World Annual Conference

Recent Developments in Public Private Partnerships in the U.S. and Canada Economics & Finance Workshop 2016 ACI-NA/World Annual Conference Montreal, C...
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Recent Developments in Public Private Partnerships in the U.S. and Canada Economics & Finance Workshop 2016 ACI-NA/World Annual Conference Montreal, Canada September 25, 2016

Panelists and Discussion Topics

1. Introductions, Max Underwood (DFW) 2. Overview of US P3 Activity, Sheri Ernico (LeighFisher) 3. LaGuardia Central Terminal – Three Perspectives - David Kagen, Assistant Director of Aviation, Port Authority of

New York and New Jersey - Charlotte Teklitz, Managing Director, Airport Affairs, American Airlines - George Casey, Chair and CEO, Vantage Airport Group Ltd. 4. Availability Payments in the Transport Sector, Pamela BaileyCampbell, President, LeighFisher 5. Canadian Airport P3 Update and Credit Considerations, Catherine Deluz, Senior Vice President, Global Infrastructure Finance, Moody’s Canada Inc.

U.S. Airport Privatization Can Take Many Forms Privatization is not an all-or-nothing solution, in fact, most U.S. airports have a high degree of private-sector involvement

LEAST PRIVATIZATION Partial Privatization

Contracting Services Management Contract Design-Build-Finance-Operate-Maintain

Full Privatization

Long-Term Lease/Concession Agreement (including Airport Privatization Pilot Program) Private Airport Development MOST PRIVATIZATION

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Recent Developments in Public Private Partnerships ACI-NA/World Annual Conference, September 25, 2016

Recently Completed P3 Transactions in the U.S. Airport Arena 2013: Luis Muñoz Marin International Airport,San Juan, Puerto Rico ― FAA Airport Privatization Pilot Program – “full privatization”

― Aerostar doing well despite the Puerto Rico economy (and paying $615M for the concession

and $200M in capex investments)

― Upgraded Terminals B and C ― Upgraded all terminal concessions ― Attracted new service

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Recent Developments in Public Private Partnerships ACI-NA/World Annual Conference, September 25, 2016

Recent P3 Activities in the U.S. Airport Arena (continued) 2015: Austin Ultra-Low Cost Carrier “South Terminal”

― Initially developed by GE Commercial Aviation

Services (GECAS) in 2008 (pre-Financial Crisis)

― In 2015, the City entered into deal with Oaktree to

invest $12 million

― To open spring 2017

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Recent Developments in Public Private Partnerships ACI-NA/World Annual Conference, September 25, 2016

Pending P3 Activities in the U.S. Airport Arena 1. Denver “Great Hall” - Jeppesen Terminal (team led by Ferrovial Airports )

― Consolidate airline ticket counters and modify

associated baggage handling system

― Consolidate/relocate TSA screening ― Redesign overall passenger experience

2. Los Angeles (LAX) Landside Access Modernization Program (LAMP)

― 5 teams submitted SOQs to deliver the automated

people mover, the 1st element of $5.5 billion LAMP

― The AMP will connect 3 on-airport stations to local rail

and transit services, a consolidated rent-a-car center (CONRAC), two Intermodal Transportation Facilities, and roadway improvements

― Developer to be paid with availability payments

3. LaGuardia Central Terminal (featured case study)

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Recent Developments in Public Private Partnerships ACI-NA/World Annual Conference, September 25, 2016

Panelist Contact Information Recent Developments in Public Private Partnerships in the U.S. and Canada Economics & Finance Workshop 2016 ACI-NA/World Annual Conference

Max Underwood Vice President Finance Department Dallas Fort Worth International Airport P.O. Box 619428 DFW Airport, TX 75261-9248 T (972) 973 5460 C (972) 948 2847 Mr. George Casey President and CEO Vantage Airport Group Ltd. 1410-1200 West 73rd Avenue Vancouver, BC V6P 6G5 Phone: (604) 269-3804 [email protected]

Sheri Ernico Director LeighFisher 555 Airport Boulevard, #300 Burlingame, CA 94010 Phone: (650) 759-8430 [email protected]

Mr. David Kagan Asst. Director, Business Properties Port Authority of New York and New Jersey 150 Greenwich Street New York, NY 10007 Phone: (212) 435-3719 [email protected]

Ms. Pamela Bailey-Campbell P.O. Box 143218 Irving, Texas 75014 Phone : (303) 968-7897 [email protected]

Ms. Catherine Deluz Senior Vice President Moody's 70 York Street Suite 1400 Toronto, ON M5J 1S9 Phone: 416-214-3836 [email protected] Ms. Charlotte Teklitz Managing Director, Airport Affairs American Airlines 4333 Amon Carter Blvd. Fort Worth, TX 76155-2605 Phone: (817) 931-4760 [email protected]