TAG Leases Farnborough

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TAG Aviation signed the head lease in 2003 and has now acquired the freehold for Farnborough Airport (EGLF) -- home of the Farnborough Air Show -- from the UK's secretary of state for defense. Fans of the Farnborough Air Show need not expect a change of venue; TAG says it intends to keep the airport as the show's long-term home. TAG says it will invest in the airport to transform it into a full-service business aviation center under a plan to be made public in 2008. Also in 2008, TAG will begin to operate European air-taxi service Blink Ltd.'s 30 Cessna Mustang VLJs as they are delivered. Stateside, TAG recently agreed to pay $10 million to the FAA as part of a final resolution for its role in the operations of AMI Jet Charter. TAG has since announced plans to offer a VLJ Flying Club ownership program with investor Rolf Isley.