Innovative Finance and Alternative Sources of Revenue for Airports (2007) / Chapter Skim
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Pages 34-36
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From page 34... ...
Kennedy International Airport. • Private airport operators -- The Indianapolis Airport Authority and Susquehanna Area Regional Airport Authority each entered into 10-year agreements with BAA plc (formerly the British Airport Authority)
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From page 35... ...
Barriers to privatization in the United States include: • Access to federal grants -- Airports in the United States have access to AIP grants from the federal government, unlike airports in many other parts of the world. Airport operators must agree to a series of grant assurances that, among other things, require all airport revenues to be expended for costs of the airport.
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From page 36... ...
: – Generate a new rate-setting methodology that can give certainty and stability to the airlines; – Increase operating efficiencies; – Improve customer amenities and satisfaction; – Create economic benefits for the city; – Ensure adequate upkeep of capital equipment and investment in capital improvements; and – Continue to provide a service to the public by maintaining strict guidelines for noise and environmental mitigation, safety and security requirements, and employee protection. • Bond defeasance -- Approximately $1.3 billion of Midway Airport revenue bonds would have to be defeased as part of the privatization deal.
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