Atlanta Strikes Deal With Airlines
(AJC) — Airlines at Atlanta’s airport have agreed to make $30 million in extra rental payments to help the city get bond financing needed to keep the new international terminal project on track.
Atlanta Mayor Kasim Reed, flanked by the chief executives of Delta Air Lines and AirTran Airways, announced the deal Tuesday. The supplemental rent payments will occur over four years starting in fiscal 2013, and the city could refund at least some of the money later in the decade depending on financial conditions.
The move is designed to boost Hartsfield-JacksonInternational’s revenue stream, making bonds more attractive by assuring investors that it has adequate revenue and reserves to repay the debt, city officials said.