A new fixed-base operator (FBO) has been granted a lease at the Orlando Executive Airport. Sky Harbour Group will invest $40 million as part of a multi-year program. It will be the airport’s third FBO. A fixed base operator is granted the right by an airport authority to provide services such as fueling, parking and hangar space for general aviation users.

The project will include three phases of development, with a total of 202,800 square feet of aircraft storage once completed. Each phase would include 67,600 square feet of hangar space for general and business aviation planes.

The first phase will include a 5,000-square-foot terminal, two hangars, ramp, off-site improvements and a fuel farm, which are projected to start construction in second-quarter 2025 and be completed in 2026.

Sky Harbour will pay $33 million over the first 30 years of the lease in ground rent. The project is expected to create or preserve over 200 jobs.

2023 was the busiest year at Orlando Executive in more than two decades, with a total of 181,227 tower-verified operations.