Puerto Rico Selects Highstar Capital, ASUR to Operate San Juan’s Airport

Puerto Rico Gov. Luis Fortuno said Aerostar Airport Holdings, LLC has been selected to operate and lease the Luis Munoz Marin International Airport (LMM) for 40 years as a public-private partnership.

Aerostar is a 50-50 joint venture between Highstar Capital, an infrastructure investment firm, and the leading Mexican airport management firm Grupo Aeroportario del Sureste, S.A.B. de C.V. (ASUR).

LMM handles more than 8.5 million passengers per year and is served by over 14 airlines. It generates more than 8,000 direct and indirect jobs and recently opened the newly-constructed Terminal A, which is currently served by JetBlue.

Aerostar's management team will implement its plan to improve the Caribbean's busiest airport to increase aviation services, upgrade essential infrastructure and strengthen Puerto Rico as a leading travel destination.  Additionally, this public-private partnership will support job creation and lead to improved efficiencies at the airport.

Aerostar plans to invest nearly $1.4 billion in capital improvements, including an upfront $615 million leasehold fee, with the goal of improving aviation services and passenger experience while creating crucial jobs for Puerto Rico.  

In partnership with the Puerto Rico Ports Authority, Aerostar will ensure all existing workers' jobs and benefits will be maintained.  The Puerto Rican government has indicated that it estimates it will receive over $2.6 billion in revenues and other benefits from the public-private partnership over the life of the lease.

http://www.travelpulse.com/puerto-rico-selects-highstar-capital-asur-to-operate-san-juans-airport.html