Aerostar Airport Holdings (AAH) has won a public bid to become the private operator and leaseholder of Luis Munoz Marin International Airport (SJU) in San Juan, Puerto Rico, for 40 years as a public-private partnership (P3), for an upfront $615 million leasehold fee. The announcement marks the first airport privatization in the US since a $2.5 billion deal to privatize Chicago Midway (MDW) failed in early 2009 (ATW Daily News, Jan. 5, 2011). “The Puerto Rico government has ...

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