Blog + Updates
Field Notes
Field Notes is operator-level analysis on lower-middle-market aviation: succession dynamics, regulatory shifts, certificate arbitrage, valuation dislocations, and the systems that turn fragmented shops into scaled platforms.
No fluff. Just signal.
FAA Certificate Backlog Is Creating a Once-in-a-Lifetime Acquisition Window
The FAA's 18 to 36 month certification backlog has turned existing aviation certificates into one of the most valuable and under-recognized assets in lower-middle-market M&A. For operators with certificates already in hand, the moat has never been deeper. For acquirers who understand the arbitrage, the window is now.
Four Forces, One Window: Why 2025 to 2030 Is the Decade for Aviation M&A
Capital vacuum, succession wave, regulatory moat, labor crisis. Four structural forces are converging in aviation's lower middle market. Here's why the next five years matter more than the last twenty.
What Aviation Business Owners Need to Know About Selling in 2026
Thinking about selling your aviation business? Whether you run a Part 145 shop, a flight school, or a charter operation, the market conditions in 2026 are creating a rare window for founders ready to transition. Here is what you need to know before you take the first call.
The Pilot Shortage Isn't a Headline; It's a $50B Opportunity.
Between 72,000 and 649,000 pilots will be needed globally through 2042. That is not a staffing problem. It is a structural economic shift that is repricing every asset in the flight training, pilot staffing, and aviation workforce pipeline. The operators who own this infrastructure are sitting on something far more valuable than they realize.
Why Generalist Private Equity Keeps Failing in Aviation
Every few years, a generalist PE firm decides aviation looks like a good idea. They model the returns, hire a consultant, and write a check. Then they discover that Part 145 is not a highway, FSDO is not a radio station, and SMS does not mean text messaging. Here is why domain expertise is not optional in this sector.