NEW YORK, NY, United States (UPI) -- The New York area`s airport operator has set aside $150 million to develop a fourth passenger airport to serve the New York metropolitan region.
The money in the Port Authority of New York and New Jersey`s 10-year capital plan follows the operator`s singling out Stewart International Airport, 55 miles north of New York City, as the fourth airport`s most likely site.
'We are aggressively studying Stewart and trying to determine what the appropriate role for this agency would be in it,' agency spokesman Marc La Vorgna told the (Middletown, N.Y.) Times Herald-Record. 'We hope to move forward as quickly as possible.'
Airport operator National Express Group has put its 99-year lease on Stewart up for sale and says it plans to reach a deal by March. The operator is talking with several possible buyers, including the Port Authority, the newspaper says.
1 comment:
Another nail in ORHs coffin...
http://money.cnn.com/2006/12/27/news/companies/virgin.reut/index.htm?postversion=2006122717
Virgin America grounded
Government agency say low-cost airline doesn't meet U.S. citizen ownership requirement; rejects application to fly.
December 27 2006: 5:50 PM EST
WASHINGTON (Reuters) -- U.S. transport regulators said Wednesday they had tentatively rejected Virgin America Inc.'s application to fly, saying its ownership structure did not meet a U.S. citizenship test.
The U.S. Department of Transportation said the low-cost airline, with a name made famous by British entrepreneur Richard Branson, did not meet the requirement that 75 percent of its voting interest be owned or controlled by U.S. citizens.
Virgin America said it would respond to the department on Jan. 10 and demonstrate that it will meet the ownership and control requirements.
"We remain committed to getting our wings," said Virgin America in a statement. The airline had said last week it was expecting the rejection.
Virgin America has faced opposition from U.S. carriers such as Continental Airlines (Charts), who argue that Branson's Virgin Group effectively controls the airline in violation of U.S. law.
In rejecting the application for an operating certificate, the department cited Virgin Group's and its executives' pervasive involvement in the creation of Virgin America.
It also cited the funding Virgin Group provided to the carrier, various interlocking financial agreements, and Virgin Group's ability to influence decisions of the carrier's board.
The department added that the restrictive name-brand licensing agreement between Virgin Group and the airline impedes the carrier's independent, decision-making authority.
"... properly structured licensing or franchise agreements between U.S. and international carriers are now, and will continue to be, permissible," the department said in a statement.
Boeing tops Airbus for first time in 6 years
British-based Virgin Group has stakes in airlines in Europe, Australia and Nigeria.
The company has 33 Airbus planes on order and was planning to start operation with just two to four aircraft, beginning with a San Francisco-New York route.
Low cost airlines such as Southwest (Charts) and more recently JetBlue (Charts) have redefined the industry as older, legacy carriers such as United Airlines (Charts), American (Charts) and USAirways (Charts) struggle to remain competitive.
Sell ORH!!!!!
Harry Tembenis
Worcester,Ma
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