Altitude Parts Acquires Fly Alliance's Aircraft Parts Business in $100M Deal
Altitude Parts, led by Kevin Wargo, acquired Fly Alliance's aircraft parts business for approximately $100 million, closing August 17 with an Orlando warehouse of 156 disassembled aircraft and over 42,000 spare parts.
Original report
www.corporatejetinvestor.com
Industry impact
Shifting from one-time parts sales to overhaul-and-repair revenue signals how surplus-parts suppliers are trying to capture recurring value amid tightening engine and rotable inventory supply.
What happened
Altitude Parts, led by Kevin Wargo, has acquired all aircraft parts inventory and warehouses from Fly Alliance in a transaction valued at approximately $100 million. The deal officially closed last week, with the transaction taking effect as of August 17, though some closing elements are expected to be completed over the following two weeks. The acquisition includes an Orlando, Florida warehouse holding 156 disassembled aircraft and more than 42,000 spare parts.
Wargo co-founded [Fly Alliance](/entities/a57f048262be56be96853a1821a27589) with Christopher Tasca in 2019 before departing the company in July following a management buyout. He subsequently founded Cove Capital Investments in September 2025 alongside Samantha Nunez. Cove Capital holds ownership in both Altitude Parts and Sky Travel Solutions, a management and charter firm operating 11 aircraft. Not long after Wargo's departure, Fly Alliance approached him to take over the parts segment. "We found it best that the parts business got broken off and sold on to me," Wargo said.
Under Fly Alliance, the parts business averaged approximately three aircraft disassemblies per month over the past three years, focused on Gulfstream, Global Express, and Learjet models. Wargo plans to double that output and expand into new aircraft types, with the company taking on its first Hawker 4000. All existing staff will remain in their positions, Florida will continue as the base of operations, and Manny Perez, who headed the parts segment at Fly Alliance, joins Altitude Parts as president. A head of finance will also be added. Wargo said the company plans to establish physical space in the UAE within the next 12 months to serve the Middle East, India, and the rest of Asia, with entities already established including a San Marino AOC, an India NSOP, and a base of operations in Dubai.
Industry impact & what to watch
The transaction reflects a broader repositioning underway in the aftermarket parts business, where firms that once treated disassembly as a source of one-time part sales are shifting toward overhaul-and-repair cycles that generate recurring revenue from the same rotable units. [Fly Alliance](/entities/a57f048262be56be96853a1821a27589)'s model of selling parts outright or through exchanges without reinvesting in inventory is being replaced by Altitude Parts' plan to actively pursue overhauls and repairs, a change that ties the company's fortunes to turnaround capacity rather than just teardown volume.
That shift lines up with wider supply pressure across the sector: Wargo pointed to an engine shortage as a growth driver, noting that aftermarket engine programmes now need parts support and that overhaul turnaround times have increased fivefold compared with previous levels. A parts supplier that can keep rotables moving through repair rather than sale stands to capture more of that demand as operators wait longer for engine work to clear.
Whether the plan holds will depend on execution on two fronts: doubling disassembly output from roughly three aircraft per month while broadening beyond Gulfstream, Global Express and Learjet types into aircraft like the Hawker 4000, and building out the UAE facility within the stated 12-month window to reach Middle East, India and Asia customers. The already-established San Marino AOC, India NSOP and Dubai base give an early read on how fast that international footprint can materialize.
Who this affects
- Maintenance Repair and Overhaul (MRO) — A parts supplier moving into overhaul and repair work adds competition for aftermarket capacity already strained by longer engine turnaround times.
- Aircraft Management Companies — Shared ownership between a management firm and a parts disassembly business creates a potential pipeline from managed fleets into teardown inventory.
- Original Equipment Manufacturers (OEM) — Expanded aftermarket parts supply for a wider range of legacy aircraft types could shift demand away from new-part purchases on those platforms.
The underlying facts come from the originating publisher (linked above). The narrative, industry-impact assessment and per-role analysis below are produced independently by the AVI-GO intelligence team from public information. Cite as: AVI-GO, "Altitude Parts Acquires Fly Alliance's Aircraft Parts Business in $100M Deal" news brief, 2026-08-24.
How to cite
AVI-GO, “Altitude Parts Acquires Fly Alliance's Aircraft Parts Business in $100M Deal”. https://ai.avi-go.com/news/ai-news-center/news-briefs/altitude-parts-acquires-fly-alliance-s-aircraft-parts-business-in-100m-ed0a290a62ecdc715c146d2b43efbc4f
Figures carry an explicit measurement window — cite the window shown on this page, not the date you retrieved it.