Jay Leno enlisted as a pitchman for Burbank airport bonds

Bloomberg News

Jay Leno's latest hosting gig involves a classic car, an airport construction site and municipal bonds.

Clad in denim and sitting behind the wheel of a 1930 Duesenberg, the renowned TV personality and car enthusiast promoted an upcoming municipal bond deal in a video for Hollywood Burbank Airport — giving a twist to the typically-staid marketing roadshow for potential investors. 

The Burbank-Glendale-Pasadena Airport Authority enlisted Leno to help sell some $379 million in airport revenue bonds to finance its terminal relocation project. The new 355,000 square-foot terminal is scheduled to open in October, replacing a terminal with pre-World War II origins. 

Leno's car collection is housed in a hangar next to the Burbank facility, making him a "friend of the airport" and natural choice for a pitchman, John Hatanaka, the airport's executive director, said in an interview. 

Located less than 15 miles from downtown Los Angeles, the airport sits at the center of the "Valley of the Stars," a long-standing hub for film and television production. The surrounding area is home to a population of Hollywood employees who work at major studios and networks, including The Walt Disney Company, Nickelodeon, Netflix and NBCUniversal.

The airport broke ground in 2024 to construct the new terminal. Hatanaka said a big driver for making the marketing video — which was filmed at the construction site — was to showcase the progress they've made in building the terminal. 

In the clip, Leno, 75, said Burbank is "an oasis" in the middle of Los Angeles, which he called a "crazy city with homelessness and crime and taxes." 

"This is being built by a union crew on time and on budget. When does that ever happen?" Leno asks. 

The video does include a disclaimer that the views are for information purposes, and do not constitute investment advice.

Earlier this month, Fitch Ratings affirmed the airport authority's A-minus rating and stable outlook, citing "BUR's secondary position in the large, strong and affluent, but competitive Los Angeles basin service area." The rating agency said growth at the airport has stemmed from airlines expanding routes and increasing capacity.

Ahead of the deal, Moody's Ratings affirmed its A2 rating and stable outlook, and S&P Global Ratings affirmed its A rating and stable outlook.

The terminal relocation project is expected to cost $1.3 billion, bond documents say. 

Bank of America Corp. is the lead underwriter on the bond offering. The bank declined to comment.

While the deal is expected to price on May 5, Hatanaka said it could come a few days sooner due to market conditions.  

"The geopolitical situations are high right now so we're watching with our banks as to what the best timing might be," he said.