Airport revenue bonds

While a traffic turnaround may already be starting, analysts warn it will be a slow and difficult return for the airport sector to pre-pandemic levels.

The bipartisan plan unveiled Tuesday by Senate and House lawmakers includes $160 billion for state and local governments, $82 billion for schools, $15 billion for transit agencies, and $4 billion for airports.

The rating agency cited higher leverage from borrowing plans to fund expansions and renovations and passenger traffic losses from the coronavirus pandemic.

The Kansas City Industrial Development Authority will price more than $600 million of bonds as the replacement of Kansas City International terminals advances.

The airport will sell $925 million in a deal structured to lower short-run debt-service outlays as it manages through the coronavirus-driven air travel decline.

The city's full-court press on investors includes a webinar to replace pre-COVID-19 investor luncheons and one-on-one calls ahead of the $1.24 billion deal.

The $73 million in present value savings over the next three years will help offset the costs of the coronavirus pandemic.

The bonds are pricing in three series on Wednesday and Thursday through senior manager Morgan Stanley.

Both domestic and international travel have been down sharply during the pandemic.

San Francisco International Airport will issue $291 million in refunding bonds amid belt-tightening efforts driven by a massive drop in passengers.

Dallas-Fort Worth International Airport's second major refunding saw results similar to the first, paving the way to a $1.1 billion deal next week.

Fewer fliers due to the coronavirus pandemic sparked a second downgrade to Port Authority of New York and New Jersey-issued bonds sold for Kennedy Airport.

DFW reported present value savings of more than 27% from this week's current refunding of $489.5 million of tax-exempt bonds.

Dallas-Fort Worth International Airport has $875 million of tax-exempt refunding deals coming up and a $`1.1 billion taxable refunding in the wings.

Most consolidated rent-a-car facility debt is structured with solid debt service reserves, a cushion for investors after the coronavirus halted travel.

Denver International Airport plans to apply up to $560 million of existing bond funds to accelerate a gate construction project.

The COVID-19 pandemic got in the way of Salt Lake City International Airport's plans to issue bonds for the second phase of its $4.3 billion expansion.

Theme park and business closures and hospitality industry layoffs will make recovery difficult for Orange County and the Orlando region.

The FAA announcement came several hours before the Treasury Department said it has reached loan and grant agreements with major passenger air carriers.

The rating agency cites the decline of tourism following the worldwide spread of coronavirus.