The Washington State Investment Board is now part owner of Propeller Airports, which operates the newly-opened Paine Field terminal in Everett, The Puget Sound Business Journal reports.
The board’s investment will be managed by Global Infrastructure Partners, an investment firm that also owns investments in London’s Gatwick Airport, and the Edinburgh Airport. The state board is a limited partner investor in Global Infrastructure Partners, reporter Andrew McIntosh reports.
"Rather than having only private investors and investment firms be beneficiaries of the new Paine Field terminal, the state's public workers can now participate in its future and financial success," Propeller Airports CEO Brett Smith said. "This deal properly positions us for long term success."
The airport currently handles 24 daily flights operated by Alaska Airlines and United Airlines, the newspaper reported. More than 600,000 passengers have taken advantage of the new infrastructure investment since it opened earlier this year.
Check out this feature from the summer edition of Washington Business to learn more about the new passenger terminal.