Tuesday, February 26, 2013
FAA Approves Puerto Rico Airport Privatization Deal
U.S. Transportation Secretary Ray LaHood has given final approval for a plan to allow the Puerto Rico Port Authority to move forward with the privatization of the island’s largest airport.
Under the deal, Aerostar Airport Holdings (AAH) will become the private operator of Luis Munoz Marin Airport in San Juan on a 40-year lease, with an up front payment of $615 million and $2.5 million annually going forward.
The privatization deal will be complete when Puerto Rico Gov. Alejandro Garcia-Padilla signs off on the deal. More