Puerto Rico is drowning in debt. It is now in the process of leasing its Luis Munoz Marin International Airport to a Mexican firm Aeropuertos del Sureste (Aerostar). The airport (LMM) is the largest in the Caribbean, and it could become an international gateway to Central and South American cities. The lease deal lasts 40 years. However, studying the financial terms of the deal, it is not.
Airport Investment Partnership Program, formerly Airport Privatization Pilot Program, allows public airport sponsors to sell or lease an airport and to exempt them from certain federal requirements that could otherwise make privatization impractical or public sponsors to manage an airport jointly with private operators.Summary (). The San Juan Airport privatization project involves a 40-year lease agreement between the Puerto Rico Port Authority (PRPA), Puerto Rico Public-Private Partnership Authority (P3 Authority) and Aerostar Airport Holdings, LLC (AAH), a joint venture alliance of two Mexican companies (ASUR and Highstar Capital).U.S. regulators said they approved a plan for investors to operate Puerto Rico's main airport for profit, boosting a long-standing federal effort to test the private-sector's appetite for.
With St. Louis Lambert as a non-starter, only Airglades International Airport, a proposed all-cargo facility in Florida, remains on the Federal Aviation Administration’s approved projects list. Since the FAA’s privatization program began in 1996, only two U.S. airports have adopted such plans, with one eventually returned to public management.
As the Caribbean’s largest airport by passenger volume (with just under 9 million flyers per year), Luis Munoz Marin Airport becomes the first of its kind in the U.S. to be operated by a private.
The Airport Privatization Pilot Program has attracted little interest from cities. But there are some signs that St. Louis’ bid could foreshadow a wider movement toward public-private partnerships.
In 2019, the airport handled 9.4 million passengers, corresponding to around 90 percent of the total Puerto Rican passenger volume. San Juan Airport, which celebrates its 65th anniversary in 2020, is the first and currently the only large airport in the USA to be successfully privatized within the framework of the FAA Airport Privatization Pilot Program.
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Airport Privatization: Issues and Options for Congress Congressional Research Service 2 Figure 1. Levels of Airport Privatization Source: Airport Cooperative Research Program (ACRP) Report 66, “Considering and Evaluating Airport Privatization,” p.
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Finally, the list includes Canada’s Public Sector Pension Investment Board (PSPIB) or PSP Investments as it is known, which is involved with nine airports around the world including a 40% stake in the so-far successful lease on the San Juan Luis Munoz Marin airport in Puerto Rico (which could count in its favour), together with the German AviAlliance which was sold to PSP in 2013 and which.
The busiest airport in the Caribbean when measured by passenger traffic, Luis Munoz Marin International Airport (SJU) is located three miles southeast of the Puerto Rican capital of San Juan. In 2014, 8.6 million passengers flew into and out of the airport, which has two runways and two terminals.
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The past few years have seen an increased number of attempts to involve private capital at U.S. airports. The results of these potential public-private partnerships (P3s) have been mixed, with high-profile failures at Chicago Midway followed by successes in Puerto Rico and at the Denver Airport Great Hall.
Westchester County Airport privatization: Still a long way to go, consultants say. There is still a lot to be done on airport privatization, yet another set of consultants tell the county legislature.
New players enter St. Louis airport privatization debate: St. Louis and St. Charles counties Oct 19, 2019 They support a study that could call for regional control of St. Louis Lambert.
St. Louis, a major city along the Mississippi River in the U.S. Midwestern state of Missouri, has taken a step forward in assessing whether to seek a private operator for St. Louis Lambert International Airport (STL) under the Federal Aviation Administration’s (FAA’s) Airport Investment Partnership Program, formerly the Airport Privatization Pilot Program.