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Propeller Supports Findings Related to Briscoe Field in HJAIA Capacity Study

Dépèche transmise le 24 mai 2011 par Business Wire

Propeller Supports Findings Related to Briscoe Field in HJAIA Capacity Study

Propeller Supports Findings Related to Briscoe Field in HJAIA Capacity Study

ATLANTA--(BUSINESS WIRE)--Propeller Airports, Inc. was pleased by and agrees with many of the conclusions in a report issued by Hartsfield-Jackson Atlanta International Airport (HJAIA) last week. This report, prompted by the Federal Aviation Administration’s (FAA) view that Atlanta needs additional air carrier capacity, confirms our assessment of Briscoe Field and its potential to serve passengers and generate significant economic development. The May 2011 study evaluated potential sites for a second, non-hub airport, due to constraints at Hartsfield- Jackson, and concluded that Briscoe Field meets key criteria including:

  • Airfield
  • Approach
  • Runway
  • Airspace
  • Market size

The report also determined that no residential properties would be affected by noise due to adding passenger service. It also states that Briscoe Field is not suited for a 9,000ft runway, which is unnecessary for a smaller regional airport.

While Propeller agrees with the findings related to Briscoe Field, there is a difference of opinion on the overall cost benefit analysis and types of facilities that are justified for the metro Atlanta market. Based on regional demographics, a ten gate facility is more than adequate to handle the anticipated passenger traffic. Therefore, in Propeller’s view, to spend $2.25 billion of taxpayer funds to construct a facility envisioned by the study would be impractical considering the market size.

The analysis in the HJAIA study calls for facilities at Briscoe Field to be significantly larger and far more disruptive to the community than anything being considered by Propeller. The study uses a “one size fits all” template, which is not practical for developing an economically viable solution for the community. In addition, given the current economic environment, the alternative of a privately financed option, sanctioned by the FAA, that lessens the burden on the taxpayer, is something that must be considered.

Propeller looks forward to providing a unique proposal in response to Gwinnett County's Request for Proposals and applauds the Board of Commissioners for properly vetting this substantial opportunity for the entire County.

About Propeller Airports (www.whyprivatizebriscoe.com)

Propeller Airports, Inc. pursues opportunities to acquire airports in the US and abroad. Our investment strategy involves privatizing airports, improving landside and airside facilities, expanding/returning commercial passenger aviation to the airports, revitalizing hangars to attract additional general aviation assets and developing ancillary and surrounding property for commercial use. Propeller Airports is a wholly owned subsidiary of Propeller Investments LLC.

About Propeller Investments (www.propellerinvestments.com)

Propeller Investments LLC is a private equity firm focused on pursuing opportunities in the Aerospace & Transportation sectors. Using an experienced based methodology to identify and understand emerging investment opportunities is Propeller's core competency. Our team has extensive operating and investment knowledge as well as understanding in the global aerospace and transportation industry which allow us to provide unique insight that enhances the investment decision-making process.

The Propeller team takes a proactive approach to finding driven entrepreneurs and compelling businesses that have the potential to create substantial value. We take a value-added approach to investing in infrastructure, innovative operating companies that have definitive and industry leading concepts as well as service and concession ventures in our core market sector.

Propeller's executive offices are located in New York with offices in Dublin and Atlanta.

Business Wire

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