United win for new runway
22 / 01 / 2009
THE City of Chicago is to pay United Airlines US$163 million to relocate its O’Hare International Airport cargo facility out of the way of a planned new runway.
Runway 10 is part of the $15 billion plan to modernize O’Hare, which is known for its delays. United and FedEx have already agreed to demolish their cargo facilities along the southern edge of the airport although the amount of compensation to be awarded to FedEx has yet to be finalised.
“The agreement is final. We just owe United a check, which is in process,” said Rosemarie Andolino, executive director of the O’Hare modernisation program.
United lost $1.1 billion on hedged fuel costs and collateral and capital spending during the fourth quarter of 2008.
Runway 10 was due to be completed this year but it has been held up by a legal case over a cemetery the airport wants to dig up that is in the way of the planned runway.
