MINNEAPOLIS (AFX) - The commission that runs the Twin Cities airport approved changes that will save Northwest Airlines Corp. $239 million over 15 years on Wednesday in exchange for promises to keep its headquarters and a hub here.
The $239 million would be spread over 15 years and includes a mix of rebates, rent reductions and revenue-sharing from car rentals and food and beverage sales at the airport. All airlines at the airport would share in the rebates, which are expected to total $279 million, said Metropolitan Airports Commission spokesman Patrick Hogan.
Hogan said the commission agreed to the plan because it feared that Northwest would use its bankruptcy reorganization to get out of 1990s loans the airport made to Northwest. He said commissioners also feared that Northwest would reduce service to the Twin Cities. Northwest also has U.S. hubs in Detroit and Memphis.
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