HAMILTON, N.J. (CBSNewYork/AP) – The Port Authority of New York and New Jersey will receive $500,000 a year to operate Atlantic City International Airport.

The South Jersey Transportation Authority on Wednesday approved the payment under the 15-year agreement, which takes effect on July 1.

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The Port Authority can seek to purchase the airport. But SJTA acting executive director Sam Donelson tells The Press of Atlantic City he doesn’t believe that will happen.

As many as six Port Authority employees could work from the SJTA’s Hamilton Township offices. Donelson says no SJTA employees will lose their jobs.

The airport has never turned a profit under SJTA control.

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Atlantic City’s airport has seen a 28 percent drop in passenger traffic during the first four months of 2013 compared to the previous year.

The Port Authority already runs John F. Kennedy International Airport, LaGuardia Airport, Newark Liberty International Airport, and Teterboro Airport, plus Stewart International Airport in Newburgh.

(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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