EXCLUSIVE: Ontario to buy back its airport from Los Angeles

ONTARIO, Calif. (KABC) -- Eyewitness News has learned that a tentative agreement has been struck with Los Angeles to return Ontario Airport back to Ontario.

Los Angeles Mayor Eric Garcetti and Ontario Councilman Alan Wapner are expected to announce the transfer of the airport back to Ontario Thursday afternoon.

Sources tell Eyewitness News that the transfer was a matter of finding the right price for an airport that has seen flights drop from 111 per day to 55 per day.

Wapner will head the newly formed Ontario Airport Authority, sources said.

Los Angeles World Airports are expected to vote on the change Thursday. The Los Angeles City Council is expected to vote at a later time.

Ontario's lawsuit to take back its airport won key court rulings in April. A trial was set to begin this month.