND FONTAINEBLEAU AVIATION ESTABLISH EXECUTIVE AVIATION PARTNERSHIP

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Collaboration expands Skyservice operations to South Florida; elevates renowned Fontainebleau luxury brand within the private aviation sector

TORONTO, Oct. 17, 2023 /PRNewswire/ - Leading aviation company Skyservice Business Aviation ("Skyservice") today announced an agreement to purchase interests in the Fontainebleau Aviation fixed-based operator (FBO) at Miami Opa-Locka Executive Airport ("OPF") and a new FBO at Fort Lauderdale-Hollywood International Airport ("FLL") currently under development by Fontainebleau Aviation. This investment, which remains subject to customary approvals for transactions of this type, expands Skyservice's operations in South Florida and elevates the storied Fontainebleau luxury brand within the rapidly growing private and business aviation sectors.

"This is an exciting milestone for Skyservice as we extend our footprint and renowned capabilities to Florida, which has always been a top destination for our customers," says Skyservice President and Chief Executive Officer Benjamin Murray. "Fontainebleau is an iconic brand that aligns perfectly with our values of service excellence, safety and exceptional amenities. We are differentiated by our world-class service offering across all business lines and our proven ability to deliver bespoke solutions to a highly discerning customer base as demand for private aviation travel in North America continues to grow. We are delighted to partner with Fontainebleau Aviation, which shares our commitment to continuously innovating and elevating our clients' experience above and beyond in Miami, Fort Lauderdale and potentially new premier locations together in the future."  

Skyservice is one of the largest business aviation platforms in North America. With the addition of Miami Opa-Locka Executive Airport ("OPF") and Fort Lauderdale-Hollywood International Airport ("FLL"), the company encompasses 12 airports across the continent, including Bend Municipal Airport (BDN) and Redmond Municipal Airport (RDM) in Oregon, Helena Regional Airport (HLN) in Montana, King County-Boeing Field International Airport (BFI) in Seattle, and Napa County Airport (APC) in California. In Canada specifically, Skyservice operates at Toronto Lester B. Pearson International Airport (YYZ) in Toronto, Montreal-Pierre Elliott Trudeau International Airport (YUL) in Montreal, Ottawa Macdonald-Cartier International Airport (YOW) in Ottawa, Calgary International Airport (YYC) in Calgary, and Vancouver International Airport (YVR) in Vancouver. Additionally, the company maintains two specialized facilities for heavy maintenance and avionics in Muskoka, Ontario, and Montreal, Quebec.

The partnership also allows Skyservice and Fontainebleau Aviation to seize an expanded share of the growing business and private jet market. Established more than 30 years ago, Fontainebleau Aviation has consistently redefined luxury and service standards for travelers and operators, positioning itself as an industry leader in an era of rapid growth and innovation.

"We are excited to establish a partnership with Skyservice, starting with our marquee locations at two of the busiest airports for private aviation in the United States," says Fontainebleau Development Chairman and Chief Executive Officer Jeffrey Soffer. "Skyservice has a distinguished pedigree and reputation for excellence in the aviation industry and is the ideal steward and partner for the next phase of growth at OPF, FLL, and other locations in the United States as we focus on growing our portfolio of premier destinations and unique luxury experiences."

Both OPF and FLL represent two of the top 20 business aviation markets in the United States. The Fontainebleau Aviation FBO at OPF, the eighth-busiest U.S. airport near downtown Miami, provides premier services for business aviation travelers with approximately 350,000 square feet of hangar space, an executive terminal and office facilities. Fontainebleau Aviation's second location at FLL, the seventeenth-busiest U.S. airport, has commenced construction of 80,000 square feet of private hangars and approximately 35,000 square feet of world-class private terminal and executive office space.

Financial terms of the transaction were not disclosed. Skyservice was provided with legal advice by McCarthy Tétrault LLP and DLA Piper LLP. Fontainebleau Development was represented by Cooley LLP and advised by William Blair & Company.

Skyservice is a North American leader in business aviation dedicated to innovation, responsible operations, safety, and service excellence. Celebrating over 36 years of distinction, Skyservice is at the forefront of the business aviation industry, with best-in-class facilities across North America. Our skilled maintenance teams, award-winning fixed base operation facilities, first-class aircraft management, private jet charter services, aircraft sales, and acquisitions teams combine to deliver an exceptional experience to our valued customers. At Skyservice, we aim higher and reach further to best serve our clients. To learn more, visit http://www.skyservice.com/.

Fontainebleau Development, founded by Chairman and Chief Executive Officer Jeffrey Soffer and led by his partner Brett Mufson, is one of the country's premier real estate development and hospitality groups, with a diverse portfolio that includes properties in the hospitality, gaming, residential, retail, commercial, and luxury services sectors.  The company builds, owns, markets, and operates their properties, providing expertise in each stage of a project's life cycle with a relentless focus on delivering the best quality in everything they do. Fontainebleau Development has established a diverse portfolio of premier assets such as Big Easy Casino, Fontainebleau Miami Beach, JW Marriott Turnberry Resort & Spa, Hilton Downtown Nashville, and numerous residential landmarks such as Turnberry Ocean Club, Turnberry Ocean Colony, Porto Vita, the Tresor and Sorrento towers at Fontainebleau Miami Beach. The company has also built nine residential towers in Las Vegas, including Turnberry Towers and Signature (in partnership with MGM Resorts International), and will open the 67-story Fontainebleau Las Vegas luxury resort and casino on the Las Vegas Strip in December 2023. Its luxury services division includes Fontainebleau Aviation, Turnberry Yacht Club & Marina, Turnberry Isle Country Club, and some of the highest grossing and well-known nightlife, dining and health and wellness destinations in the world. Over a 70-year history, Fontainebleau has been involved in over 100 projects representing in excess of $38 billion in total transaction value.

SOURCE Skyservice Business Aviation Inc. - Mississauga, ON