State announces upcoming sale of Caledonia County Airport to group founded by Beta CEO

The Vermont Agency of Transportation is poised to sell Caledonia County Airport to CRAFTVT, a group founded by Beta Technologies CEO Kyle Clark.

The agency announced on Wednesday that it had entered into a sale and purchase agreement with the company.

“We are excited about the opportunities for infrastructure improvements and economic development under new, private management of this vibrant Vermont airport,” Transportation Secretary Joe Flynn said in the announcement. “We want to assure current and future airport users that they will have full access in perpetuity.”

Before the sale can move forward, the Federal Aviation Administration must conduct an assessment to determine whether the airport can be privatized, according to Trini Brassard, deputy director at the Agency of Transportation. Brassard said the assessment process is “extensive” and could take several months to a year.

Airport users have long called for improvements to the Lyndon facility, including rebuilding the main runway and taxiways, which are in poor condition. Other state airports were in line to receive federal funding before the facility, and state officials argued that privatization would help modernize the airport more quickly.

Lawmakers approved the sale of the airport in 2023, after which the Agency of Transportation initiated a request for proposals. Flynn described Beta Technologies as a party interested in buying the airport to lawmakers at the time.

CRAFTVT’s proposal was “the only response we got, but it was good, so we considered it,” Brassard said.

If the sale goes through, CRAFTVT would pay the state $500,000 in cash, pave the runway within the first two years of acquisition, honor all current leases and leave the airport publicly owned.

CRAFTVT members, who include Clark and his wife, Katie Clark, who also works at Beta, and Bina and Martine Rothblatt, are “aviation enthusiasts and entrepreneurs who believe that small general aviation airports like Caledonia County State Airport are important economic and community assets,” Dennise Casey, a spokeswoman for the group, said in responses to emailed questions.

“It is essential that airports like Caledonia County keep information up to date and available to the general public,” she said.

Casey said the group is waiting for official approval from the Federal Aviation Administration before developing detailed plans for the airport. However, the buyers expect to expand by upgrading buildings and potentially building more hangars, which are in demand, she said.

“Increasing access to the airport and improving amenities and services will make it a regional attraction that supports businesses and recreation in the area,” Kyle Clark said in a news release from the Transportation Agency. “In my meetings with people across the region, it’s clear that there is an energy around increasing opportunities here, and the airport is part of that vision.”

The group has also been communicating with nonprofits, business owners, city leaders, elected officials and educational leaders, Casey said. They hope to offer economic and educational opportunities “through internships and taking courses offered by local institutions,” for example.

“We intend to continue these conversations and work with leaders as we move forward,” she said.