Stimulus may help airports with bonds

— -- Is a provision in President Obama's stimulus package helping to unlock the bond market for airports?

The Metropolitan Nashville Airport Authority, which operates Nashville International, says it's the first airport authority to take advantage of the stimulus bill's provision allowing airports to issue tax-exempt bonds. The airport authority priced bonds totaling $36 million to fund the second phase of a terminal renovation project at Nashville International. Its bonds are not subject to the alternative minimum tax (AMT) for investors, thus making them cheaper for the airport to issue.

The stimulus program included a new law that excludes interest earned on certain airport revenue bonds issued this year and next from the federal AMT. In the past, federal tax law classified a majority of airport bonds as "private activity" bonds, requiring investors subject to AMT to pay taxes on income from them. (Interest on most municipal bonds isn't subject to federal tax.) Airport executives say that has made airport bonds unpopular, and they have had to pay higher interest rates to float their bonds. Airports lobbied actively for the new provision. Nashville officials estimate avoiding the AMT premium generated $3.2 million in debt-service savings.

What's new

Lufthansa lounge

Lufthansa has opened a new lounge at Washington Dulles for its elite customers. Spread across two levels in Concourse B, the 10,000-square-foot facility provides various amenities, including leather seats, TVs, food and drink, and work stations.

Airports on Facebook

Airports want to make new friends through Facebook. Akron-Canton and Hartsfield-Jackson Atlanta say they've launched new pages on the popular social-networking site, where customers can check in for new developments.

Hartsfield-Jackson says its page offers information on art and community programs and new facilities, links to flight status and security wait-time updates.

To attract more "friends," Akron-Canton is sponsoring a contest for new and current members of its Facebook group. Top prize: two round-trip tickets on Frontier Airlines.