CHICAGO — Struggling to meet traffic projections for its privately owned airport in Missouri’s Ozark Mountains, Branson Airport LLC has won some breathing room from holders of $113 million of airport bonds under a forbearance agreement that staves off any enforcement actions.

While Branson is current on all debt service payments through the use of bond reserves, its inability to cover its January payment with airport revenues triggered a default event. UMB Bank also used reserves to fully cover debt service last year. Semiannual interest payments total $3.4 million until July 2013, when principal repayment begins.

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