Deal Pipeline

The deal pipeline tracks 119 deals worldwide, spanning more than 57 countries and 237 airports.

airport deal

United States – St. Louis (Lambert)

Operator // City of St. Louis

Overview

Overview

In early 2017, under the direction and authority of the previous mayor Francis Slay, the City of St. Louis applied to the Federal Aviation Administration (FAA) to consider STL as a candidate for the FAA’s Airport Investment Partnership Program (AIPP), [formerly the Airport Privatization Pilot Program]. The AIPP sets out the conditions by which municipal governments that own and manage U.S. commercial airports and receive federal funding can structure P3s with qualified investor-operators to manage and develop such airports, through long-term concession (but not sale) to achieve operational, financial, service quality and other related objectives. The review and approval process includes; the FAA and airlines operating at STL, as well as the local estimate board and aldermen. Airlines representing over 80% of STL’s passenger traffic and 85% of its cargo volume have voiced support for the proposed privatization. The deal, estimated at over USD2.5b before repayment of STL’s USD600m debt, has faced strong pushback from local opposition groups and officials including City’s Comptroller, with calls for a public referendum. Reversing her previous position, St. Louis Mayor Lyda Krewson indicated in late Sep. 2019 that she would not oppose a public vote on the project. The working group for the project is comprised of four voting members: Mayor Krewson, Aldermanic President Lewis Reed, Comptroller Darlene Green and Budget Director Paul Payne. In early Nov. 2019, the St. Charles and St. Louis counties waded into the fray, requesting study of options/implications of regional control and merits of privatization. For the City’s 550 employees working at STL, three options have been presented; a five-year job guarantee with the private operator, application/preference with another city department or retain their current role during a two-year transition period. CoSL is seeking defeasance of STL’s USD600m debt.

15,632,600

Passengers

Airport Details
194,300

Movements

Airport Details
74,300

Cargo (tonnes)

Airport Details

Included Airports

Airports

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United States

1 airport

Transaction Stage

Stage

Deal has been archived

Deal transaction stage will no longer be updated when a deal has been marked as archived.

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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