Kennedy Lewis-Backed Ocean Aviation Acquires National Jets, Plans Major FBO Expansion at Fort Lauderdale-Hollywood International Airport

Ocean Aviation, backed by Kennedy Lewis Investment Management, has acquired National Jets at Fort Lauderdale-Hollywood International Airport. The deal establishes a two-airport private aviation platform in South Florida. Financial terms of the acquisition were not disclosed.

National Jets has operated at the airport for more than 60 years and currently occupies an approximately 20-acre leasehold providing about 22,000 square feet of hangar space. It will continue operating under its existing brand. Ocean Aviation plans a phased redevelopment of the Fort Lauderdale facility that includes a large communal hangar, two private hangars, a new FBO terminal with executive offices, and a new fuel farm capable of serving aircraft up to large-cabin business jets. Once fully developed, the Fort Lauderdale operation is expected to exceed 150,000 square feet of hangar space.

The Fort Lauderdale acquisition complements Ocean Aviation's separate development at Miami Executive Airport, where the company holds a 40-year ground lease covering 40 acres. The planned Miami facility could include as much as 400,000 square feet of hangar space along with a premium terminal and fuel farm. Kennedy Lewis Investment Management, which has approximately $37 billion under management, is providing capital for the platform's development.

Romain Grosjean, Chairman of Ocean Aviation, said the company is "developing two of the premier private aviation gateways in South Florida, with a clear mandate to set a new standard for the FBO experience in this market." David Chene, Managing Partner at Kennedy Lewis Investment Management, said the acquisition "reflects our conviction in the South Florida market and our commitment to building Ocean Aviation into the preeminent premium FBO platform in the region."

This deal is an example of institutional capital moving into FBO ownership, where a private-equity-backed platform buys an established operator and layers a large-scale physical expansion on top of an existing customer base and leasehold. National Jets brings six decades of local relationships and an operating brand; Kennedy Lewis brings the balance sheet to fund hangars, terminals and fuel infrastructure that a standalone FBO would struggle to finance alone.

Across South Florida, the combined Fort Lauderdale and Miami Executive projects would give Ocean Aviation control of two gateway airports serving the same ultra-high-net-worth and corporate flight department customers, rather than competing separately for the same traffic. Hangar capacity is the scarce asset in this market, and the scale being proposed — over 150,000 square feet at Fort Lauderdale and as much as 400,000 square feet at Miami Executive — would materially expand the region's large-cabin jet capacity if built as described.

What remains to be seen is the construction timeline and phasing for both sites, since the Fort Lauderdale figures describe the end state of a redevelopment rather than what exists today. Whether National Jets' brand and existing customer contracts persist unchanged through that construction period, and how quickly Kennedy Lewis deploys further capital toward the Miami Executive site, will indicate how fast this platform actually scales.