Biggest US airport parking firm bust

29.01.10

Parking Co of America Airports, the largest operator of off airport parking in the US, has filed for Chapter 11 bankruptcy after a fall in business and leisure travel caused its revenue to fall. In the UK some airport parking operators will no doubt be struggling too, with the failure of the biggest US operator a warning to UK customers to know where they are booking and with whom. We would advise that the focus on well known brands and companies - like the ones we works with !

Based in Pennsylvania, Parking Co of America operates 31 off-site airport car parks comprising over 40,000 parking spaces under the AviStar, FastTrack and SkyPark names, including car parks near 7 of the 10 busiest US airports - but it still failed. The company's owner, Macquarie, which owns a stake in Bristol Airport, plans to sell the business to Bainbridge ZKS-Corinthian, pending bankruptcy court approval to eliminate $201 million of debt !

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