St. Louis Gets Federal Approval to Privatize Airport

The Department of Transportation (DOT) has accepted St. Louis’s preliminary application to privatize its airport operations, the agency announced Monday.

St. Louis said in its application that airport privatization would help boost Lambert International Airport, which is a medium hub airport, as well as the region. The city hopes to maximize additional parking revenue and increase cargo revenue by using additional land assets.

The Federal Aviation Administration’s (FAA) airport privatization program enables airports to use private capital for infrastructure improvements by selecting a private operator, negotiating an agreement and submitting a final application to the FAA for approval.

Read more: http://thehill.com/policy/transportation/330318-st-louis-gets-fed-approval-to-privatize-airport