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<\/figure><\/div>\n\n\n\nThe new product will benefit airport managers throughout the\nUnited States regardless of airport size, location, or organizational\nstructure.<\/p>\n\n\n\n
Led by U.S. airport chief financial officers, Steer, EY\nInfrastructure Advisors, and Kaplan Kirsch & Rockwell, the ACT Working\nGroup on Financial Innovations sought to provide sufficient context and\nbackground to allow airport decision makers to interact with their business\npartners more effectively and explore the best alternatives and contractual\nstructures for their specific airport.<\/p>\n\n\n\n
\u201cIncreasingly, airport leaders need to be collaborative\nacross the industry to address our challenges,\u201d said Philadelphia International\nAirport CEO Atif Saeed, A.A.E, IAP. \u201cOur partnership with AAAE, industry, thought\nleaders, and like-minded airports through the ACT program has been invaluable.\nIt provides us with an opportunity to pilot innovation, create standards, and\nexplore sustainable ways to reimagine the airport experience together. The work\nproduced here is an example of this collaborative thought leadership.\u201d<\/p>\n\n\n\n
The working group sought to provide airport leaders a primer\nfor discussions with existing and future concessionaire partners, including\nidentifying some of the key business drivers of airport concessions and\nemerging trends in the industry. The document reflects the fact that each\nairport\u2019s position will be unique and require consideration of historical\nprecedents, local market influences, legal and commercial legacy agreements,\nconsumer preferences, and market demand. The research reflects recent changes in\nthe contracting environment since the onset of the COVID-19 pandemic and\nhighlights preliminary lessons learned. It also provides a forward-looking view\nas the industry continues to return and as passenger traffic and the health of\nthe industry improves.<\/p>\n\n\n\n