SAN DIEGO, July 20, 2018, — Improving the experience of the traveling public, financing mechanisms to achieve successful airport projects, and the potential for increased airline teamwork are just a few of the topics to be addressed by four airline industry panelists at the upcoming Second Annual P3 Airport Summit in San Diego.
Moderated by Michelle Rieger, Chair of Winstead’s Construction Practice and Co-Chair of the P3 Industry Group, the “Behind the Curtain: What Airlines think when they hear ‘P3’,” panel will examine the challenges of various P3 projects with their vision to produce the ultimate customer experience.
The featured panelists are:
- Kevin Costello, JetBlue, Director, Infrastructure, Properties and Development
- Michael Minerva, American Airlines, Vice President, Government and Airport Affairs
- Gavin Molloy, United Airlines, Vice President, Corporate Real Estate
- Bob Montgomery, Southwest Airlines, Vice President, Airport Affairs
“The financial demands and diverse party interests involved in airport development causes many airlines to approach P3s with care,” offers Rieger. “We hope the panel discussion leads to additional conversation surrounding the various approaches used on these projects.”
“Across the nation public-private partnerships are at work and airport authorities and public agencies are using P3s to allocate risk and capital for infrastructure projects while driving innovation and efficiency,” notes Eric Iravani, Executive Director of P3C. The P3 Airport Summit is designed to address some of our industries most significant airport challenges and provides a forum for the various entities to exchange ideas, innovate and share best practices.”
The capital investment needed for an airport modernization project is immense and involves balancing diverse parties and goals. “We are seeing more collaboration and creative ways to provide new and improved facilities at more competitive costs,” says Mike Minerva, American Airlines Vice President of Government and Airport Affairs. “All parties benefit from getting airlines involved up front in these discussions. This panel might prompt some long needed dialogue in the industry.”
These tremendous costs mean more attention should be focused on ways to maximize effectiveness and performance in both construction and ongoing operations. “If these projects are not efficiently delivered, the customer eventually suffers. We don’t want that. We need to rethink airport deals, deliver construction efficiently, and maximize revenue, but really, we all want to make sure the projects improve the customer experience,” says Bob Montgomery, Southwest Airlines Vice President of Airport Affairs.
While airports are integral to the process, the airlines want to be more involved. “There is every reason to encourage airline participation as larger stakeholders in P3 projects,” says Gavin Molloy, United Airlines Vice President of Corporate Real Estate. “Their involvement can do much to improve the efficacy of these projects as a whole.”
“One innovative approach could be to include airlines as part of a project development team,” says Kevin Costello, Director of Infrastructure, Properties and Development with JetBlue. "When all parties work together, the benefits extend beyond project participant to the ultimate consumer.”
About P3 Airport Conference
The 2018 P3 Airport Summit will focus on alternative delivery education, financing solutions, procurement methodologies, and innovative ways partnerships are developing a variety of airport facilities around the country. Our agenda is designed for those exploring public-private partnerships (P3s), helping them understand where P3s can be applicable and how they can save money and time when dealing with upgrades, repairs and maintenance. Attendees will discover new ways of thinking about project delivery, how P3s and other delivery methods can bring airport facilities faster and more cost effectively to completion and learn how to manage risks associated with these new legal, financial, and delivery models. The event takes place in San Diego on July 23-24 at the Manchester Grand Hyatt. Information may be found at www.p3airportsummit.com.
Winstead's multidisciplinary project finance group has grown to encompass every aspect of the planning, financing and development of public-private partnerships (P3) at a level of sophistication not typically found in other Texas firms. Our infrastructure attorneys possess a thorough understanding of the unique construction, procurement, financing, and tax matters that arise in P3 transactions, particularly in the context of Texas law. Winstead works closely with its clients to weigh the risks and benefits of the transaction, maximizing both public and private resources to achieve the most efficient outcome and optimize community impact. We have represented all parties at the negotiating table, including governmental entities, developers, lenders, and investment banks. This background gives us the ability to understand the needs and motivations of all parties involved.
Winstead PC is a national business law firm with more than 325 attorneys. The firm provides a full range of business legal services to some of the most recognized and respected companies across the country and throughout the world. Winstead has offices in Austin, Dallas, Fort Worth, Houston, San Antonio and The Woodlands, Texas, and Charlotte, North Carolina.
Michael A. Webb