SKYSERVICE AND FONTAINEBLEAU DEVELOPMENT PARTNER TO DEVELOP NEW FORT LAUDERDALE FBO

Fontainebleau Aviation to open second South Florida Private Jet Center at FLL

TORONTO, Feb. 22, 2024 /PRNewswire/ - Leading aviation company Skyservice Business Aviation ("Skyservice") today announced the completion of its investment in Fontainebleau Aviation's fixed-based operator (FBO) development project at Fort Lauderdale-Hollywood International Airport ("FLL").  This exciting venture marks the first co-development project between Skyservice and Fontainebleau Development as the companies join forces to create Florida's ultimate private aviation gateway for leisure and business travel.  

"The collaboration between Skyservice and Fontainebleau in developing the new era of FBOs has been remarkable," says Skyservice Chief Executive Officer Benjamin Murray. "Today's clients expect the amenities and conveniences of an FBO to match those of the best hotels, as well as efficiency and safety that exceed any standard or policy. We're pleased to work with FLL and Broward County to meet these expectations and provide the best of what business aviation has to offer."

The Fontainebleau Aviation FBO at FLL, which is expected to be complete by early 2025, will support an 80,000-square-foot hangar, a 25,000-square-foot opulent lobby and hangar offices, and an executive suite that includes an AV-equipped board room accommodating groups up to 20 people. The facilities have been expertly engineered to support the largest of business aircraft. Fontainebleau Aviation is now accepting hangar lease agreements.

"We are thrilled to partner with Skyservice to develop a one-of-a-kind luxury FBO grounded in 37 years of aviation thought leadership and award-winning service and safety," says Fontainebleau Development Chairman and Chief Executive Officer Jeffrey Soffer. "This is a first in our expanding portfolio of premier destinations and best-in-class luxury experiences to bring to the aviation industry."

Home to five of the top 25 busiest business aviation airports in the United States, Florida is one of the most significant markets in the industry. Upon completion, the Fort Lauderdale FBO positions Skyservice, through its joint venture with Fontainebleau Development, at two of the state's busiest business aviation airports: Fort Lauderdale-Hollywood International Airport  and Miami-Opa locka Executive Airport.

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.

About Skyservice™

Skyservice is a North American leader in business aviation dedicated to innovation, responsible operations, safety, and service excellence. Celebrating over 37 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/.

About Fontainebleau Development

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