3.3.19 - Private Money Takes On Bigger Role in Airport Projects
'As governments reduce spending on infrastructure, private companies are moving into airports big and small, paying for private terminals with new types of services and teaming up with local agencies to renovate existing terminals. The so-called public-private partnerships, or P3s, have created new possibilities for airports, which have struggled for years to find the money to improve terminals and accommodate an increase in passengers and cargo.'
'The Private Suite, which opened at Los Angeles International Airport in 2017 and is owned and operated by Gavin de Becker and Associates, a private security company, offers a less-egalitarian, membership-based approach.'
'Private Suite expects to generate more than $35 million dollars for Los Angeles World Airports, which operates Los Angeles International, during its 10-year lease. “Our service improves security and congestion for all of LAX’s passengers, and it’s fully funded by those who create the most congestion issues, high-risk travelers,” said Amina Belouizdad, Private Suite’s chief commercial officer.'