KONT PANDEMIC RECOVERY PROMPTS HEALTHY FINANCIAL OUTLOOK

The Ontario International Airport (ONT) has exceeded the S&P Global Ratings pandemic recovery estimates with positive enplanement trends helping the ONT Authority (OIAA) to receive a strong financial outlook. Enplanements from July through September of this year were between 92-97 percent of pre-pandemic levels. The OIAA will retain its long-term investment-grade rating of A-minus and the S&P Global Ratings raised the OIAA’s outstanding revenue bonds to positive.

The City of Ontario and County of San Bernardino came together as the OIAA in 2012 to provide overall direction for ONT. The positive outlook and credit rating for OIAA are the result of increased passenger volumes along with ONT’s ability to access federal stimulus grants, strong management, and the airport’s role as a cargo hub. According to the OIAA, nonstop routes from ONT have recently increased to 25 and the airport has continued to modernize facilities in anticipation of a full return to normal operations next year. The airport said passenger traffic more than doubled in October of this year to 98 percent of pre-pandemic levels.