Partnership lowers the sky high cost of NextGen

Monday - 4/18/2011, 10:41am EDT

John Kefaliotis, Vice President,Next Generation Transportation Systems, ITT Corp.

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A partnership between a technology contractor and a finance firm is promising to help the FAA speed up deployment of its NextGen air traffic control system. That's the plan to replace ground radars with GPS satellites to guide airplanes. ITT Corporation is teaming with Nexa Partners to provide low-cost financing for airlines who have to make expensive upgrades in order to use NextGen. Joining us to explain how it all works is John Kefaliotis, Vice President of Next Generation Transportation Systems, ITT Corp.