Port Authority Ties Flight Auctions to Fed Money

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The Port Authority says it's willing to support auctioning off airport slots, but only if the federal government invests more money in the air traffic control system.

Authority owns the region's three major airports and is battling the U.S. Department of Transportation over the best way to relieve congestion.

Mayor Michael Bloomberg sides with the feds, saying that auctioning off a few take-off and landing slots would encourage airlines to use larger planes and move more people. Port Authority Chairman Anthony Coscia says he'll continue negotiations.

COSCIA: We would reconsider our position on any subject if we saw a meaningful change in philosophy that was about making it easier for more people to travel not limiting the number of people who could travel.

REPORTER: The federal department of transportation determines which airlines get to fly in where. It's planning to auction off one take-off and landing slot at Newark Liberty Airport on Sept. 3.