A disassembled jet with its engines torn apart sits abandoned May 12 in the largest hangar at the Auburn-Lewiston Municipal Airport in Auburn. The airport is selling tools, equipment and other items left behind when Elite Airways abruptly left. Russ Dillingham/Sun Journal file

Bids in the online auction of more than 400 items or lots of abandoned property left by Elite Airways at the Auburn-Lewiston Municipal Airport have surpassed $41,000 of the estimated $75,000 net the airport board said it projected to recoup.

The online auction is being conducted on bidspotter.com and ends Monday at 1 p.m. EDT.

On Monday, the Auburn City Council formally approved the sale of abandoned property via the auction and other excess or unused property through the end of the year. The interlocal agreement governing the airport requires that both cities approve the sale of excess property valued at more than $1,000. Lewiston gave its approval last month.

Auburn also approved extending the maturity date of the loan for Hangar No. 5 from fiscal year 2034 to fiscal year 2036. In August 2014, the cities of Auburn and Lewiston provided a loan to the airport for its acquisition of the hangar built for Lufthansa’s Starliner project. When Lufthansa shut the project down and left Auburn, the airport asked for and was granted an extension to the loan from fiscal year 2027 to fiscal year 2034.

The airport still owes about $1.6 million.

This story was originally published as part of “Gippers Sports Grill sold to familiar faces” Aug. 9. The Buzz offers quick hits about trending area business happenings. Have a Buzzable tip? Contact business writer Christopher Wheelock at 689-2817 or cwheelock@sunjournal.com

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