Passenger Terminal
The daily portal for the latest airport passenger terminal news and views
   Sort by: relevance most recent


Aerostar Airport Holdings wins Puerto Rica airport contract

Aerostar Airport Holdings, LLC has been chosen by the Puerto Rican government to operate and lease the Luis Munoz Marin (LMM) International Airport for 40 years as a public-private partnership (PPP).

The company, which is a joint venture between Highstar Capital, an infrastructure investment firm, and Mexican airport management firm Grupo Aeroportario del Sureste, S.A.B. de C.V., was selected following a competitive bidding process.

"We are honored to be selected by Governor Luis Fortuno to be partners in the effort to improve efficiency and profitability at LMM International Airport," said Agustin Arellano Rodriguez, President of Aerostar. "We are committed to taking LMM to the next level to better serve the people of Puerto Rico and strengthen Puerto Rico's standing as a top tourism destination. Importantly, through this agreement all existing airport jobs will be preserved and future infrastructure investments will lead to further job creation in the years to come."

Over the course of the concession, Aerostar will invest US$1.4 billion (£890 million) in capital improvements, including an upfront US$615 million (£391 million) leasehold fee, with the goal of improving aviation services and passenger experience while creating crucial jobs for Puerto Rico.

In partnership with the Puerto Rico Ports Authority, Aerostar will ensure all existing workers' jobs and benefits will be maintained. The Puerto Rican government has indicated that it estimates that it will receive over US$2.6 billion (£1.65 billion) in revenues and other benefits from the PPP over the life of the lease.

The closing of the lease remains subject to a number of conditions precedent, including the award of a Part 139 operating certificate by the Federal Aviation Authority.

July 20, 2012


Your email address:

Monthly Poll >>

What is the biggest challenge facing the African aviation sector today?


Click here for listings and information on leading suppliers covering all aspects of the passenger terminal industry. Want to see your company included? Email Damien de Roche.

View all suppliers >>

Passenger Terminal World >>

Read latest issueNEW DIGITAL EDITION:
Passenger Terminal World January 2018 is now online.

Read now.

More Information>>

Railway Terminal World >>

Read latest issueNEW DIGITAL EDITION: From the publishers of Passenger Terminal World, the only magazine dedicated to railway terminal and station design and technologies.

Read the free digital edition >>

TV >>

iGA releases video showcasing Istanbul New Airport

Watch Now >>

Annual Showcase 2018 >>

Read latest issueNEW DIGITAL EDITION:

Passenger Terminal World Showcase 2018 is now online.

Read now.

More Information >>