•      This Act provides for the leasing of certain airports.

•      Airport land and other airport assets will be transferred from the Federal Airports Corporation (FAC) to the Commonwealth.

•      The Commonwealth will grant an airport lease to a company.  The company is called an airport‑lessee company .

•      Immediately after the grant of the airport lease, the Commonwealth may transfer or lease certain assets to the airport‑lessee company.

•      Certain employees, assets, contracts and liabilities of the FAC will be transferred to the airport‑lessee company.