Macquarie infrastructure nears US$4.5b deal to sell Atlantic Aviation

[BENGALURU] Macquarie Infrastructure Corp is close to selling its Atlantic Aviation private aviation services network to KKR & Co Inc for around US$4.5 billion, a source familiar with the matter said, as US business jet flights surge.

A deal for Atlantic, the second-largest fixed base operator network, has not yet been signed, the source said.

Fixed base operators, or FBOs, a niche, fragmented industry that provides services ranging from hangars to fueling, have been drawing investor interest as private jet traffic rebounds in the United States.

Macquarie Infrastructure declined comment on Sunday.

REUTERS