logo
PennDOT invests nearly $10M to improve PA airports; $6.2M for WB/Scranton

PennDOT invests nearly $10M to improve PA airports; $6.2M for WB/Scranton

Yahoo7 days ago

Jun. 3—WILKES-BARRE — The Pennsylvania Department of Transportation on Tuesday announced a $10 million state investment in projects at five public use airports — including $6.2 million for upgrades at the Wilkes-Barre Scranton International Airport.
The funding for seven airports in four counties will be used for facility improvements, infrastructure preservation and development — supporting safe, reliable infrastructure, while growing the Commonwealth's economy.
Wilkes-Barre Scranton International Airport received the largest single allocation in this round of funding.
Sen. Marty Flynn, D-Scranton, said the state funding at Wilkes-Barre/Scranton will go toward expanding the terminal and modernizing the Transportation Security Administration (TSA) screening area.
Carl Beardsley, executive director at the airport, said the total project cost estimate is $18.3 million. He said in addition to the $6.2 million announced Tuesday, the airport has received other funding from IIJA-AIG, AIP, Supplemental AIP, PFC.
"The primary goals of the project are to improve the passenger's experience and well-being at the airport," Beardsley said. "These goals will be accomplished by expanding the terminal space approximately 10,000 square feet and incorporating the latest screening technology, increasing queuing space for security screening, providing space for social distancing, improving air quality and other public health measures."
Additionally, Beardsley said implementing a separate exit lane for off-boarding passengers will reduce the conflict that currently exists with inbound and outbound passengers crossing each other near the stairs/escalators.
"These improvements will help minimize the spread of pathogens," Beardsley said. "The secondary goal of this project is to minimize impacts to passengers and airport operations while constructing these improvements."
Beardsley said a strategic phasing plan will be developed that focuses on the safe movement of passengers within the terminal and clearly identifies staging areas on the airfield side.
He said all work associated with this project is AIP eligible and will not permanently impact existing aircraft movement areas.
Sen. Flynn said the investment is part of a larger initiative by the Shapiro Administration to improve airport infrastructure across the Commonwealth.
"This funding marks a long-term investment in the future of Northeastern Pennsylvania," said Sen. Flynn. "As demand for air travel and commerce in our region continues to rise, it's essential that our infrastructure keeps pace. These upgrades will ensure our airport remains a modern, accessible, and secure gateway for residents, businesses and visitors alike."
Sen. Flynn said the project will be financed through the state Capital Budget via the Aviation Transportation Assistance Program, which is supported by bonds. Once completed, the upgrades will improve passenger flow, enhance security operations, and support continued growth at one of northeastern Pennsylvania's busiest airports.
According to PennDOT, Pennsylvania's robust aviation industry employs more than 226,000 people, provides nearly $12.5 billion in payroll and employment benefits, and has a $34 billion annual economic impact.
In addition to providing travel options, airports also facilitate services such as air cargo and freight, police and law enforcement, emergency medical services, firefighting and disaster and emergency response.
"Pennsylvania's aviation industry provides good-paying jobs while linking communities to a larger transportation system that moves goods and people around the world," said PennDOT Secretary Mike Carroll. "These investments are another example of Governor Shapiro's focus on maintaining our infrastructure while also expanding business opportunities."
—Other airports receiving funding:
Bucks County
Quakertown Airport — $1.1 million to construct three new hangars.
Doylestown Airport — $525,000 for the continued rehabilitation of hangars.
Doylestown Airport — $157,500 to demolish four structures on airport property.
Doylestown Airport — $360,000 to extend public water access to the terminal area of the airport.
Jefferson County
DuBois Regional Airport — $225,000 for the continued renovations of their administration building.
Lehigh County
Lehigh Valley International Airport — $1.5 million to construct a parking structure to enhance terminal commercial development.
Reach Bill O'Boyle at 570-991-6118 or on Twitter @TLBillOBoyle.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Phoenix Aviation Capital and AIP Capital Announce Closing of $300m Senior Secured Credit Facility
Phoenix Aviation Capital and AIP Capital Announce Closing of $300m Senior Secured Credit Facility

Yahoo

time4 hours ago

  • Yahoo

Phoenix Aviation Capital and AIP Capital Announce Closing of $300m Senior Secured Credit Facility

Expands Lender Relationships to Further Support Platform's Growth DUBLIN and STAMFORD, Conn. and NEW YORK, June 11, 2025 /PRNewswire/ -- Phoenix Aviation Capital ("Phoenix" or "the Company"), a full-service aircraft lessor managed by AIP Capital ("AIP") and a portfolio company of funds advised or controlled by affiliates of BC Partners Advisors L.P. announced the closing of a $300 million senior secured credit facility ("the facility"). Royal Bank of Canada ("RBC") acted as Structured Agent. RBC, Citibank and Morgan Stanley acted as Joint Lead Arrangers. The facility will be used to refinance seven assets currently owned by Phoenix and provide future funding for new asset acquisitions. "This facility represents another key milestone in Phoenix's expansion of its lender group and availability of debt capital," said Jared Ailstock, Managing Partner at AIP. "We are grateful for the support from the bank group as we continue to execute on Phoenix's growth strategy." "Closing this facility through a combination of new lenders and existing banks demonstrates the support Phoenix and AIP have in the aviation bank market," said Patrick Schafer, Managing Director at BC Partners and board member of Phoenix. "The facility will provide Phoenix with additional capacity and flexibility to support the Company's airline customers." Vedder Price served as transaction counsel and PwC acted as tax advisor to Phoenix and AIP. McCann Fitzgerald also acted in capacity as Irish counsel to Phoenix and AIP. Clifford Chance served as transaction counsel to the lenders. About AIP Capital AIP Capital (AIP) is a global alternative investment manager focused on opportunities in asset-based finance including aviation and equipment finance. AIP, together with its affiliates, manages approximately $4 billion of assets on behalf of a diversified global investor base. The AIP team is comprised of more than 30 experienced professionals across AIP's offices in Stamford, New York City, Dublin, and Singapore. For more information about AIP Capital or to speak with company executives, please contact About BC Partners & BC Partners Credit BC Partners is a leading international investment firm in private equity, private debt, and real estate strategies. BC Partners Credit was launched in February 2017, with a focus on identifying attractive credit opportunities in any market environment, often in complex market segments. The platform leverages the broader firm's deep industry and operating resources to provide flexible financing solutions to middle-market companies across Business Services, Industrials, Healthcare and other select sectors. For further information, visit Media Contacts AIP CapitalGeoffrey BC PartnersLuke 7775 180 721 SOURCE AIP Capital Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Phoenix Aviation Capital and AIP Capital Announce Closing of $300m Senior Secured Credit Facility
Phoenix Aviation Capital and AIP Capital Announce Closing of $300m Senior Secured Credit Facility

Yahoo

time4 hours ago

  • Yahoo

Phoenix Aviation Capital and AIP Capital Announce Closing of $300m Senior Secured Credit Facility

Expands Lender Relationships to Further Support Platform's Growth DUBLIN and STAMFORD, Conn. and NEW YORK, June 11, 2025 /PRNewswire/ -- Phoenix Aviation Capital ("Phoenix" or "the Company"), a full-service aircraft lessor managed by AIP Capital ("AIP") and a portfolio company of funds advised or controlled by affiliates of BC Partners Advisors L.P. announced the closing of a $300 million senior secured credit facility ("the facility"). Royal Bank of Canada ("RBC") acted as Structured Agent. RBC, Citibank and Morgan Stanley acted as Joint Lead Arrangers. The facility will be used to refinance seven assets currently owned by Phoenix and provide future funding for new asset acquisitions. "This facility represents another key milestone in Phoenix's expansion of its lender group and availability of debt capital," said Jared Ailstock, Managing Partner at AIP. "We are grateful for the support from the bank group as we continue to execute on Phoenix's growth strategy." "Closing this facility through a combination of new lenders and existing banks demonstrates the support Phoenix and AIP have in the aviation bank market," said Patrick Schafer, Managing Director at BC Partners and board member of Phoenix. "The facility will provide Phoenix with additional capacity and flexibility to support the Company's airline customers." Vedder Price served as transaction counsel and PwC acted as tax advisor to Phoenix and AIP. McCann Fitzgerald also acted in capacity as Irish counsel to Phoenix and AIP. Clifford Chance served as transaction counsel to the lenders. About AIP Capital AIP Capital (AIP) is a global alternative investment manager focused on opportunities in asset-based finance including aviation and equipment finance. AIP, together with its affiliates, manages approximately $4 billion of assets on behalf of a diversified global investor base. The AIP team is comprised of more than 30 experienced professionals across AIP's offices in Stamford, New York City, Dublin, and Singapore. For more information about AIP Capital or to speak with company executives, please contact About BC Partners & BC Partners Credit BC Partners is a leading international investment firm in private equity, private debt, and real estate strategies. BC Partners Credit was launched in February 2017, with a focus on identifying attractive credit opportunities in any market environment, often in complex market segments. The platform leverages the broader firm's deep industry and operating resources to provide flexible financing solutions to middle-market companies across Business Services, Industrials, Healthcare and other select sectors. For further information, visit Media Contacts AIP CapitalGeoffrey BC PartnersLuke 7775 180 721 SOURCE AIP Capital Sign in to access your portfolio

Phoenix Aviation Capital and AIP Capital Announce Closing of $300m Senior Secured Credit Facility
Phoenix Aviation Capital and AIP Capital Announce Closing of $300m Senior Secured Credit Facility

Yahoo

time4 hours ago

  • Yahoo

Phoenix Aviation Capital and AIP Capital Announce Closing of $300m Senior Secured Credit Facility

Expands Lender Relationships to Further Support Platform's Growth DUBLIN and STAMFORD, Conn. and NEW YORK, June 10, 2025 /PRNewswire/ -- Phoenix Aviation Capital ("Phoenix" or "the Company"), a full-service aircraft lessor managed by AIP Capital ("AIP") and a portfolio company of funds advised or controlled by affiliates of BC Partners Advisors L.P. announced the closing of a $300 million senior secured credit facility ("the facility"). Royal Bank of Canada ("RBC") acted as Structured Agent. RBC, Citibank and Morgan Stanley acted as Joint Lead Arrangers. The facility will be used to refinance seven assets currently owned by Phoenix and provide future funding for new asset acquisitions. "This facility represents another key milestone in Phoenix's expansion of its lender group and availability of debt capital," said Jared Ailstock, Managing Partner at AIP. "We are grateful for the support from the bank group as we continue to execute on Phoenix's growth strategy." "Closing this facility through a combination of new lenders and existing banks demonstrates the support Phoenix and AIP have in the aviation bank market," said Patrick Schafer, Managing Director at BC Partners and board member of Phoenix. "The facility will provide Phoenix with additional capacity and flexibility to support the Company's airline customers." Vedder Price served as transaction counsel and PwC acted as tax advisor to Phoenix and AIP. McCann Fitzgerald also acted in capacity as Irish counsel to Phoenix and AIP. Clifford Chance served as transaction counsel to the lenders. About AIP Capital AIP Capital (AIP) is a global alternative investment manager focused on opportunities in asset-based finance including aviation and equipment finance. AIP, together with its affiliates, manages approximately $4 billion of assets on behalf of a diversified global investor base. The AIP team is comprised of more than 30 experienced professionals across AIP's offices in Stamford, New York City, Dublin, and Singapore. For more information about AIP Capital or to speak with company executives, please contact About BC Partners & BC Partners Credit BC Partners is a leading international investment firm in private equity, private debt, and real estate strategies. BC Partners Credit was launched in February 2017, with a focus on identifying attractive credit opportunities in any market environment, often in complex market segments. The platform leverages the broader firm's deep industry and operating resources to provide flexible financing solutions to middle-market companies across Business Services, Industrials, Healthcare and other select sectors. For further information, visit Media Contacts AIP CapitalGeoffrey BC PartnersLuke 7775 180 721 View original content to download multimedia: SOURCE AIP Capital

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store