Manufacturing Industry
MAC executive director unveils plan to protect public's interests
Airline Industry Information, Dec 19, 2006
AIRLINE INDUSTRY INFORMATION-(C)1997-2006 M2 COMMUNICATIONS LTD
Jeff Hamiel, the executive directors of the Metropolitan Airports Commission (MAC) has unveiled a plan to protect the travelling public's interests in Northwest Airlines bankruptcy proceedings and encourage air service growth at Minneapolis-St Paul International Airport (MSP).
The plan reportedly centres on reducing airline rates and charges through new capital cost recovery methods and sharing of certain concession revenues, while still earning cash the MAC can use to pay for major maintenance and minor capital projects.
In addition to giving MSP a competitive edge for air service, the plan minimises potential financial and operational risks associated with Northwest's bankruptcy. Those risks include the possible rejection of airport leases and default on Northwest's obligations to pay USD290m in general obligation debt to the MAC.
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