Monday, February 12, 2018

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Signature Aviation to build fixed base operator terminal-hangar at Stewart

NEW YORK – Signature Aviation, one of the fixed base operators at Stewart International Airport, will build a 28,000-square foot hangar and FBO terminal once a contract is approved by the Port Authority Board on Thursday.

The 35-year agreement would see the Port Authority receive total rent of over $5 million.

The deal will see Signature, which currently leases 10,500-square feet in an airport building, lease 125,000 square feet of land including 95,600sf along Route 17K in the Town of Newburgh. That property includes the Northeast Fuel Farm, which Signature would operate.

It would also have the right of first refusal to lease another 68,700sf of land to build a new hangar-terminal just north of the passenger terminal and invest a minimum of $5 million for design and construction of the facility.

Stewart has experienced an increase in commercial passenger, corporate and general aviation traffic.

Signature provides ground services and fueling for aircraft.

 


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