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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.
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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.