Birmingham has agreed to extend its lease to the Birmingham Airport Authority by 25 years, from 2045 to 2070. (Photo by Greg Garrison/AL.com) ggarrison@al.com

Birmingham has agreed to extend its lease to the Birmingham Airport Authority by 25 years, from 2045 to 2070, to unlock new investments by aviation companies.

The extended lease will allow the airport authority to sign new contracts worth $72 million in investments by airline companies, Birmingham Airport Authority CEO Ron Mathieu said.

“Atlantic Aviation is investing $40 million; Million Air is investing $32 million,” Mathieu said in an interview after the council meeting.

He said their investments include building new hangars and tearing down some of the older existing facilities. The extension allows the companies to contract

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