The City of St. Louis is exploring a possible lease of Lambert International Airport under the FAA Airport Investment Partnership Program (the “FAA Program”) to an airport operator (the “Airport Operator”). The Airport Operator would be a private-sector company or consortium experienced in operating large commercial airports.
The City recognizes and appreciates the many contributions of Airport employees to the success and value of the Airport. The City included certain “Guiding Principles” in the consulting agreement with its transaction advisors, critical among which is providing meaningful opportunities to current Airport employees. Specifically, the Guiding Principles included the following principles for any airport lease transaction:
“4. Protection of existing collective bargaining agreements and future protections as outlined in the contract,” and
“5. Development of an agreed upon plan and approach to offer employment to existing employees not covered by collective bargaining agreements and future protections as outlined in the contract and a commitment to inclusion and diversity in hiring with a focus on minority and disadvantaged hiring.”