Charlotte Douglas International Airport extends airline lease for one year

Charlotte Douglas International Airport announced a one-year extension of its current Airline Use and Lease Agreement with airlines, including American Airlines.

The agreement between the airport and the signatory airlines began on July 1, 2016, and runs through June 30.

“The current AULA terms and conditions will carry forward during this timeframe, and travelers can expect no impact to operations,” a spokesperson for the Charlotte airport said in a Friday statement.

The lease agreement governs the business relationships between the Charlotte airport and partner airlines. This includes the assignment of property rights, airport and airline operations, maintenance and repair obligations and financial commitments between parties.

The carriers on the lease are American Airlines Group Inc. (NASDAQ: AAL); Delta Air Lines Inc. (NYSE: DAL); United Airlines Holding Inc. (NASDAQ: UAL); Frontier Group Holdings Inc. (NASDAQ: ULCC); and Southwest Airlines Co. (NYSE: LUV). Spirit Aviation Holdings Inc. had been a signatory airline, too, but has since gone out of business.

While all the airlines play a role in the lease, American Airlines is a significant factor. The Fort Worth, Texas-based company accounts for around 90% of the flights at the airport.

“As our second-largest hub, Charlotte plays a critical role in connecting customers across American’s global network,” American said in a statement. “Our long-standing commitment continues to position Charlotte as a leading global destination, while the strength and reach of our network drives tourism, business development and economic prosperity — with our CLT hub responsible for contributing $30 billion annually to the North Carolina economy.”

Long term negotiations for a new agreement are ongoing.