IE Business Daily Business news for the Inland Empire.
Ontario International Airport has approved a lease that will be a blueprint for future expansion and development.
The 132-page document replaces a use-and-lease agreement adopted in 1999, when Ontario International was owned by Los Angeles World Airports, according to a statement on the airport’s website.
Los Angeles World Airports – commonly known as LAWA – is a division of the city of Los Angeles and the owner-operator of Los Angeles International and Van Nuys airports.
The updated accord, adopted this month by the Ontario International Airport Authority’s board of commissioners, sets guidelines for airline rates, charges, and operational responsibilities at the airport.
Seventy five percent of the airport’s ground transportation will go to participating airlines, according to the new lease.
“This agreement represents years of work and thoughtful negotiation, and we’re proud of the result,” said Alan D. Wapner, board president, in the statement. “It gives our airport a solid financial framework to continue its growth.”
