Attracting Investment at General Aviation Airports Through Public–Private Partnerships (2019) / Chapter Skim
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Pages 25-31
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25 The purpose of this chapter is to provide a brief summary of industry practices associated with private investment in general aviation airports. On the basis of a review of the literature, a few findings have emerged.
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26 Attracting Investment at General Aviation Airports Through Public–Private Partnerships Several states and associations responded by further distributing the screening survey link to airports in their states and their member airports, respectively. This distribution provided a broader reach than the initial e-mail distribution.
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Industry Practices for Attracting Investment at General Aviation Airports 27 Regarding the level of experience of general aviation airport managers with PPPs, results from the screening survey show at least some experience with administering these projects. For example, researchers asked the following question to study participants: "Within the past 5 years, has your airport or airport sponsor entered into a PPP agreement with a private- or public-sector entity?
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28 Attracting Investment at General Aviation Airports Through Public–Private Partnerships Finally, regarding the drivers for why airport officials decided to pursue a public-private partner ship, responses varied significantly. The final question of the screening survey asked the following: "What was important in terms of driving your decision for pursuing a PPP or arrangement at your airport?
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Industry Practices for Attracting Investment at General Aviation Airports 29 Response Number Access private capital for development 9 Secure long-term efficiencies in operation and maintenance and enhance customer service 9 Stimulate airport activity, including air service (e.g., charter and/or scheduled, if applicable) 7 Increase airport revenue/funding 7 Introduce more innovation and creativity 5 Shift the risk of debt, capital development, and/or operations to private sector 5 Accelerate project delivery and reduce construction costs 3 Extract up-front or ongoing payment for the airport asset (i.e., asset monetization)
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30 Attracting Investment at General Aviation Airports Through Public–Private Partnerships competitors submitted all information at one time, and a bid was selected. The procurement method most utilized was the best value approach, followed by qualifications-based.
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Industry Practices for Attracting Investment at General Aviation Airports 31 various risks were noted in the responses, these risks were dependent on the structure of the particular partnerships entered into, which varied across a small number of respondents. Airports also indicated to what extent certain factors played in the success of the partnership.
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