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Classified in: Transportation, Covid-19 virus
Subjects: Product/Service, Economic News/Analysis

KBRA Releases Research ? 2024 Public Finance Sector Outlook: U.S. Airports Navigate Strong Post-Pandemic Landing

KBRA releases its 2024 Public Finance Sector Outlook with a special focus on the U.S. airport sector.

KBRA believes the U.S. airport sector has successfully weathered the COVID-19 pandemic and the accompanying sharp decrease in passenger activity that began in March 2020. The combination of generally robust pre-pandemic balance sheet resources, federal recovery payments together with expenditure reductions, as well as support of airlines/concessionaires all contributed to financial stability. Also crucial were cost recovery mechanisms embedded in airline use and lease agreements that ensured coverage of debt service requirements. Significant federal aid (~$18.5 billion) was provided to airport operators as economic assistance to prevent, prepare for, and respond to the pandemic and to offset the loss of revenues.

Key Takeaways

Click here to view the report.

About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA's ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

Doc ID: 1002801

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