Funds managed by Apollo and by KKR are both involved in a transaction concerning Atlantic Aviation, with the aviation-services platform valued at approximately $10 billion, though key mechanics of the deal have not been made public.
Atlantic Aviation, a private aviation services and fixed-base-operator network, is at the center of a transaction that values the business at roughly $10 billion, according to people familiar with the matter. Funds managed by both Apollo and KKR are involved.
Which side of the transaction each firm sits on, what stake is changing hands, and how the deal is being financed have not yet been made public. Those missing mechanics matter, but the valuation itself is already a meaningful data point.
A roughly $10 billion value for a business built around ground-handling and support services for private aircraft shows how highly investors continue to price recurring-revenue, high-barrier-to-entry private assets. The business behaves more like infrastructure than a traditional operating company, giving sponsors exposure to aviation activity without taking direct airline operating risk.
For now, the headline figure carries more information than the transaction structure. A disclosed stake size, closing date, or confirmation of which party is buying and which is selling would be the next development to clarify what the $10 billion valuation actually represents.