RELEASE:

CONTACT:
IMMEDIATE

Shannon N. Marshall 804-371-6844
Shannon.Marshall@vdot.virginia.gov

CO-115357

June 2, 2017



VDOT ASSURANCE AND COMPLIANCE OFFICE COMPLETES REVIEW OF PENINSULA AIRPORT COMMISSION

RICHMOND, Virginia – Virginia Secretary of Transportation Aubrey Layne requested the Virginia Department of Transportation’s Assurance and Compliance Office review the Peninsula Airport Commission (PAC) following media reports publicly disclosing a $5 million commercial loan default involving People Express Airlines, Inc., (PEX) that was guaranteed by the PAC and satisfied using collateralized PAC bank account proceeds consisting of state, local and airport funds. The Assurance and Compliance Office has completed its review. The report and supplemental documents can be found here: http://www.virginiadot.org/newsroom/statewide/airport_commission_review.asp



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Page last modified: June 2, 2017