Year after year, John Wayne Airport’s financial stability continues to impress analysts, the Orange County Board of Supervisors and other public stakeholders. Our conservative financial policies—plus strong reserves and bond ratings—demonstrate our commitment to maintaining first-class fiscal responsibility and solid stewardship.
We successfully refunded the Series 2009 Airport Revenue Bonds by partial pay-down of 2009 Bonds, reducing the bond issuance of the Series 2019 Airport Refunding Bonds to $85 million. The refund resulted in producing cash flow savings of $81.5 million, approximately $38.1 million in net present value savings, and shortened the final bond maturity from 2039 to 2030.
By executing a thoughtful strategic planning process, we enabled our executive team to identify strategic objectives and prioritized goals, which serve as decision-making guideposts.
Identifying talent needs is an important aspect of running an efficient airport. This year, we improved the process of evaluating talent needs Airport-wide through executive team discussions, crafting a position evaluation review document, and creating a position matrix for transparent executive team review and evaluation.
We will submit for Board consideration two full-service and one limited-service Fixed Base Operators to redevelop the General Aviation Improvement Program at JWA, in 2020.
The Airport will complete four revenue lease audits to ensure gross receipts are complete and fees are properly paid as defined by the lease agreements.
We will research and draft a unique Airport internship program, to expand knowledge transfer to the next generation of leaders.
