TAC Air, a fixed-base operation at the Bill and Hillary Clinton National Airport, has reached a tentative agreement to purchase a part of Central Flying Service’s operations.
Dick Holbert, the CEO at the family-owned Central Flying, said there was a letter of intent and the two companies were working on a purchase agreement, but details were not yet complete. In it, Central would divest itself of line operations — fueling and hangars — to TAC. Central would continue aircraft sales, charter flights, flight training and aircraft maintenance, which includes everything from interiors to avionice\s and paint.
Central has 21 hangars on 77 acres at the airport. Holbert said TAC would assume the land leases and buy the hangars, then lease space back to Central. TAC would be the sole fuel supplier under the deal. Holbert cautioned that the deal might not be completed.
TAC Air, a Truman Arnold company, purchased the assets of Supermarine of Little Rock earlier this year and started operating in Little Rock, its 14th fixed base operation.
Central Flying, in business since 1939, calls itself as the world’s largest fixed-based operator, with 21 hangars on 77 acres at the airport.
Holbert was anxious to dispel rumors that Central was being sold in its entirety. “We’re in our 75th year and we intend to be here a lot longer,” he said.