STAYING Financially SOUND
Throughout the pandemic, JWA has benefited from our long history of careful stewardship and conservative fiscal practices. Together, our cash reserves, early bond repayment and low debt help us maintain our low cost of enplanement, which makes us highly attractive to airlines. That’s good for us, good for them, and great for the traveling public.
TAKING ADVANTAGE OF AVAILABLE RELIEF FUNDS
In 2020, the U.S. government implemented the Coronavirus Aid, Relief and Economic Security Act (CARES Act) airport grant program. In 2021 we expedited the application, approval and claiming of additional and applicable FAA and TSA grant funds to preserve our cash position. JWA applied grant funds to targeted expenses to stabilize tenants’ rates and charges, and to assuage their concerns.
OUR TOP-NOTCH FINANCIAL RATINGS JUST GOT BETTER
S&P Global Ratings raised its long-term rating of the County of Orange, California Airport Revenue Refunding Bonds to ‘AA-‘ from ‘A+’.
“YEARS OF SMART FISCAL stewardship AND CONSERVATIVE preparation PAY OFF.”
MORE FINANCIAL STEWARDSHIP AHEAD
Going forward, we’ll continue our legacy of prudent stewardship of financial resources by continually evaluating processes to improve efficiency; pursuing and utilizing grants, passenger facility charges, and other resources to optimize funding of eligible capital projects and expenditures; and updating revenue structures as applicable, and assessing cost/benefit of new revenue concepts and trends.