New Orleans plans to invite bids early next year for a long-term lease to operate Louis Armstrong International Airport in what would be the first airport privatization in the U.S. under a program overseen by the Federal Aviation Administration.
An adviser to the city-owned airport, a stronghold of Southwest Airlines Co. (LUV), said it could fetch up to $1.25 billion if investors buy into the potential for a recovery in tourism and convention business.
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