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Publish Date : 15-Nov-2016

The global wave of airport privatization deals in which private companies took control of many of the world's largest airports, has yet to gain traction in the continental United States.

Westchester County Airport is currently standing as the sole passenger facility seeking federal approval to turn over its airport revenue to a private firm.

A Tax Watch review of these deals across the world found a big difference: Westchester did not invite bids to test the open market before selecting Oaktree Capital Management to operate the airport called HPN.

Robert Poole, director of transportation policy at the Reason Foundation, Washington, D.C, has been following global airport deals since Margaret Thatcher privatized Heathrow in the late 1980s.

He said, "Most governments seek bids to make sure they get the most lucrative deal. They want to make sure they get a team with a good track record and are offering a good amount of proceeds to a government thats giving up control in exchange for the cash value."

Westchester County Executive Rob Astorino chose not to test the open market. He started talks with Oaktree in late 2015, with negotiations intensifying over the last three months.

Federal rules have no bidding requirement. Astorino said he felt comfortable with Oaktree as there aren't many firms that have experience with the Federal Aviation Administration and airport management.

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