About AvPorts – Creating maximum value for airport owners, users, and communities through the unrivaled integration of airport management capabilities, experience, and expertise.
AFCO Master Development Agreement Approved
January 27, 2013 – Aviation Facilities Company, Inc. (AFCO) is pleased to announce that the Gary/Chicago International Airport Authority today unanimously approved development and management agreements to dramatically improve the economic landscape of the airport, the City of Gary and Northwest Indiana.
AFCO will Lead the Development
Under the terms of the agreements, AFCO will lead the development effort while its affiliate, AFCO/AvPORTS Management LLC (AvPorts) will lead the airport management effort. The transactions represent the culmination of a year-long public procurement selection and negotiation process that has been timed to coincide with the final stages of completion for extension of the main runway to 8,900 feet.
The development agreement is expected to result in over $100 million in new development in and around the airport over the next 40 years with $25 million to be deployed by 2017. The transaction is structured as a Public Private Partnership (“P3”) with elements that include revenue sharing to the City of...
AFCO Announces Acquisition
AFCO completed the acquisition of the trade name and assets of AvPORTS, which includes seven U.S. airport management contracts, from Macquarie Aviation North America, effective January 1, 2009.
The assets being acquired by AFCO include management contracts to manage the airports on behalf of local governments at Albany International Airport (ALB) in Albany, New York; Atlantic City International Airport (ACY) in Atlantic City, New Jersey; Republic Airport (FRG) in Farmingdale, New York; Stewart International Airport (SWF) in the City of Newburgh and the Town of New Windsor, New York; Teterboro Airport (TEB) in Teterboro, New Jersey; Tweed-New Haven Regional Airport (HVN) in New Haven, Connecticut; and Westchester County Airport (HPN) in White Plains, New York.
AvPORTS originated more than 80 years ago as Pan Am World Services, a division of Pam American Airlines and in subsequent buyouts has operated under the name of Johnson Controls World Services and American Port Services. AvPORTS is currently one of the largest private airport...