American Airports That Binged on Debt See Travel Slowly Revive

(Bloomberg) — Americans are slowly starting to fly again, which signals a positive turnaround for owners of the more than $120 billion of municipal debt sold by the nation’s airports.


Load Error

Some 5.7 million travelers passed through checkpoints in the week ended Oct. 10, the most since the coronavirus pandemic scuttled air travel and halted tourism, according to the Transportation Security Administration. On Sunday alone, the agency counted more than 980,000 travelers, the most since March 16.

Related: U.S. Airline Traffic Rises 11% From Prior Week, Down 65% YoY

The activity is still significantly lower than before the pandemic reached the U.S. and major carriers are idling thousands of employees as a resurgence in the virus threatens to keep travel depressed this year.

But it marks a welcome turn for airports that borrowed tens of billions of dollars in recent years to build new facilities before the coronavirus sent the economy hurtling into the worst recession in modern history. Airport bonds are typically backed by reserves and a combination of fees from passengers, airlines and rental cars or parking.

graphical user interface, chart: Slow Takeoff

© Bloomberg
Slow Takeoff

Jason Appleson, a portfolio manager at PT Asset Management in Chicago, said muni-bond investors anticipate that air travel will eventually return to normal once coronavirus vaccines are developed and widely distributed. Such optimism has allowed airports to continue to borrow easily despite the financial hit dealt to the industry and the deadlock in Washington over further measures to stoke the economy.

Chicago’s O’Hare International sold more than $1 billion worth of securities in late September and Hawaii’s airport system told $582 million last week. Denver International Airport and Kansas City International Airport are slated to sell a combined $1.5 billion of bonds this week.

“People still need to travel city to city, state to state — I don’t think that will be going away,” Appleson said. “It may not happen in the next six months, but in a year, or two years, things should come back.”

Even so, airport bonds have lagged other municipal securities during the pandemic, with investors anticipating a risk of widespread rating downgrades. They have returned about 1.9% this year, according to Bloomberg Barclays index, less than the 2.9% gain for the broader market.

For more articles like this, please visit us at

©2020 Bloomberg L.P.

Continue Reading

Source Article

Read more

At The Airport − Travel Data − American Airlines

Bus is the preferred transport these days. For info on the My ASU TRIP processes in addition to coaching materials, access the updated travel information or evaluate the following tabs. Planning in your journey early ensures that you’ve enough time to get all of your travel documents in order. Donors who have travelled to places outside of Canada, the continental U.S. and Europe must wait 21 days after their return home earlier than donating blood.

Ø Take plenty of photos and benefit from the people you meet on the road. Garter, WC. & Lime, W.D. (2000) Trends in outdoor recreation, leisure, and tourism Cambridge: CABI Publishing. Hire your bike and spend 2 days just exploring the nearby nationwide park and city.

To be honest, I’ve given up travelling on prolonged holidays. The World Travel & Tourism Council (WTTC) is the forum for enterprise leaders in the Travel & Tourism business, enabling them to talk with one voice to governments and worldwide bodies. If you can get to northern Michigan and get to the island, be ready for the final word automotive-free experience.

The road to the 2 barangays, Pawa and Hulogan detoured from the city’s cemented street into a graveled one. Jet lag can be a curse for individuals who have to travel extensively for his or her work because sleep patterns grow to be disturbed and enterprise conferences or coaching sessions develop into a real take a look at of endurance.

As a part of our week-lengthy journey to Athens, Greece, I opted for a day trip to the island of Hydra. However before you start planning your journey, you might want to be nicely conscious that the times of old have long handed. Accommodations and automotive rental companies provide discounts to travel trade personnel.

Broadway to Brooklyn, Central Park to Chinatown. These are the people who actually know the perfume of the local air and may inform you secrets that you simply might not discover in a tourist guide. (Queen Victoria was apparently a huge fan.) There was much celebrating in Charlottetown that year, however just 5 years later nearly all of the island’s oysters were killed off by disease.…

Read more

American Airways

When Jennifer and Frank Massabki traveled to Mexico in Could 2017, they’d lately gotten engaged and were on the lookout for potential locations to host their marriage ceremony later that year. Travel to one of over 25 areas in paradise, together with the attractive seashores of Cancun, Riviera Maya, Jamaica and Punta Cana, plus idyllic retreats in Costa Rica, Los Cabos, Puerto Vallarta and the Caribbean. Whether you might be reserving for Summer enjoyable or on the lookout for Christmas vacation packages, getting good info, saving cash, and getting the amenities you want are necessary.

I’ve read this put up before, however timely reminders as the summer vacation season approaches. Go to a Barbados barbeque for an ideal value, enjoyable night time out. Had someone start to method me in my car parking zone only a few days in the past at 6:30 AM when it’s nonetheless dark.

After your massage, put together for some fun within the solar at DAYLIGHT Beachclub at Mandalay Bay Resort and Casino. I stay in Sulphur, OK but I travel all over and I believe it’s so humorous that this article mentions the hand on hwy 177, I go it all the time.

I have obtained some ideas how actually you can spend a household vacation at the seaside. Dpinoy13: You will actually love Bicol for those who had an opportunity to go to here one day. I am hoping to do a serious road trip with two youngsters in the next yr or so. I assume I would higher begin planning it.

Along with business enterprises, all of these entities produce vacation theme parks and particular person working farms and villages which can be attention-grabbing and fun to go to. Begin your day at the beautiful St. Paul’s Cathedral earlier than heading out to the Tower of London.

Start the night time off at Bar at Occasions Sq. at New York-New York Hotel & On line casino for the best dueling pianos in Las Vegas. • Fear-free travel – with the vacation package, roundtrip transportation from the airport to your resort can be included within the bundle price.…

Read more