Airport

FAA Awards Nearly $1 Billion To 99 Airports

The Federal Aviation Administration (FAA) is granting over $1 billion from President Biden’s Bipartisan Infrastructure Bill to 99 airports of all shapes and sizes around the nation, with air traffic projected to reach or surpass pre-pandemic levels this year.

The funding helps meet the growing demand for air travel and invests in key areas to help get travelers in and out of airports more quickly and improve the passenger experience by investing in new baggage systems, larger security checkpoints and improved ground transportation. Other projects increase terminal sustainability and improve accessibility for individuals with disabilities. Several grants will address the needs of aging air traffic control towers. The investments will go to airports in 47 states and two territories.

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Many grants contain an element that will build new or expanded terminal facilities. Among them are:

$10.8 million to Des Moines International Airport in Des Moines, Iowa:
$29 million to Salt Lake City International Airport (SLC) in Salt Lake City, Utah:

Many grants contain an element that will make passenger check-in more efficient by improving security-screening areas. Among them are:

$10 million to Sarasota Bradenton International Airport in Sarasota, Fla
$6.5 million to Savannah/Hilton Head International Airport in Savannah, Ga
$50 million to O’Hare International Airport in Chicago, Ill.
$5 million to Columbia Metropolitan Airport in Columbia, S.C
$16 million to Seattle-Tacoma International Airport in Seattle, Wash

Many grants contain an element that will improve passenger experience, including more reliable and faster baggage systems. Among them are:

$4.4 million to Ted Stevens Anchorage International Airport in Anchorage, Alaska:
$4.3 million to Lawton-Fort Sill Regional Airport in Lawton, Okla.
$38 million to Baltimore/Washington International Thurgood Marshall Airport in Baltimore, Md
$5 million to Bradley International Airport in Winsor Locks, Conn.

Today’s funding is from the Airport Terminal Program, one of three aviation programs created by the Bipartisan Infrastructure Law. The law provides $1 billion annually for five years for Airport Terminal Program grants. In total, the Bipartisan Infrastructure Law provided a historic $25 billion to modernize country’s airport infrastructure. Learn more at www.faa.gov/bil.

Airport

Three Major UK Airports Up for Multi-Billion Pound Sale

Three major UK airports, including London City, Birmingham, and Bristol, are set to be sold in a multi-billion pound deal as their Canadian owner, the Ontario Teachers’ Pension Plan (OTPP), seeks to capitalize on a booming air travel market.

The OTPP is in talks with minority shareholders about selling its stakes in these airports, as well as its holdings in Brussels and Copenhagen airports.

Current evaluations suggest the combined value of the five airports exceeds £10 billion, with OTPP owning between 25% and 70% stakes in each, potentially bringing the total sale to over £3.5 billion.

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The move comes as global aviation experiences a strong recovery, driving increased demand for air travel, particularly across Europe. The OTPP, which holds a significant portion of its portfolio in these airports, is in the process of offering its shares to co-investors with a 30-day “right of first refusal” period.

Analysts speculate that the sale could trigger a chain reaction, prompting other stakeholders to consider selling their shares, particularly if a new buyer seeks a controlling interest.

Bristol Airport, for example, has outlined an ambitious master plan to expand its capacity from 12 million passengers per year to 15 million by 2036, addressing the growing demand in the region.

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Meanwhile, London’s Heathrow and Stansted airports have seen record passenger traffic, further underscoring the sector’s recovery.

As the 30-day period progresses, the OTPP’s decision could spark a flurry of activity, with other investors such as Australian giant Macquarie reportedly showing interest in the airports.

This potential sale is set to reshape the future of UK airport ownership and investment, as the aviation industry continues to recover and grow.