Press Kit

Financing of Airport Improvements

Capital financing for John Wayne Airport’s improvements is generally derived from tax-exempt General Airport Revenue Bonds, FAA grants and other internally generated funds.

JWA Airport Bond Issuance Chronology
Bond Series Purpose Amount
Series 1987 Construction of Terminals A & B, Parking Structure, Runway, Roadway Improvement $242.4M
Series 1993 Partially refunded $68.44M principal amount of Series 1987 Airport Revenue Bonds $79.8M
Series 1997 Refunded $131.49M principal amount of Series 1987 Airport Revenue Bonds $135.1M
Series 2003 Refunded $65.25M outstanding Series 1993 Airport Revenue Refunding Bonds $48.7M
Series 2009 A&B Construction of Terminal C adding 6 gates, Parking Structure C, Central Utility Plant, South RON, Elevated Roadway and CUPPS $233.1M

On July 9, 2009, the Airport issued $233,115,000 in General Airport Revenue Bonds to finance construction of the new Terminal C, Parking Structure C and other capital improvements. Two types of bonds were issued: Series A for governmental purposes and Series B for private activity. The bonds are limited obligations of the County of Orange for which general funds were not pledged. The debt is payable by Airport Net Revenues and Passenger Facility Charge revenues. The true interest yield of these bonds is 5.15%, with the last maturity date of July 1, 2039. As of June 30, 2016, the outstanding principal amount of the 2009A and 2009B Bonds were $59,644,000 and $135,462,000, respectively.

For more information, contact to Deanne Thompson at 949.252.5182 or dthompson@ocair.com.

John Wayne Airport (SNA) is owned by the County of Orange and is operated as a self-supporting enterprise that receives no general fund tax revenue. The Airport serves more than 10 million passengers annually and reaches more than 20 nonstop destinations in the United States, Canada and Mexico. More information can be found at ocair.com. Like us on Facebook.com/johnwayneairport, or follow us on Twitter @johnwayneair and Instagram @johnwayneair.

Last updated: 03/29/17