TERRE HAUTE — Ongoing negotiations for the sale of Terre Haute International Airport’s Fixed Base Operator might reach a positive conclusion this month, the agency’s director said Wednesday.
“I hope we do,” airport executive director Dennis Wiss said of a potential announcement at the board’s Nov. 18 meeting.
The facility’s Fixed Base Operator, or FBO, is a collection of services and assets, including the fueling center, flight school and maintenance facility, he explained. “All that collectively is the FBO.”
The collection represents 17 airplanes, between 25 and 28 employees and about 500,000 gallons of annual fuel sales, he said. The value of used planes on a resale market is fluid, but Wiss estimated the worth of those in question to be between $900,000 and $1.1 million.
Wednesday afternoon, jet fuel was selling at $3.54 per gallon, and Avgas, or aviation gasoline, was $4.15 per gallon at the Terre Haute facility, he said, adding that the price and margin on those products vary from airport to airport in conjunction with a number of factors.
Wiss, who assumed the director position in June, said the agency attempted to sell the FBO last year but had no offers. This year, the group closed the bid process in September with one offer on the table from a local entity.
“It’s enough to say we’re still working with it,” he grinned, noting that all involved have understood the bid offer to be a negotiation in progress since its submission. Wiss said he’ll meet with the potential buyer again Friday.
Airport FBOs vary in ownership structure, he said. The facility he left in Show Low, Ariz., had a city-owned FBO, but the airport in Bloomington, Ind., has two that are privately-owned. “It’s a mix,” he said, explaining the advantages and disadvantages to both. While the services bring a considerable amount of revenue, they also represent proportional costs. Private-sector owners have more freedom to operate, grow and market a business than do cities and municipal departments, he pointed out — particularly when tax revenue is down.
The airport’s 2010 budget projects revenues of $3.2 million against $4.5 million in costs, even after about $300,000 in budget cuts, Wiss said.
At last week’s board meeting, Wiss said the deficit is partly due to lower tax revenues, but also a lack of facility revenue.
The airport has no plans for an air show in 2010, but Wiss said the group hopes to host more “airport open houses” and smaller shows to promote the facility while conserving costs.
In the meantime, the Indiana State University flight school program is very strong, and that’s a relationship any potential FBO buyer will want to develop. “They know we’re looking for a new opportunity and this gentleman has talked to them,” he said.
Wiss added that Terre Haute’s airport is in a good location with strong facilities, and both factors make it a great opportunity for investment growth.
“Terre Haute is a great place to fly into,” he said.
Brian Boyce can be reached at 812-231-4253 or brian.boyce@tribstar.com.
Local & Bistate
Airport officials positive about potential sale
- Local & Bistate
-
-
Asian hooded crane lands in Greene County wildlife area
Bird watchers are flocking to a southwestern Indiana wildlife area to try to catch a glimpse of a crane usually spotted only in Asia.
-
Slow drips: It’s maple syrup season in Indiana
More seasonal, colder temperatures will hit the Wabash Valley this weekend, which is ideal weather for maple syrup production, said Keith Ruble, superintendent of the Vigo County Parks and Recreation Department.
However, Ruble voices concern that this year’s maple syrup season may be short.
-
Downtown restaurant celebrates expansion
The streets of Terre Haute were chilly Thursday night, but for the glow of hot pasta inside Louise’s Pizzeria and Cafe.
-
Contract signed for new Y
Papers are signed and the ink is in place for a new YMCA to operate in Terre Haute.
-
City to impose $30 release fee on towed vehicles
The Terre Haute City Council voted without opposition Thursday to impose a new $30 release fee on vehicles towed and impounded by the police as part of a criminal investigation.
-
Valley educators cautious on Indiana’s ‘No Child’ waiver
Indiana is one of 10 states to receive a waiver from federal No Child Left Behind requirements.
-
Driver dies after Illinois school bus crash
“Brace yourself. Brace yourself,” Fay Pickering shouted to her students just before the school bus she was driving crossed U.S. 40 and landed in a ditch Thursday morning.
-
Trial date set for former WTH police chief
A July 23 trial date has been set for a former police chief of West Terre Haute accused of theft.
-
Motorcycle gang member pleads guilty in federal court
A member of an Indianapolis motorcycle gang who delivered methamphetamine to a Terre Haute dealer has pleaded guilty to drug charges in federal court.
-
July trial date set for mother charged with child neglect
A July 30 trial date has been set for a Terre Haute mother charged with neglecting and battering her toddler.
-
Business hosting SPPRAK fundraiser
Java Haute is hosting the latest fundraiser sponsored by SPPRAK — Special People Performing Random Acts of Kindness.
-
Valley high school cooking competition under way today
Clabber Girl Corp. and Gordon Food Services will host the fourth-annual High School Chef Competition, beginning today through Saturday, and again Feb. 18, in the Culinary Classroom at Clabber Girl.
- UPDATE: Marshall, Ill., school bus driver involved in accident dies; cause appears to be cardiac-related
-
Terre Haute road name game
What used to be called U.S. 40 from the Wabash River west through West Terre Haute to Interstate 70 needs to be renamed and, probably, get new street addresses, a Vigo County planner recommends.
-
MARK BENNETT: William Henry Harrison taught us how to campaign
William Henry Harrison is running for president, again.
It seems impossible, because today would be his 239th birthday, and America has never elected a deceased person to the Oval Office. -
Air National Guard cuts won’t hit 181st Intelligence Wing
The Air National Guard is taking the lion’s share of planned cuts announced last week by the U.S. Air Force. But no cuts are currently expected at Terre Haute’s 181st Intelligence Wing. In fact, the nation’s evolving defense strategy may spell growth at the local base.
-
Friends group takes over Ernie Pyle home in Dana
The western Indiana home in which renowned Hoosier journalist Ernie Pyle was born and an adjacent museum dedicated to preserving his legacy as a World War II correspondent have a new owner.
-
ISU rec center pool out of service while being repaired
Indiana State University is spending about $10,000 to repair a swimming pool at the Student Recreation Center, which opened in 2009.
-
Clinton man throws away, then recovers, $50,000 ticket
A Vermillion County man found himself in a scenario that strikes fear in the heart of Lottery players everywhere. He threw away a $50,000 winning ticket.
-
Show to feature talents of artists with disabilities
Artists whose disabilities have overshadowed their work get a chance to shine in the light of a prodigy this coming month.
-
Fort Wayne forester tells of damage
The emerald ash borer likely will cause as much as $8 million in damage to Fort Wayne’s ash trees by 2015, the city’s manager of forestry operations told a Terre Haute audience Tuesday.
-
Unclaimed assets now part of Goodwill auction site
Many of Indiana’s unclaimed assets are now on Goodwill’s online auction site, Indiana Attorney General Greg Zoeller announced Tuesday.
-
Toyota to increase Highlander output in Indiana
Toyota will increase production of the Highlander mid-size SUV in late 2013 at the company’s Princeton, Indiana plant. Hybrid and export versions will be included. The project is expected to create about 400 new jobs at Toyota Motor Manufacturing Indiana Inc.
-
Friends of Ernie Pyle takes ownership, renames Dana museum
The western Indiana home in which renowned Hoosier journalist Ernie Pyle was born, and an adjacent museum dedicated to preserving his legacy as a World War II correspondent, have a new owner.
-
Spreading Goodwill
Goodwill Industries Inc. on Tuesday opened its third Terre Haute store.
-
Feds sending money to Feather Creek
Clinton residents have reason to celebrate.
Federal officials have granted more than $800,000 toward a $1.2 million project of widening and deepening Feather Creek, which has been a flooding problem in the city since the Great Depression. Work could begin in spring 2013. -
City to clean up Toney site
A contaminated petroleum site at the northwestern edge of Indiana State University’s campus will be transferred to the city of Terre Haute to remove the property from a pending sale.
-
Bennett: Terre Haute ‘moving in the right direction’
After four years of shrinking budgets and a slow economy, Terre Haute is “moving in the right direction,” Mayor Duke Bennett said Tuesday morning in his first “State of the City” address since being re-elected by Terre Haute voters in November.
Difficult financial and political battles are largely in the past, he said, and now the city can start moving forward in ways not possible in the past four years. -
Terre Haute group locates missing caver
An Iraq war veteran and caving enthusiast took his own life about half a mile from where he left his car on a rural road but more than four months passed before four young spelunkers exploring where they weren’t allowed found him deep inside a treacherous cave, Indiana conservation officers said Tuesday.
-
Schools celebrate rising graduation rates as ‘team effort’
For the fourth year in a row, Vigo County School Corp. graduation rates have topped the state average, school district officials said during a news conference Tuesday.
- More Local & Bistate Headlines
-
Asian hooded crane lands in Greene County wildlife area
Ga Girl Fights Off Kidnapper at Walmart
Denver's Largest-Ever Drug Bust Nets Dozens
Obama Gives Education Waivers to 10 States
Raw Video: Italy's Mount Etna Bursts Into Life
Marines: No Punishment for Nazi-like Flag
Raw Video: School Bus Burst Into Flames
Nevada Highway Patrol, City Settle Beating Case
Vets Look to Translate Military Skills Into Jobs
Winter Slamming North Asia, Parts of Europe
Homs Bombardment Continues, Global Outcry Grows
Expert: Removing LA School's Staff 'Appropriate'
Syrian Forces Renew Bombardment of Homs
LA School Reopens Amid Sex Abuse Scandal
$25B Settlement Reached Over Foreclosure Abuses
Greeks March; Angry Despite Debt Deal
LA School in Sex Abuse Scandal Reopens
Giffords Aide to Run for Her Seat
Raw Video: U.S. Pullout Celebration
States, Banks Reach Foreclosure-abuse Settlement
Raw Video: Dog Rescued From Icy Colo. Water
Woolly Mammoth Caught on Camera?
Sandusky makes a statement
Did JLo 'Assault' Marc Anthony on Camera?
Christie Brinkley's Runway Slip
Toddler forced to run half-naked in snow
Halle Wants to Leave the Country
Northern Lights shine above earth
Plane makes perfect belly landing
Kris Jenner New Face of Arousal Oils
Trending: Zip it!
What's in Steve Jobs' FBI file?
SJP Talks About Replacing Demi Moore in 'Lovelace'
Over 200 dead dolphins wash ashore
Lady Gaga's Battle With Bulimia
Evacuation at Sea
Osama Bin Laden Zombie Movie: "Osombie" Teaser Released
VS Model Quits Over Religion
