Washington State Investment Board, Global Infrastructure Partners invest in Propeller Airports' Paine Field

Propeller Airports, a developer and operator in Washington, has announced that investment firm Global Infrastructure Partners (GIP) has become an investor in Propeller´s Paine Field Passenger Terminal, the company said.

GIP brings airport experience and is managing the investment on behalf of the Washington State Investment Board (WSIB), a limited partner of GIP and an institutional investor that manages investments for retirement plans benefiting many of Washington State´s public sector employees, including teachers, law enforcement officers, firefighters and judges.

GIP´s investment demonstrates a level of confidence in the airport´s strong economic performance and long-term commercial viability. It will allow public employees and other travelers from the Evergreen State to benefit from the project, and is a further demonstration of Propeller´s commitment to the economic health of the region.

The investment allows Propeller to continue focusing on its management and operations of the terminal while providing the best-in-class customer service, amenities, and comfort that passengers have become accustomed to since Alaska and United Airlines launched service from the terminal earlier this year. In that time, the terminal has already made an enormous impact on the northern Seattle metro area, providing 24 daily nonstop departures to key West Coast business centers and connecting hubs — including recently announced service to Spokane and Palm Springs. In just over six months the terminal has surpassed the 600,000 passenger mark.

Propeller identifies untapped potential for commercial air travel by working with local communities and government to maximize airport assets. Propeller Airports is focused on opportunities to invest, develop and manage both general aviation and commercial service airports throughout the US.

Global Infrastructure Partners is an independent infrastructure fund manager that invests in infrastructure assets and businesses. GIP targets infrastructure investments in OECD and select emerging market countries in the power and utilities, energy and natural resources, air transport, seaports, railroad, water distribution and treatment and waste management sectors.

The Washington State Investment Board manages investment assets for 17 retirement plans benefiting public employees, teachers, law enforcement officers, firefighters and judges.