NATA Rolls Out Advice for Airport Leases
The National Air Transportation Association (NATA) and the General Aviation Infrastructure and Investment Coalition (GAIIC) in cooperation with the Airports Council International-North America have released a new set of best-practice standards for leases governing airport service providers. The new standards are aimed at facilitating long-term private investment in on-airport properties. The document lists a set of points that the parties say will serve the needs of both the airport and the service providers. Among those points are the creation of amortization schedules, which will allow better access to financing for service providers and improve their chances of seeing a return on capital expenditures, and the provisions of buy-out clauses for the incumbent service provider’s unamortized capital investments if lease terms are shorter than mutually agreed-to amortization schedules. GAIIC was founded last year by several FBO companies in an effort to ease on-airport investment and foster job creation.