In a meeting last week, the board of directors at Wyoming’s Jackson Hole Airport (JAC) voted unanimously to purchase the existing FBO there for $26 million. The move came after the airport pondered allowing a competing FBO to be established at the airport for the first time in two decades.

Under FAA guidelines, the airport would have been required to accommodate a second service provider when its new fuel facility becomes operational in mid-2018. The FAA, however, provides a “proprietary exclusive” exemption to the mandate in situations where the airport operator itself chooses to exclusively own and operate the FBO. The existing service provider, Jackson Hole Aviation, suggested this avenue as the airport was preparing to open the RFP process.

JAC is prohibited by its lease with Grand Teton National Park to build outside of a 28-acre developmental parcel, much of which is already occupied by the airport’s terminal, runway, parking areas and other facilities. According to local news reports, the prospect of the airport conserving scarce land by avoiding the construction of duplicate facilities, as well as providing an additional revenue source, were deciding factors.

To take effect in May, the purchase will require an amendment to the airport’s budget that must be approved by the county and the town of Jackson. The airport expects to recoup its purchase price over the next five years, which equals the amount of time remaining on the FBO’s lease.