BOND ISSUE FOR $100M EXPANSION OF O’HARE INTERNATIONAL

Dino D'Amore
By Dino D'Amore January 10, 2011 09:55

BOND ISSUE FOR $100M EXPANSION OF O’HARE INTERNATIONAL

Chicago looks set to circumvent airline opposition to a planned $100m bond issue for expansion of O’Hare International Airport. Contracts in force with United Airlines and American Airlines allows the carriers to block projects that increase airport costs. To get around this the city plan would structure repayment on the bonds to begin after the mid 2018 expiration of those contracts.

The bonds would be backed by airport revenue including landing fees and rents paid by airlines.

Dino D'Amore
By Dino D'Amore January 10, 2011 09:55
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