Los Angeles Mayor Eric Garcetti and Ontario Mayor pro Tem Alan D. Wapner today announced a Settlement Agreement Term Sheet has been signed which will lead to the transfer of ownership of LA/Ontario International Airport (ONT) to the Ontario International Airport Authority (OIAA) subject to approvals by the Los Angeles Board of Airport Commissioners, Los Angeles City Council, Ontario City Council, the OIAA and the Federal Aviation Administration.
In a joint statement issued at a news conference at ONT, Garcetti and Wapner said the Settlement Term Sheet adheres to the premise that Los Angeles and Los Angeles World Airports (LAWA) will be reimbursed to the extent needed to make them whole regarding investments they have made in ONT, while providing job protection to the airport’s current employees. Along form settlement agreement consistent with the initial term sheet will be prepared within 60-days. A formal approval process is expected to begin in October 2015, with the entire process, including FAA approval, expected to be completed within one year.
“Together, we’ve reached a deal that will benefit everyone: Inland Empire residents, Angelenos, LAWA, the Ontario Airport, and the dedicated employees who work at our airports,” said Mayor Eric Garcetti. “This agreement resulted from hard work and courage on both sides of the table. I have supported the transfer of ONT to local control since my first day in office and I am thrilled that we can stop litigation and focus on a partnership that expands Southern California’s commitment to superior air travel.”
