Macquarie Infrastructure has been selected to operate Westchester Airport in the US as part of a $1.1bn public-private partnership.
Westchester County Executive Robert Astorino said that Macquarie was selected following evaluation by a bi-partisan task force made up of members of the Astorino administration and the Board of Legislators based on three proposals received in April.
The proposals were meant to manage, operate, maintain and improve the airport in accordance with an FAA programme.
Astorino said: “The goal from the start has been a better, not bigger airport.
“This proposal does just that: private investment capital – not taxpayer dollars – will improve the passenger experience, implement new environmental safeguards, and preserve the character of the neighborhood, all while creating a long-term revenue stream to help pay for county programmes.”
HPN Aviation Group ranked second, and FerroStar Westchester Airport Partners was placed third.
The winning proposal by Macquarie will net the county $1.145bn over the course of a 40-year lease.
The lease is ‘as-is / no expansion, which means the existing terminal footprint of the airport will not expand; there can be no runway expansions; the number of gates remains at six; and the cap of 240 passengers per half hour will remain in place.
Under the lease, Westchester county will receive more than $300m up front, which includes lease payments, money transferred to the general fund from county money locked at the airport and various reimbursements.
Transportation and financial consulting firm Frasca & Associates carried out the selection process.