Passengers, Flights Up a Bit at John Wayne
Passengers and flights at John Wayne Airport are inching closer to normal but remain 10% below levels for this time last year, with parking revenue sliced by the same amount, according to an analysis to be presented today to county supervisors.
Security costs were up $1.3 million since the September terrorist attacks, according to the report, prepared before Congress voted to federalize most baggage and passenger screening employees. President Bush signed the bill Monday.
The Board of Supervisors has been debating whether John Wayne’s shaky bottom line justifies restricting or ending the use of reserves to cover the costs of planning an airport at the closed El Toro Marine base.
Wall Street analysts also are reviewing the airport’s ability to meet a repayment schedule for $300 million in bonds sold in 1990.
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