Following nearly two years of discussions involving spirited public input from the community and elected officials, the Pitkin County Board of Commissioners last week unanimously approved a new 30-year lease renewal for Atlantic Aviation to operate the lone FBO at Aspen/Pitkin County Airport (KASE) in Colorado. Notably, the agreement contains requirements to offer sustainable aviation fuel.
In April 2023, Atlantic’s proposal was selected as the winner of the airport’s RFP process, beating out six other competitors. Yet the process of actually approving the lease had dragged on as officials and members of the public proffered alternatives, including the airport’s self-management of the facility.
The terms of the lease call for a minimum annual guarantee of $14 million in rent based on revenue calculations, escalating to as much as $23 million a year by the end of the lease. In addition, Atlantic is slated to make more than $100 million in investments in environmental and operational improvements, bringing its commitment at KASE to more than a billion dollars over the span of the lease.
“This was an important step in the process,” said Atlantic executive v-p Clive Lowe. “We appreciate the collaborative work the board of county commissioners in Aspen has engaged in with us and, as we move forward in the approval process, we look forward to the next meeting which is upcoming later this month.”