SYRACUSE -- Cheaper airfares could soon be coming to Syracuse.

On Thursday, Governor Andrew Cuomo signed a law to create an airport authority at Hancock Airport.

"This new entity will allow the airport to function more like a business and find ways to operate more efficiently," said State Senator John DeFrancisco in a press release. "The savings realized from a more efficiently run operation will be passed on to the consumer in the form of lower air fares."

The airport authority will bring additional carriers to Central New York and expand services to other cities, said DeFrancisco.

The airport authority will have the power to issue up to $200 million in bonds. New York State, Onondaga County, and the City of Syracuse will not be responsible for the authority bonds.

An 11-member Syracuse Regional Airport Authority will be appointed.

Here is a list of the seven appointments from Syracuse Mayor Stephanie Miner:

-Beth Rougeux, Director of Administration - City of Syracuse (term expires Dec. 31, 2016).

-Patrick Mannion, Vice Chairman - Columbian Mutual Life Insurance Board; Former President and CEO - Unity Mutual Life Insurance Company (term expires Dec. 31, 2014).

-Eleanor Ware, Retired, Former Senior Vice President for Human Services and Government Relations - Syracuse University (term expires Dec. 31, 2016).

-Judy Flanagan, President - Data Key Communications (term expires Dec. 31, 2015).

-Khalid Bey, Common Council Candidate - City of Syracuse Fourth District (term expires Dec. 31, 2014).

-John B. Johnson, Jr., Chairman and CEO - Johnson Newspaper Corp., Watertown (term expires Dec. 31, 2015).

-Don Thompson, Former Director of Personnel and Labor Relations - City of Syracuse (term expires Dec. 31, 2016).

Onondaga County Executive Joanne M. Mahoney appointed Deputy County Executive Bill Fisher (term expires Dec. 31, 2014).

The East Syracuse Minoa School Board appointed Superintendent Dr. Donna DeSiato (term expires Dec. 31, 2016).

The Town of Cicero has appointed former Syracuse City School District Superintendent Dr. Robert E. DiFlorio of Brewerton (term expires Dec. 31, 2013).

The DeWitt Town Board has not released who it will appoint.

Click here for previous coverage on the effort to bring an airport authority to Syracuse.