airport revenue bond

Airport Revenue Bond

A municipal bond used to construct or expand an airport. The bond is secured by the revenue the airport receives in the course of its operations, or by the revenue from lease payments made by a particular airline. In either case, the issuing municipality does not back the bond itself. Generally speaking, an airport revenue bond is riskier than other municipal bonds because airports have no power to tax, and thus a sudden fall in revenue may result in an inability to repay the bond.

airport revenue bond

Tax-exempt debt issued by a city, county, state, or airport authority with debt service guaranteed either by general revenues generated by the airport or by lease payments for facilities used by a particular airline. A second type of airport revenue bond depends on the financial strength of a private company and may be more risky than a bond guaranteed by an airport's general revenues.

References in periodicals archive ?

The project is being funded by LAX's operating revenues, fees from airlines, passenger facility charges and airport revenue bond proceeds.

Work starts on modernisation of LAX's Tom Bradley International Terminal

qualified underwriting businesses ("respondents") to submit responses to serve as underwriter for the sale of airport revenue bonds and related services for the authority.

Provide Bond Underwriting Services

The remaining costs were covered by proceeds from airport revenue bonds.

New rescue and firefighting facility dedicated at LAX

15 April 2010 - S&P on Wednesday changed to "positive" from "stable" its outlook on Portland, Maine's series 2003 and 2008 general airport revenue bonds outstanding, issued for the Portland International Jetport.

S&P raises Portland's 2003, 2008 airport rev bond outlook to "positive"

Chicago's O'Hare Airport is looking to use passenger facility charge revenue to help plug a funding shortfall in its expansion plan after airlines objected to issuing more general airport revenue bonds, a city official said on Wednesday.

Airport News - North America

ACI-NA's figures in contrast take in AIP-eligible projects funded from other sources, including airport revenue bonds and proceeds from the collection of Passenger Facility Charges (PFCs).

$14.3 billion annual capital spend

Although Fitch has not yet downgraded United airport bonds, the rating agency did place airport revenue bonds issued for San Francisco International Airport on rating watch negative.

United bankruptcy could lead to ratings downgrade. (News Briefs)

73 million first-lien airport revenue bonds at 'AA+';

Fitch Rates Chicago O'Hare Airport, IL's 3rd-Lien Revs 'A-'; Outlook Stable

The local match portion of the grants will be from existing voter-approved Airport revenue bonds for the apron construction.

N. Aircraft Apron Ph2

The series 2007 will be issued on parity with the airport's outstanding airport revenue bonds, which are also affirmed at 'A-' rating with a Stable Outlook.

Fitch Ratings assigns rating for Albany County Airport Authority's airport revenue refunding bonds

NEW YORK -- Fitch Ratings has published a report on Albany County Airport Authority, NY's 2010 airport revenue bonds.

Fitch Releases Report on Albany County Airport Authority, NY's 2010 Airport Revs

Fitch Ratings has affirmed the underlying 'A' rating on the State of Connecticut's general airport revenue bonds.