LAXintl From United States of America, joined May 2000, 27308 posts, RR: 50 Posted (6 years 6 months 4 weeks 18 hours ago) and read 2823 times:
Could be interesting depending what is at play. Certainly would provide a nice financial gift to the City, and possibly get them out of the day to day management of the airport which seemingly they have never really been interested in.
Quote: City Manager Pat West has called for a closed session of the City Council next week that one councilwoman fears could lead to the sale of Long Beach Airport.
West said Friday that the city had been contacted by a slew of financial companies interested in an airport deal, including notable potential investors such as Citigroup, Goldman Sachs, JP Morgan, Merrill Lynch and Morgan Stanley, according to the meeting agenda.
When asked whether the airport's sale is on the table, West said only that the meeting is about "leasing opportunities," but wouldn't explicitly say that it isn't about selling the airport. City officials aren't allowed to discuss the details of closed session items. "We have an opportunity to investigate some lease opportunities at the airport," West said. "We want to gauge the City Council's interest before we spend any time looking at these opportunities."
If investors were interested in buying the airport, it could be done through the Federal Aviation Administration's Airport Privatization Pilot Program. Several cities have shown an interest in that program, submitting applications in recent years.
StasisLAX From United States of America, joined Jul 2007, 3302 posts, RR: 7
Reply 2, posted (6 years 6 months 4 weeks 17 hours ago) and read 2764 times:
I believe that this is a very short-sighted decision to cure what should be a temporary budgetary problem. The LGB airport is a huge municipal asset that has unfortunately been crippled by the damn NIMBY's in the airport area. If anything can be done to eliminate the ridiculous 49-flight cap, thus generating more airport revenues, then that is exactly what the City Council should be doing.
In the long term, once the global economy has recovered, this move will be looked back upon as a hastily considered measure and a poor decision for my perspective. The Long Beach City Council should be reminded that they've also been dumping a ton of money into remodeling and modernizing LGB!
"Those who would give up essential liberty to purchase temporary safety deserve neither liberty nor safety!" B.Franklin