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Issuer Type: Airport
On behalf of the Metropolitan Nashville Airport Authority, we would like to welcome you to our investor relations website. We appreciate your interest and investment in bonds issued by Nashville International Airport (BNA), as it allows us to make critical investments in public infrastructure throughout BNA. We are committed to maintaining our strong bond ratings, and we are also committed to being transparent with the investor community and public at large.
We hope you find this website useful as you seek to better understand the credit fundamentals of BNA. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.
Margaret M. Basrai, CPA, CGMA, C.M., Vice President & Chief Financial Officer
Pandemic Slowed Travel, But Progress Made for BNA® Vision, JWN® and Other Areas
*Watch a Year-In-Review video here: https://youtu.be/eJDJClwHlqg
NASHVILLE – With the close of the calendar year, Nashville International Airport took stock of the previous 12 months: Not surprisingly, the COVID-19 pandemic dramatically impacted air travel, especially in the spring, but BNA® achieved significant milestones in other areas, including an ambitious program for John C. Tune Airport®, and is poised to lead a robust economic recovery in the months and years ahead.
BNA passenger numbers for 2020 began with the busiest January and February on record, but quickly dropped as the economy slowed and air travel plummeted in mid-March and throughout April. Passenger traffic has steadily increased since then, and for the year some 8,284,570 passengers moved in and out of BNA, down 54.7 percent from 2019, when the airport set its seventh consecutive year of record-breaking growth with 18,273,434. That said, air travel has increased steadily throughout the year, from 62,533 total passengers in April to 729,293 in December.
The pandemic was not the year’s only challenge. John C. Tune Airport, BNA’s reliever airport in west Nashville, was devastated by the March 3, 2020, tornado, with more than 90 aircraft, 17 hangars and other airport infrastructure destroyed in the storm. Thanks to around-the-clock effort, flights were soon restored. Since then, JWN, as it is also known, has started an ambitious transformation: construction began on a new air traffic control tower, a major overall redevelopment plan was approved and a new executive director was named.
In response to the pandemic itself, the airport reinforced and enhanced its cleaning and sanitizing protocols, launched a public awareness campaign about CDC best practices, began distributing free face coverings, increased the number of hand sanitizer stations and installed plastic shields at airline counters. And more technology advances have been incorporated or are on the way, including touchless elevator panels and germ-killing UV lighting for escalators and HUVC air-handling systems. “Be Safe. Be Healthy. Be Nashville” emerged as BNA’s message to reassure travelers of the precautions taken at the terminal.
Meanwhile, staying focused on future needs, progress continued on schedule for _BNA® Vision, _the airport’s $1.4 billion expansion and renovation program designed to meet the region’s projected air travel demand in the years ahead.
The past year also saw the release of BNA’s updated economic impact study that analyzed the airport’s regional effects for 2019, which exceeded $8 billion—a 14 percent increase over 2018 and an increase of 131 percent since a similar 2012 study. Additionally, more than 76,000 area jobs and $3.2 billion in personal income were supported by activity at BNA in 2019. That same activity resulted in $6.8 billion in business revenue and produced more than $464 million of tax dollars for state, local and federal coffers. As pointed out in the study, BNA receives no local tax dollars.
“With challenges come opportunities,” said Doug Kreulen, BNA president and CEO. “I’m enormously proud of how our team responded to the pandemic. From enhancing our cleaning program to adding the latest in sanitizing technology and more, we have focused on keeping our passengers safe and the airport operational. Once COVID wanes, we fully expect BNA to help lead the economic recovery for Middle Tennessee and beyond. “
BNA® Vision and other 2020 milestones:
About Nashville International Airport®
With nearly 18.3 million passengers in 2019, Nashville International Airport has been one of the fastest growing airports in North America. According to a recent study, in 2019 alone, BNA® generated more than $8.1 billion in total economic impact, supported more than 76,000 jobs in the region and produced more than $443 million in state, local and federal taxes. BNA receives no local tax dollars. For more information, visit flynashville.com. Follow us on Facebook: @NashvilleInternationalAirport, Twitter: @Fly_Nashville and Instagram: @FlyNashville. Learn more about BNA® Vision, our growth and expansion plan for the airport, at BNAVision.com.
NASHVILLE INTERNATIONAL AIRPORT®, BNA®_, COMMANDER BERRY FIELD®, JOHN C. TUNE AIRPORT®, and JWN®, among others, are the registered trademarks and trademarks of The Metropolitan Nashville Airport Authority (“MNAA”). Use of these trademarks without permission from MNAA is strictly prohibited._
NASHVILLE, Tennessee – The Chief Financial Officer of the Metropolitan Nashville Airport Authority (MNAA), Marge Basrai, has been selected as one of The Bond Buyer’s “2020 Trailblazing Women in Finance” for her outstanding commitment to public finance and contributions made to the public sector. She is one of just six public sector finance professionals recognized nationwide for the award.
“Marge Basrai is a passionate leader and financial expert of incalculable value to our organization,” said Doug Kreulen, president and CEO of MNAA. “Her expertise in airport financing and the bond market are evident by the strength of both Nashville International Airport® and John C. Tune Airport®. I appreciate her talent and I cannot think of anyone more deserving of this recognition. She is, simply, one of the best in her field and I am proud to work with her.”
The Bond Buyer provides news, analysis and data for the entire municipal finance community through its website, e-newsletters and alerts, and a daily print edition.
Ms. Basrai, CPA, CGMA, CM, is a key member of the MNAA executive leadership team and is responsible for planning, organizing and directing the multi-faceted financial and fiscal management functions of both Nashville International Airport and John C. Tune Airport. Areas of responsibility include financial planning and analysis, budgeting and accounting, financial investment, debt management, grant financial administration, purchasing, and oversight of rates and charges. Other responsibilities include overseeing the implementation of improved systems, methods and procedures related to MNAA’s financial matters.
Ms. Basrai has 20 years of accounting and financial management service in the aviation industry. Previously, she served as vice president and controller for Wayne County Airport Authority, which operates Detroit Metropolitan Airport, Willow Run Airport and its airport hotel. She is a Certified Public Accountant, Charted Global Management Accountant and a Certified Member of the American Association of Airport Executives. Ms. Basrai holds a BS in accounting and an MBA, both from Michigan State University.
About Nashville International Airport
With nearly 18.3 million passengers in 2019, Nashville International Airport has been one of the fastest growing airports in North America. According to a recent study, in 2019 alone, BNA® generated more than $8.1 billion in total economic impact, supported more than 76,000 jobs in the region, and produced more than $443 million in state, local and federal taxes. BNA receives no local tax dollars. For more information, visit flynashville.com. Follow us on Facebook: @NashvilleInternationalAirport, Twitter: @Fly_Nashville and Instagram: @FlyNashville. Learn more about BNA® Vision, our growth and expansion plan for the airport, at BNAVision.com.