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
-
-
Patriotism & Honor
From his vantage point, Sonner Faught could see almost every volunteer in the cemetery.
-
Graduation turns to mourning in Clinton
Jeana Lunsford’s graduation from South Vermillion High School Saturday should have been a time of celebration.
-
School choice proponents foresee growth of vouchers
Twenty-seven Vigo County students benefited from tax-supported vouchers during the first year of the Choice Scholarship Program, and that number is expected to grow for 2012-13, say Indiana school choice leaders who visited Terre Haute Thursday.
-
Tales of obstruction meet first takeover attempts
A decade after Indiana legislators gave the state the power to take over chronically failing schools, the first implementation of the law is meeting with resistance, skepticism and questions about its costs.
-
THE OFF SEASON: Raising a flag for my father, veteran or not
My daughter, Ellen, and I stood at my parents’ graves on Mother’s Day a few weeks back and talked about how it couldn’t possibly have been so long since we lost them. My dad, for instance, has been gone for 16 years, and that is nearly unimaginable
-
3 rescued from burning residence
Quick action on the part of some first-responders is credited with saving the lives of three people in a Vermillion County fire early Saturday morning, according to the Vermillion County Sheriff’s Department.
-
He never forgot a name: Friends remember victim of fire at Garfield Towers
When Freddie Poore met you, he never forgot you.
-
Hometown boy embraces ‘Promise I Made’: Clinton native Ken Kercheval takes role in Dreams Come True production
Thanks to some help from a hometown boy in Hollywood, “This Promise I Made” is still on track to be kept in Clinton.
-
STATE OF THE STATEHOUSE: Many say they don’t vote in primary because of tag that comes with it
A couple of columns ago, I posed a question about why most Indiana polling places on primary election day had so few customers.
-
Police looking for convenience store robber
Police are seeking a robbery suspect following a Saturday morning armed robbery at the Jiffy MiniMart at 25th Street and Eighth Avenue.
-
Graduation ‘responsibility’: Rose-Hulman stages 134th commencement exercises
Inventor Dean Kamen gave a first-hand demonstration Saturday of how to be an innovator.
-
THE OFF SEASON: To the seniors, one last lecture before you go …
It dawned on me one day last week, as I sat at my desk in my teacher clothes and shoes, a stack of ungraded essays calling to me from a rather tall and depressing pile, that I hadn’t missed a high school graduation in 33 years.
-
Water rescuers
Emergency personnel wheel a man who was removed from a vehicle that had been driven into the water at Crystal Lake on Boston Avenue near 14th Street at about 9 p.m. Friday.
-
For many, camping outdoors is the way to beat the heat, enjoy nature
Stringing up fishing poles in the shade of American flags, households full of Hoosiers are packing into parks across the state this weekend.
-
Towns along National Road readying for next week’s miles-long yard sale
Stretching 824 miles from Baltimore to St. Louis, the National Road — known as U.S. 40 through Indiana — will soon be the host site for perhaps the longest bargain market in the country.
-
Rose grads honoring late president Branam at commencement today
Rose-Hulman Institute of Technology’s Class of 2012 will honor the memory of Matt Branam during today’s commencement ceremony by wearing special pins with the phrase “Make It Happen; Make It Fun,” a favorite saying of the former Rose-Hulman president, who died unexpectedly on April 20.
-
Vigo County Jail Log: May 26, 2012
The following individuals were booked into the Vigo County Jail by area law enforcement on Thursday and Friday, based on jail records. Charges are recommended by arresting officers but are not final until the Vigo County prosecutor reviews the case and files official charges.
-
A fallen soldier returns home
An Army carry team moves a transfer case containing the remains of Spc. Arronn D. Fields early Thursday morning at Dover Air Force Base, Del.
-
Official touts trade with northern neighbor
A top Canadian diplomat told a Terre Haute audience Thursday his country was “disappointed” when President Obama at least temporarily rejected a proposed transcontinental oil pipeline from Alberta to Texas.
-
Caution urged for summer’s kickoff
Lane restrictions in construction zones on Interstate 70 and other highways around the state will be lifted to accommodate holiday travel for the Memorial Day Weekend.
-
Letters delivered
Several positions will be eliminated this summer at the Terre Haute mail processing facility as the U.S. Postal Service begins moving the operation to Indianapolis, a U.S. Postal Service spokesman has confirmed.
-
Companies seek Vigo tax abatements
Two Vigo County companies are seeking tax abatements for expansion projects, one of which is included as part of a county incentive package.
-
High-speed chase suspect caught in West Virginia
The suspect in a cross-country, high-speed chase originating in Terre Haute last week was reportedly in federal custody Thursday evening.
-
Second victim of deadly I-70 semi-trailer crash identified
The Vigo County Coroner’s Office has identified the passenger of a semi-tractor crash on May 16 in the eastbound lanes of Interstate 70 near the 12-mile marker.
- VIGO COUNTY JAIL LOG: May 22-24, 2012
-
Burn ban in effect for Vigo County through holiday weekend
Vigo County officials have issued a burn ban effective Thursday and remains in effect until 8 a.m. Tuesday.
-
Brazil remembers a Fallen Son
A small town seemed sadly quiet Wednesday, waiting to honor a local fallen warrior.
-
ISU OKs four-year degree guarantee
Indiana State University has announced a four-year “graduation guarantee” for students enrolling this fall and beyond.
-
Dems tout good side of compromise
Indiana Senate Minority Leader Vi Simpson, chosen to run as the Democratic candidate for lieutenant governor with gubernatorial candidate John Gregg, said during a stop Wednesday in Terre Haute that bipartisan experience is a key factor in creating jobs and legislation to help Hoosiers statewide.
-
Motorcyclist dies, motorist charged after accident
A Terre Haute man has died of injuries he sustained in a two-motorcycle, one-car crash that also injured another motorcyclist late Tuesday. The incident has led to the arrest of the car’s driver.
- More Local & Bistate Headlines
-
Beryl Makes Landfall on Florida Coast
Raw Video: National Mall Concert Shut Down
Beryl Threatens Rain, Winds on Southeast Coast
Tropical Storm Beryl Strengthens, Nears US Coast
Biden Addresses West Point Graduating Class
UN Blames Syrian Forces for Shelling Houla
Service Dogs Help Wash. Soldiers Battling PTSD
Raw Video: Gay Protest Blocked in Moscow
Shell Readies Arctic Drill Ship
Vatican in Chaos After Butler Arrested for Leaks
Today in History
50 Years Later, Underground Fire Still Burning
Jimmy Carter Endorses Egypt's Election Results
NJ Man Charged With Murder in Death of Patz
Dozens of Children Killed in New Syria Attack
Astronauts Enter World's 1st Private Supply Ship
Raw Video: Obama Lays Wreath on Memorial Day
Japan Farmers Plant, Seek Radiation-free Rice
Raw Video: Heckler Bursts in on Blair Testimony
Raw Video: Unruly Passenger Restrained in Miami
Woman, 80, Falls Out of Skydive Harness Mid-Jump
Dog runs alonside cyclists for 1,100 miles
Lady Gaga Cancels Indonesian Show After Threats
Obama Honors Fallen Troops at Arlington Cemetery
Long Story Short: Beyonce back on stage
Raw Video: Man Rescued From River in China
Celtics crush Sixers in Game 7
Alleged Lego Thief Faces Felony Charges
Has Snooki Named Her Baby?
Heat Wave Warms Holiday Weekend
Beyonce Entertains the First Family
Inspiration for the class of 2012
Colorado College Student Shot While Trespassing
Will Smith & Josh Brolin on "Men in Black 3"
80-Year-Old Skydiver's Nightmare Jump
JWoww Sizzles in a Black Bikini
Sliders on the Grill
Cruise ship crunch
Backstage With Beyonce
