Date: Jan 23, 2003
Press Release Number: 6-2003
As Governor Pataki indicated today, the Port Authority is willing to provide more than $500 million in additional lease payments to New York City this year, in exchange for a long-term extension of the Port Authority’s lease with the City to operate John F. Kennedy International Airport and LaGuardia Airport.
The Port Authority and the City have been engaged in discussions for several months over the extension of the lease, as well as other issues concerning the future stewardship of Kennedy and LaGuardia airports. We have maintained throughout these discussions that the Port Authority would be prepared to make higher lease payments, including a large initial payment, to the City in return for a long-term lease extension.
Our discussions with the city are continuing. We look forward to reaching an agreement that will be equitable to both the City and the Port Authority, and which will ensure the long-term success of the City’s airports.