Seabury Group professionals have completed the only airport privatization to date in the United States as well as other significant transportation projects in the US and abroad.
Stewart International Airport
Advised the government of New York State on the 99-year lease of Stewart International Airport to the National Express Group ("NEG") of Great Britain, negotiating the lease and deriving its underlying business terms. This was the first airport privatization completed in the United States under the auspices of the Federal Aviation Administration's Pilot Program. NEG paid $35 million upfront for the leasehold, and offered a revenue sharing arrangement with the State upon the achievement of certain traffic thresholds.
Served as Financial
Advisor to the Port Authority of New York and New Jersey on the lease and development of Terminal 4 at JFK International Airport to a consortium of companies led by the Schiphol group. Terminal 4, the International Arrivals terminal, serves approximately 6 million passengers and 40 international and domestic airlines. The $1.9 billion project to rebuild the terminal was financed in large part with $934 million of non-recourse debt issued by the Port Authority.
Massport
Advised on development options for reconstruction of Terminal A, assessed management and rate-making practices for the Board of Directors, and advised on performance measurement and budgeting practices. Served at behest of Governor as Advisor to blue-ribbon commission reviewing operations, management and financial practices at Massport post 9/11.
JFK Airport
Formed winning consortia in successful bids for Terminal 4 (JFK Airport) including negotiation of underlying lease, construction and re-development of terminal facilities and development of retail concessions. Signed fully negotiated Letter of Intend with Delta Airlines for a $ 1,6 billion terminal development at JFK airport.
Seabury's financial expertise spans across borders and types of services:
Aena
Served as Advisor on non-airline revenue generation with regard to AENA's successful bid for the Mexico Pacific Group of airports.
Shinshei Bank
Retained by Shinshei Bank (formerly known as Long Term Credit Bank of Japan) to advise on airport and airport privatization issues. Organized the first seminar on airport privatization ever to be held in Japan. Developed full financial proforma, including a target financial structure and an EBITDA multiple evaluation strategy based on an analysis of international comparables and recent transactions for Narita Airport.
Japan Air Cargo Inc.
Retained as financial advisor by Japan Air Cargo Inc. to finance the development of a $ 800 million multi phased logistic and distribution center in Japan.
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