Airport Rental Car Project Suspended

The Port of Seattle Commission voted Dec. 15 to suspend construction of Sea-Tac Airport’s $412 million rental car project for up to one year. The commission said the suspension was due to the port’s inability to sell the taxable municipal bonds needed to fund the project during the global downturn.

The decision could cause the project to cost $40 million more. The port had planned to debut the project by spring 2011. The suspension threatens as many as 3,000 jobs until the bond market improves.

Turner Construction, the general contractor and construction manager, asked the port to conduct a controlled and selective slowdown of the project. Several labor groups echoed the request.

But the commission refused. Continuing to borrow money from the airport’s general fund to lend to the project’s construction, as in October when the commission authorized the transfer of $20 million from the general fund, would be irresponsible, said the port’s staff and its elected board of overseers.

Rental car company representatives also asked the port to consider just slowing down the project rather than suspending it.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

What is Your Time Worth?

Personal observations of retail and travel transactions reveal just how much a consumer’s time is worth today, and how increasingly intolerant we are of inefficient transactions.

Safeguarding Your Business with Brokers

While the high-profile bankruptcy of Atlas Choice has left many car rental companies wary of working with brokers, rental companies can take steps to protect themselves and ensure a productive relationship.

My Number One Takeaway from ICRS 2017

This year’s International Car Rental Show (ICRS) opened the door to new business models facing transportation today — yet adapting to these new technologies is not the first key to survival.

Job Finder: Access Top Talent. Fill Key Positions.

>