airport deal

United States – Punta Gorda

Operator // Charlotte County Airport Authority (CCAA)

Overview

Overview

The proposed privatization of PGD has been on the table for several years, however the initiative gained momentum in the latter half of 2020. Vasey Aviation Group (VAG) was engaged by CCAA to assist commissioners in considering privatization of PGD through the Federal Aviation Administration (FAA) Airport Investment Partnership Program (AIPP). Under the proposed deal structure, CCAA would potentially earn hundreds of millions of dollars in upfront payments and long-term lease revenues. Currently, Allegiant is the only commercial airline operating there at PGD and under the proposed terms of the deal, it would have power of veto over any transaction and is itself investing in a real estate project near PGD which could potentially be incorporated into the deal. Other pre-conditions include a Capital Renewal Program with a commitment of at least USD500m over the term of the lease and retention of all PGD existing full-time employees.

1,644,900
81,100
N/A

Cargo (tonnes)

Included Airports

Airports

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United States

1 airport

Transaction Stage

Stage

Deal has been archived

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Stage 1 — Pending

Deal Structuring & Market Sounding

Initial process by government/grantor or private owner of shares to structure the transaction and/or sounding potential market interest in the opportunity.

Stage 2 — Pending

Due Diligence & Bid/Offer Development

Investor/operator evaluation for the deal/opportunity and/or business case and financial model development to support commercial bid/offer.

Stage 3 — Pending

Award, Financial Close & Transfer

Award of deal by government/grantor, or acceptance of offer from private owner of shares, followed by completion of financing conditions and, ultimately, granting of concession and/or transfer of shares.

Deal Information

Information

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