Geneva, Switzerland-based TAG Aviation Holding announced it has acquired the freehold for Farnborough Airport (EGLF) from the UK´s secretary of state for defense. Terms of the acquisition weren´t disclosed. When TAG signed the head lease in 2003--a perquisite for acquisition--it said the transaction doesn´t change its purpose to provide a long-term home for the Farnborough Air Show. The company has and will continue making substantial investments in EGLF. TAG plans to redevelop the airport into a full-service business aviation facility; it´s preparing an airport master plan, which will be presented for public consultation in 2008.
Brandon O´Reilly, CEO of TAG Farnborough Airport Ltd., subsidiary of TAG Aviation, said the acquisition reinforces TAG´s strong commitment to its airport project. He said the airport project would additionally provide surrounding communities with further access to business aviation.
TAG has partnered with Blink Ltd., a new European air-taxi service that ordered 30 Cessna Mustang very light jets. Beginning in 2008, under TAG´s air carrier certificate, the operator will operate Blink´s Mustangs. TAG´s two-pilot crew will operate the aircraft, with seating for up to four passengers; the Mustang twin-engine jets will have a lavatory with a privacy curtain.