Print
More News

After 40 Years, Air Wilmington Could Have New Owner

By Christina Haley O'Neal, posted Feb 19, 2018
Officials with the New Hanover County Airport Authority and Wilmington International Airport have confirmed that a sale of Air Wilmington is pending.

President and CEO of Air Wilmington Bill Cherry, the longtime owner of the private fixed-base operator (FBO), is looking to sell his stock in Air Wilmington, according to Carter Lambeth, chairman of the airport authority board.

The board unanimously gave its OK to the potential sale at its meeting Feb. 7, he said. According to Lambeth, the name Air Wilmington would remain along with its employees.

Cherry did not immediately return a call for comment Monday afternoon. Reached last week, Cherry did not acknowledge the deal but said he would discuss Air Wilmington Inc. later this week.

Air Wilmington serves the flight crews and passengers of corporate, general aviation and military aircraft.

Lambeth said the current owner Cherry is selling his interest in the company to New York-based Modern Aviation LLC, which is made up of two principal owners.

One principal owner is Mark Carmen, who was formerly with CM Equity Partners LP, Lambeth said. CM Equity Partners is not involved in Air Wilmington.

Air Wilmington has been on the aviation field at ILM since 1975, and the airport leases the land to the private business.

The business has been owned by Cherry and his family for more than 40 years, said Gary Broughton, deputy director of ILM. The FBO's ownership transfer could take place by the end of the month, Broughton said.

Further details about the potential sale and company were not immediately available.

Correction: This story has been corrected to indicate Mark Carmen was formerly with CM Equity Partners LP. CM Equity Partners is not involved in Air Wilmington.
Ico insights

INSIGHTS

SPONSORS' CONTENT
20180514 104209 51418120638

'I Hate...'

Steve Adams - School of Learning Arts
Rob20beale2 311791810

The Key to Project Success

Rob Beale - W.M. Jordan Company
Jim ellis headshot 10311631058

User-Centered Design Playbook: A Case Study

Jim Ellis - Signal

Trending News

Flooding Looms Along Water Street In Downtown Wilmington

Christina Haley O'Neal - Sep 24, 2018

Saffo On Saving Swamp Thing

Staff Reports - Sep 25, 2018

Open For Business: New Announcements (Sept. 24)

Johanna Cano - Sep 24, 2018

Off The Wall Aims For Bigger Facility On Gordon Road Site

Cece Nunn - Sep 25, 2018

While N.C. Ports Reopen, CSX's Embargo On Wilmington Rail Traffic Remains

Christina Haley O'Neal - Sep 25, 2018

In The Current Issue

WordPress Conference Cancels Due To Hurricane   

WordCamp Wilmington was among the events canceled because of Hurricane Florence....


Investing In Affordable Housing

A recent high-dollar deal in Wilmington represents not only a little more affordable housing in the city but also a good investment for the...


Checklist Of Post-storm Resources

Hurricane Florence has left many homes and businesses in the area with damages that range from simple repairs to more complicated and time-c...

Book On Business

The 2018 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2018 Power Breakfast - Dishing on the Restaurant Biz
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties
2017 Health Care Heroes