STATE COLLEGE — The board of the Centre County Airport Authority on Friday, Feb. 27. approved the material terms of a proposed transaction to take full ownership of the State College Regional Airport.
The proposed sale is subject to regulatory approval by the Federal Aviation Administration, among other federal entities.
The approved term sheet authorizes the Airport Authority to work with Penn State — which currently owns the airport and is responsible for its administration, planning, development, operation, maintenance and security under FAA and Transportation Security Administration regulations — to execute definitive agreements to transfer ownership.
No immediate changes to airport operations, services, or management are planned at this time. Tenants, airline partners, and passengers can expect normal operations to continue.
“Together with Penn State, we remain committed to the safe, efficient, and reliable operation of the State College Regional Airport during this transition,” said Chris Groshel, Chair of the Airport Authority. “This will ultimately be a great outcome for the flying public, as we believe that with one owner, the airport will have more opportunities for growth and efficiency.”
