Cruise Aviation Associates, Inc.
How we got $1.5M
Based on its 12 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Some signs of a sale
- In business 37 years (since 1989)
From public records and the company's website, not a statement that it's for sale.
What they do
Cruise Aviation is a fixed-base operator (FBO) at Max Westheimer Airpark in Norman, Oklahoma, serving the general aviation community with fuel and aircraft services.
From the company's website. Industry: Other Support Activities for Air Transportation.
Customers & suppliers
Customers
- Defense Logistics Agency · federal contracts $349K
Suppliers & brands
- Phillips 66 · brand it sells or installs
Estimated value over time
▲ 2% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| CRUISE AVIATION ASSOCIATES, INC. this business | $4.0M | — |
| SAS AIRCARE OF OKLAHOMA, LLC Norman | $17.5M | 3.2 mi |
| DII RESOURCES LLC Moore · 1 employees | $556K | 6.1 mi |
| JRR AIRCRAFT MANAGEMENT, LLC Norman · 3 employees | $1.8M | 7.4 mi |
| POWELL AIRCRAFT TITLE SERVICE LLC Oklahoma City · 5 employees | $1.7M | 9.8 mi |
| POWELL AIRCRAFT TITLE SERVICES, LLC Oklahoma City · 5 employees | $1.9M | 9.8 mi |
| DII RESOURCES LLC Oklahoma City · 1 employees | $556K | 11.1 mi |
The full calculation
| Employees reported to the SBA | 12 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $3.7M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $3.3M |
| Estimate: the two combined (geometric mean) | $4.0M |
| EBITDA margin (industry, adjusted for size) | 12% |
| EBITDA = revenue × margin | $474K |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $1.5M |
| Multiple for this size and industry | 3.2× |
| Value range | $798K – $2.1M |
| Revenue range | $2.6M – $4.6M |
| EBITDA range | $312K – $540K |
| Industry (NAICS) | Other Support Activities for Air Transportation (488190) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022, OK. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
History & advisors
“Independently operated by the same owners since we opened our doors in 1989, Cruise Aviation comprises a team of professionals dedicated to making your FBO experience top-notch.”
Advisors
- BankingFirst United Bank and Trust CompanyPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| First United Bank and Trust Company PPP 2020, PPP 2021 | All 2,229 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/8/2020 | first | $124K | 11 |
| 1/30/2021 | second | $91K | 12 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Cruise Aviation Associates, Inc.
Cruise Aviation Associates, Inc. is an other support activities for air transportation company in Norman, Oklahoma, in business since 1989. Its estimated annual revenue is about $4.0M, with roughly $474K of EBITDA. It has about 12 employees. Its estimated business value is $1.5M (likely range $798K–$2.1M).
Common questions
- Who owns Cruise Aviation Associates, Inc.?
- The owner of Cruise Aviation Associates, Inc. isn't in public records we've found yet. If you own or run the business, you can add or correct its details on SeeBITDA.
- How much revenue does Cruise Aviation Associates, Inc. make?
- SeeBITDA estimates Cruise Aviation Associates, Inc.'s annual revenue at about $4.0M (likely between $2.6M and $4.6M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Cruise Aviation Associates, Inc. worth?
- About $1.5M, roughly 3.2× its estimated EBITDA of $474K, typical for a other support activities for air transportation company its size. Likely range: $798K–$2.1M.
- How many employees does Cruise Aviation Associates, Inc. have?
- About 12, as reported on its PPP loan.
- When was Cruise Aviation Associates, Inc. founded?
- Cruise Aviation Associates, Inc. has been in business since 1989.