Aviation Facilities Company, Inc. (AFCO) is a Virginia Subchapter S corporation that was formed in May 1992 by Gerald T. Halpin and Francis X. Chambers, Jr., President & CEO, and a Vice President, respectively, of WEST*GROUP, a Virginia Development Company. Mr. Halpin served as AFCO's initial Chairman and Mr. Chambers as the initial President & CEO, and later, Chairman. Both currently serve on the AFCO Board of Directors. Mr. Charles (Chuck) Stipancic, Jr. took over as President & CEO in 2009.
AFCO was formed as a full-service real estate development and management organization specializing in airport and other transportation-related infrastructure such as air terminals, air cargo, air hangar, parking, and inter-modal transportation facilities. The company manages airports, owns and operates FBO's and parking facilities, and utilizing its own personnel and contracted services, has provided design, development, engineering and construction for its projects. AFCO invests in the assets, provides opportunities for its shareholders and others to invest in the properties, and manages those project assets after their development. In addition to airport, FBO and parking management, AFCO has become a leading developer of cargo facilities in the United States and currently owns, operates or has under development over 8 million square feet of buildings and aircraft apron at over 25 airports in the U.S. and around the world.