Vantage Airport Group Ltd could Attract more Deals for Overhauling U.S Airports
Vancouver based, Canadian developer, Vantage Airport Group Ltd., which has given a makeover to airports starting from Chile to New Zealand is also working towards overhauling the LaGuardia airport in New York. The $4 billion planned project could also invite new deals for the company in the United States.
With more and more airports in the U.S. ageing, there is requirement of seeking expertise from the private sector. The aging infrastructures need dollars to be spent for a more modernized look.
George Casey, chief executive officer of the company said, "We think LaGuardia is a good opportunity to move more private engagement into transactions in the U.S. We're now looking at opportunities in Boston, other New York airports, and Chicago."
The Airports Council International says that the airports in the United States need approximately $76 billion in investments by 2019 to make sure they remain competitive in the global scenario and satisfy the projected growth in number of passengers and amount of cargo.
Last year, the industry body said in a statement that traditional ways of funding airports via grants from government and passenger fees are not sufficient to satisfy the requirements.