The U.S. Department of Transportation has given preliminary approval to the city of St. Louis’ request to explore the privatization of St. Louis Lambert International Airport.
The Transportation Department said the airport’s preliminary application was approved under a 1996 law that allows the Federal Aviation Administration to approve up to 10 airport privatization projects.
The preliminary approval “demonstrates the administration’s commitment to leveraging innovative financing strategies to revitalize our nation’s aviation infrastructure,” Elaine Chao, transportation secretary, said in a statement.
The city’s next steps include choosing a private operator for the airport and negotiating an operations agreement, the FAA said. Any agreement must also be approved by the airlines and city boards.
Read more: St. Louis Business Journal