The St. Louis City Board of Estimate and Apportionment today approved a consulting agreement with Moelis & Company, McKenna & Associates, Grow Missouri, Inc., and a broad range of other advisors naming them the City’s advisor team as City leaders consider privatizing the management and operation of St. Louis Lambert International Airport.
The purpose of exploring the opportunity for a third-party to manage and operate the airport is to determine if airline and other related services can be improved for our residents, businesses and visitors, and how the City can make the airport a stronger asset to improve our economic development future. The City is not selling the airport in connection with this process.
No taxpayer money will be paid to the advisor team during the evaluation process. Grow Missouri, Inc. will pay the cost of all professional services and expenses incurred by the advisor team during a public bidding process, which will include both a request for qualifications (RFQ) and request for proposals (RFP). Grow Missouri, Inc. will be reimbursed for such costs only if the City reaches a final agreement with a private operator.
This advisor team includes local and national experts with experience in all aspects of public-private partnerships with a special focus and expertise in airport management, finance, economics, and structure. The advisor team will work solely for the City. The agreement provides that no member of the advisor team may participate as a consultant or in any role with any group that might submit a proposal to operate and manage the airport.
“The only reason to consider this is to get a better airport,” Mayor Lyda Krewson said. “We owe it to ourselves to consider what could be a very positive turning point for the future of our airport. We worked to make sure the team we put together has the expertise to protect the public’s interest as we explore this opportunity.”
Any final agreement with a private operator to manage and operate the airport would require approval from the Board of Estimate and Apportionment, the Board of Aldermen, the Federal Aviation Administration and a majority of the airlines that operate at St. Louis Lambert International Airport. Further, federal law requires that collective bargaining agreements be honored.
Visit www.fly314.com for more information and periodic updates.
Congress established the FAA's Airport Privatization Pilot Program in 1997 to explore using private capital for airport improvement and development. As part of the program, private companies may lease, manage, own and develop public airports.
Office of the Mayor
Board of Estimate and Apportionment