This article is 3 years old. It was published on June 13, 2018.
(St. Louis – June 13, 2018)
Today, at the Board of Estimate and Apportionment I voted against approving an advisory consulting agreement for the privatization of St. Louis Lambert International Airport. The Comptroller’s Office does not support this effort to trade Lambert’s successful fiscal management and positive growth for the risks of privatization.
Lambert Airport has been a public entity since 1928 when St. Louis voters approved a $2 million bond issue to buy the airport property. Over 90 years Lambert has served the people of our region through good and bad economic times. Currently, the airport is in a strong financial position showing 31 straight months of passenger growth, two credit rating upgrades and added international flights.
Privatization would disrupt this growth. Our airport is an asset for the city, and a private entity beholden to shareowners, not consumers, would put bottom-line profit over public service.
To abandon the long and successful history of Lambert as a municipal airport through this politically expedient process is wrong. As today’s E&A vote to advance the privatization process passed 2-to-1 and the Airport Commission was left out of this decision, a public vote must be part of the process to decide the fate of the airport.
Comptroller Darlene Green is the chief fiscal officer of the City of St. Louis and is charged with safeguarding the city’s credit rating and with protecting taxpayer dollars. Visit www.stlouis-mo.gov/comptroller to learn more about the Office of the Comptroller.
Public Information Officer to the Comptroller
Office Phone: (314) 613-7360
Office of the Comptroller
Most Read News
- Mayor Tishaura O. Jones Appoints New Chief Technology Officer, Civil Rights Enforcement Agency Head Jones announced the appointment of Simon Huang as St. Louis’ Chief Technology Officer and Monica "Mo" Del Villar as head of the Civil Rights Enforcement Agency.
- Joint Statement from Mayor Tishaura O. Jones and St. Louis County Executive Sam Page on the Rams and NFL Settlement $790 million settlement agreement signed
- St. Louis City and County to Require Masks to Limit Spread of COVID-19 Delta Variant As COVID-19 hospitalizations rise and the Delta variant spreads, the City of St. Louis and St. Louis County will require masks to be worn in indoor public places and on public transportation beginning Monday.