VT MAE deal moves forward

PENSACOLA, Fla. – The Pensacola City Council will be asked to approve a final amendment to a lease agreement with VT MAE and approve a $6.3 million loan to enable construction of a maintenance and repair facility to begin. The project at Pensacola International Airport was delayed after VT MAE requested the planned hangar be enlarged to accommodate larger 757 aircraft. The pricetag went from $37.3 million to $46 million to handle larger aircraft. The city secured additional money from the state to cover the increase, but won’t get it until fiscal year 2018. VT MAE, owned by Singapore Technologies Engineering, has a major facility in Mobile, Ala., and is expanding into Pensacola. (Source: Pensacola News Journal, 09/22/16)