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After years of anticipation and disappointments, airport privatization in 欧博娱乐 U.S. (commonly referred to as “public-private partnerships” or “P3s”) seems finally ready to take off. A number of P3 transactions are currently in 欧博娱乐 works with 欧博娱乐 promise of more to come. This has investors, operators, and U.S. public sector airport owners sitting up and taking notice.

The history of airport P3 transactions in 欧博娱乐 U.S. has been disappointing. Over 欧博娱乐 past 20 years of 欧博娱乐 Federal Aviation Administration’s (FAA’s) Airport Privatization Pilot Program (APPP), only two airports have successfully navigated 欧博娱乐 process: Luis Munez International Airport (LMM) in Puerto Rico and Stewart Airport in Newburgh, New York. (Stewart reverted back to a publically owned airport in 2003 when it was purchased by 欧博娱乐 Port Authority of New York/New Jersey.) Several failed attempts at Chicago Midway Airport (MDW) and elsewhere in 欧博娱乐 U.S. have led to 欧博娱乐 widespread belief that it cannot happen here.

ICF believes that within 欧博娱乐 next five years, partial privatizations - in 欧博娱乐 form of P3s -will become commonplace in 欧博娱乐 U.S. as an important option for U.S. airports to upgrade infrastructure and deliver a better passenger experience. Terminal privatization, gate privatization, operating contracts with investment requirements and commercial concession operation will become 欧博娱乐 norm.

Recent U.S. airport privatization activity, along with construction and development needs, opens 欧博娱乐 door for new ways of delivering airport projects in 欧博娱乐 U.S. Watch ICF Vice President Eliot Lees providing his take on this hot topic at GAD World Paris.