IE Business Daily Business news for the Inland Empire.
The Los Angeles City Council has approved a $250 million settlement agreement that will eventually return Ontario International Airport to local control.
The council took its action in a 13-0 vote, according to a statement released by Mayor Eric Garcetti’s office.
Los Angeles has controlled the airport since 1967, the year it opened, and has owned the facility since 1985.
The transfer agreement, which was announced in August, has now been approved by all of the required governmental and airport boards. However, the transfer cannot take place until it’s approved by the Federal Aviation Administration.
Ontario sued Los Angeles in 2013, alleging that Los Angeles World Airports – the agency that oversees the airport – had neglected Ontario International for the sake of Los Angeles International Airport, which Los Angeles also owns.
