The highly anticipated facelift announced earlier this year for the Luis Muñoz Marín International airport has taken off at Terminals B and C, at a cost of $240 million, facilities operator Aerostar Airport Holdings confirmed Sunday.
Mexican aviation executive Agustín Arellano wants to transform Puerto Rico’s flagship airport from an obsolete relic of the mid-20th century into a modern world-class gateway — much like he’s done for Cancún and eight other airports throughout southeastern Mexico.
Starting next month, passengers arriving to Puerto Rico’s Luis Muñoz Marín International Airport will have easier access to car rental companies, which will move their operations to the first level of the multi-level parking facility, Agustín Arellano, CEO of Aerostar Airport Holdings, airport administrator, said Tuesday.
In the first 100 days since the Puerto Rican government turned over the management of the, the Luis Muñoz Marín International Airport, to Aerostar Airport Holdings, the new operator said Tuesday it has already checked off a number of improvements from its list.
New York — Puerto Rico’s top airport official was on hand for last Friday’s widely attended inauguration of Delta Air Lines’ new terminal at John F. Kennedy International Airport, looking for ideas to improve San Juan’s Luis Muñoz Marín hub.
Despite not having yet completed the transition through which it will officially take over control of the Luis Muñoz Marín International Airport in Carolina, Aerostar Holdings is already planning major changes for services available to passengers, mostly related to concessions and transportation.
Grupo Aeroportuario del Sureste (ASUR), one half of the Aerostar Airport Holdings, LLC consortium that won the bid to take over the management and operation of the Luis Muñoz Marín Airport in Puerto Rico, said Wednesday it has obtained the necessary 139 certificate from the Federal Aviation Administration, and is ready to start modernizing the airport.
Saying the Puerto Rico Ports Authority has the authority to lease the Luis Muñoz Marín Airport in San Juan to Aerostar Airport Holdings, the U.S. Department of Transportation’s Federal Aviation Administration confirmed its approval of the public-private partnership that will officially transfer control of the facility to the consortium.
The Puerto Rico House of Representatives wrapped up nearly a month of probing the terms of the public-private partnership agreement proposed for the Luis Muñoz Marín Airport Monday with a scathing report that shoots down any benefit to the deal through which the government would turn over the management of the facility to a private operator.
Moody's Investors Service announced Wednesday it has assigned provisional ‘Baa3’ ratings to Aerostar Airport Holdings, LLC's $350 million of senior secured bonds. The outlook is stable. Bond proceeds will be used to partially fund the acquisition of a long-term lease to operate the Luis Muñoz Marin Airport.
In about a week, the Federal Aviation Administration is expected to make its decision on the public-private partnership agreement through which the government of Puerto Rico would turn over the management of the Luis Muñoz Marín International Airport to Aerostar Airport Holdings for the next 40 years.
If the Puerto Rico government were to walk away from the public-private partnership that turns over the responsibility of managing and operating the Luis Muñoz Marín International Airport to Aerostar Holdings, it would have to compensate the consortium with as much as $8 million for its troubles, according to the 40-year lease agreement signed earlier this year.
The Federal Aviation Administration will hold on Sept. 28 what will likely be the only public hearing on the proposed public-private partnership through which the government of Puerto Rico would turn the management of the Luis Muñoz Marín International Airport over to Aerostar Holdings, News is my Business learned.
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