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Getbig Main Boards => Gossip & Opinions => Topic started by: Palumboism on June 12, 2017, 05:06:54 PM
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St. Louis wins U.S. approval to explore airport privatization
By David Shepardson | WASHINGTON
The U.S. Transportation Department said on Monday it has granted preliminary approval to St. Louis to explore putting its city-owned airport under private management.
The announcement could help gauge private sector interest in the Trump administration's calls for investors to boost infrastructure.
The Missouri airport would become the second major U.S. airport after San Juan, Puerto Rico to operate under private management.
The Transportation Department told Reuters it approved the preliminary application of St. Louis Lambert International Airport, owned and operated by the city of St. Louis, under a 1996 law that allows the Federal Aviation Administration to approve up to 10 pilot airport privatization projects.
U.S. President Donald Trump's administration plans to unveil an infrastructure plan worth at least $1 trillion over 10 years through a mix of public and private spending but has not disclosed how much federal money it will seek.
Preliminary approval "demonstrates the administration’s commitment to leveraging innovative financing strategies to revitalize our nation’s aviation infrastructure," Transportation Secretary Elaine Chao said in a statement.
http://www.reuters.com/article/us-missouri-airport-privatization-idUSKBN17Q0VA (http://www.reuters.com/article/us-missouri-airport-privatization-idUSKBN17Q0VA)
I'm in favor of this move. It's pathetic how badly some of these airports are run considering how important they are to the city and states they server.
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You could run them better. in Spain you have two parts to the airport, the utility transportation part that makes a govt bond linked return, about 4% at moment and then the commercial real estate that is free to be run commercially.
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Ronald D. Utt, Ph.D.
Great Britain pioneered the trend in 1987 when it sold seven airports, including Heathrow and Gatwick, in a public share offering for $2.5 billion.
The new owner, BAA PLC, has since invested more than $5 billion in the seven airports and last year alone paid $340 million in taxes on profits to the British government. Contrast that with U.S. airports, most of which are tax users.
Over the last two years, more than 60 airports were sold or leased to private owners around the world, from Australia and Mexico to Germany and Italy. Because these transactions occurred recently, the prices (or rents) paid by investors can be used by local U.S. officials to determine the potential value of their airport.
It turns out many American cities are sitting on a source of extraordinary untapped wealth.
Using the "per-enplaned passenger basis," an industry rule of thumb that ties the value of an airport to the number of passengers it serves each year, the potential worth of the top 71 U.S. airports falls somewhere between $90 billion and $100 billion.
Consider Atlanta's Hartsfield and Chicago's O'Hare, the nation's busiest airports. Each serves more than 30 million passengers a year and each may be worth as much as $5.5 billion.
New York could gain up to $5 billion through the sale of Kennedy and LaGuardia airports.
Both Los Angeles International and Dallas-Ft. Worth could fetch more than $4.5 billion each, while Miami International might bring in as much as $3 billion.
http://www.heritage.org/government-regulation/commentary/airport-privatizationthe-windfall-denied-us-cities (http://www.heritage.org/government-regulation/commentary/airport-privatizationthe-windfall-denied-us-cities)
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When England privatised the Intercity n Underground everything went to shit
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When England privatised the Intercity n Underground everything went to shit
underground is not privatised, railways are given out on private operating contracts. they will probably not be continued when up.
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yes privatize everything.
EVERYTHING.
down with the state!!
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Get ready to pay $15 an hour for parking
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Does it really matter? Flying is pure torture.
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yes privatize everything.
EVERYTHING.
down with the state!!
I think you may be trolling here, but I tend to agree with what you've written.
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I think you may be trolling here, but I tend to agree with what you've written.
you're a smart man.