Cove Capital Buys Fly Alliance Charter Certificate
Fly Alliance sold its Part 135 charter and Part 145 maintenance certificates to Cove Capital Investments, a firm co-owned by its former owner.
Updated on Nov. 4, 2026 in Business Travel
Fly Alliance sold its Part 135 charter certificate and Part 145 maintenance certificate to Cove Capital Investments, which closed on October 30. Cove Capital is co-owned by Kevin Wargo, Fly Alliance's former owner and co-founder.
Why it matters
The transaction places Fly Alliance's operating authority under a company tied to its previous leadership, reshaping control of an aviation business based in Wilmington. Cove Capital will do business as Atelier Aviation.
Sky Travel manages twelve Hawker 400XPs, three of which are available for charter. Three Gulfstream Aerospace jets are expected to transition to a new operator, though the operator has not been named.
The players
Cove Capital Investments
Cove Capital Investments is the firm that acquired Fly Alliance's Part 135 and Part 145 certificates and will operate as Atelier Aviation.
Kevin Wargo
Kevin Wargo is a co-founder and former owner of Fly Alliance who co-owns Cove Capital Investments.
The details
Altitude Parts, another Cove Capital-owned company, acquired Fly Alliance's aircraft parts inventory and warehouse facilities in August through a similar agreement. Fly Alliance also secured a San Marino air operator certificate in mid-2026 and was pursuing an Indian non-scheduled operator's permit expected in the fourth quarter of 2027.
Timeline
August 2026: Altitude Parts acquires Fly Alliance's parts inventory and warehouses.
Mid-2026: Fly Alliance secures a San Marino AOC for a Global Express.
October 30, 2026: Sale of charter and maintenance certificates to Cove Capital closes.
Fourth quarter of 2027: Expected timing of the Indian NSOP for Fly Alliance operations.
Roadmap
Part 135 charter certificates govern on-demand private aviation in the United States, and their transfer reflects consolidation among operators managing fractional and jet card fleets. The sale follows a broader pattern of aviation companies separating certificates, parts inventories, and fleet management into related entities.
Jet card members of Fly Alliance will continue service under the new ownership structure, which may affect how they book flights. Travelers planning private charters should confirm which operator holds their certificate before booking.
The takeaway
Ownership changes in charter aviation can shift who controls booking, maintenance, and fleet operations, so travelers should confirm the operating certificate holder before committing to a flight.
Further reading
Explore more on Business Travel and how private aviation companies operate in the region.
Source note: This article includes information reported by Ch-aviation.
