Thursday, January 15, 2015

Proud Bird at LAX Signs 20-Year Lease Extension

American Airlines MD-83 (53293/2021) N567AM is captured on short final to Rwy 25L at Los Angele International Airport (LAX/KLAX) 0n October 22, 2014.
(Photo by Michael Carter) 

The historic Proud Bird restaurant at the Los Angeles International Airport, which had been rumored to be closing after failing to agree to a long-term lease with airport operator Los Angeles World Airports, isn’t taking off after all.

Runway Two-Five Corp., which owns the restaurant, agreed Wednesday to a 20-year lease extension, worth more than $4.5 million over its term.

The owners of the restaurant, which features several early airplanes on its premises, expect to spend more than $5 million upgrading and refurbishing the property, according to a press release announcing the deal.

(Matt Pressberg - Los Angeles Business Journal)

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