Propeller Investments, a private equity firm based in New York, wants to enter into negotiations with Snohomish County within 30 days.
“The proposed partnership would provide Snohomish County residents with better access to commercial air service, increase economic development in the area and take advantage of Paine Field’s aviation infrastructure and extensive aviation industrial base,” the company said in a news release.
Commercial air service at Paine Field has been controversial for years with people who live in the cities around the airport worried about noise, pollution and traffic. Mukilteo is leading a court challenge this week to a study that says commercial air service would not harm surrounding communities.
Propeller said Paine Field handles about 305 flights daily and is operating at 45 percent capacity.
The company envisions a two-gate operation that would add four to five flights a day, what it says is less than 1 percent of Paine Field’s current volume.
Propeller does not say whether it is working with any airlines at the moment.
The company envisions flights would be focused on regional destinations in the West, including cities like Portland, Spokane, San Francisco, Los Angeles, Las Vegas, San Diego and Palm Springs.
More info: www.propellerinvestments.com
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