WINCHESTER — Avionics company On Wing LLC signed and executed a lease with the Winchester Regional Airport on Thursday afternoon to acquire the airport’s corporate hangar at 511 Airport Road.
On Wing will pay the airport $364,512 over the next five years to use the hangar. After the lease expires, the company will be given the option to renew it for another five years.
The 12,000 square-foot-hangar was built in 1991 and has five offices. It was previously being leased to Key Point aviation but has been vacant for about a year.
On Wing is a FAA-certified repair station that specializes in aircraft avionics — the electronic systems used in aircraft. The business conducts inspections, installations, repairs, maintenance and upgrades.
The business could operate on one or two large planes and as many as four to six airplanes at any given time, according to Airport Director Nicholas Sabo.
On Wing General Manager Robert Kline and Chief Inspector George Murphy established the business at the regional airport’s hangar at 615 Airport Road in 2013. On Wing LLC will continue to use the office space and hangar at 615 Airport Road in addition to its new location at 511 Airport Road. The new site will allow the company to expand its operations.
“It expands our capability to [host] larger aircraft,” Kline said. “ And that makes perfect sense. It’s more accommodating to our customer base.”
Kline said that On Wing will start operations at the new hangar on Jan. 1.
According to Sabo, On Wing’s lease agreement will bring the airport revenue of $70,032 during the next fiscal year.
“”We are excited for Robert and his business,” Sabo said. “We believe in their business plan and we are happy to support it in any way we can.”