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Metropolitan Nashville Airport Authority

Issuer Type: Airport

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Margaret M. Basrai, CPA, CGMA, C.M.

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., Executive Vice President and Chief Financial Officer

News & Highlights

April 7, 2021

News
Airport Authority Completes Leadership Team with Promotions

NASHVILLE – Setting the stage for future growth and expansion, the Metropolitan Nashville Airport Authority (MNAA) announces the following promotions within its leadership team:

Mr. Robert Ramsey: Executive Vice President and Chief Operating Officer (COO)

Robert Ramsey was promoted to Executive Vice President (EVP) along with his title of Chief Operating Officer (COO). In this position, Mr. Ramsey assumes the additional responsibility of overseeing the Information Technology department as well as leading the Operations, Facilities Maintenance, Public Safety, Engineering, Environmental Management, Safety, and Strategic Planning and Sustainability programs at both the Nashville International Airport® and the John C. Tune Airport®.

“Robert Ramsey has a proven record of superior performance at both of our airports,” said Doug Kreulen, president and CEO of MNAA. “From Engineering Manager to Director of Design, then Chief Engineer, and now the COO, Robert has the experience and leadership talents necessary to ensure we continue to meet Nashville’s and Middle Tennessee’s growing demands for commercial, corporate and the general aviation services today and into the future.”

Mr. Ramsey joined the Airport Authority in 2003 and he was instrumental in launching the BNA® Vision, MNAA’s expansion and renovation plan for Nashville International Airport. He served eight years in the United States Air Force as an officer in multiple squadron leadership roles. A graduate of the University of Missouri and the Virginia Military Institute, Ramsey is a Professional Engineer (PE), an Accredited Airport Executive (A.A.E) and an International Airport Professional (IAP).

Ms. Traci Holton: Vice President of Engineering and Deputy Chief Operating Officer

Traci Holton has been promoted to Vice President of Engineering and Deputy Chief Operating Officer for her successful hands-on management of the Engineering department and her leadership role as Chief Engineer, directing the $1.4 billion BNA® Vision expansion of Nashville International Airport.

“Traci Holton is an outstanding leader. She has demonstrated extraordinary skill directing the many construction and design projects at both Nashville International Airport® and John C. Tune Airport®,” said Doug Kreulen, president and CEO of MNAA. “She brings a level of expertise and focus on airport projects that we embrace and rely upon throughout our organization, and her increased role gives us added assurance as we continue to expand BNA® and redevelop JWN®.”

Ms. Holton joined MNAA in 2003 and most recently served as assistant vice president of development and engineering. Before joining the Airport Authority, Ms. Holton worked as a transportation engineer for a local consulting firm, where she designed and managed roadway projects throughout the state of Tennessee. She also has experience in bridge design, environmental permitting and site development.

She is a licensed Professional Engineer in Tennessee and is a member of the National Society of Professional Engineers, Tennessee Section; American Society of Civil Engineers, Tennessee Section, Nashville Branch; and the American Association of Airport Executives. In 2020, she was named Government Engineer of the Year by the Tennessee Society of Professional Engineers’ Nashville Chapter. Her education includes a Bachelor of Science Degree in Civil Engineering from Tennessee Technological University and a Master of Science in Engineering Management from Lipscomb University.

Ms. Kristen Deuben: Vice President of Finance and Deputy Chief Financial Officer

Kristen Deuben was promoted to Vice President of Finance and Deputy Chief Financial Officer for her exceptional management and execution of the budgeting function and other accounting-related operations with the airport’s Finance Department. Ms. Deuben previously served as assistant vice president of finance. In her new role she oversees Accounting, Financial Planning & Analysis, Risk Management and Treasury.

“Managing the budget process and all that entails has been critical at MNAA, especially as we navigate the effects of the pandemic,” said Doug Kreulen, president and CEO of MNAA. “Kristen Deuben’s in-depth financial analysis has greatly assisted our efforts to remain a low-cost airport, which allows us to continue attracting greater air service options for business and leisure travelers in Middle Tennessee. I’m very confident that, under her leadership, we will continue to grow for many years to come.”

Ms. Deuben joined MNAA in 2018 and has more than 10 years of accounting and financial management experience in the aviation industry. She previously served as assistant controller for the Wayne County Airport Authority, which operates Detroit Metropolitan Airport, Willow Run Airport and its airport hotel. She is a Certified Public Accountant (CPA) and earned a Bachelor of Science in Accounting from University of Detroit Mercy.

Mr. KC Hampton: Assistant Vice President of Information Technology

KC Hampton was promoted to Assistant Vice President of Information Technology for both his leadership and technical expertise in managing the complex IT needs of the Airport Authority. In this position, Mr. Hampton will manage strategic and day-to-day activities of the IT Department to ensure effective and efficient planning, delivery and security of enterprise systems and technologies for both Nashville International and John C. Tune airports.

“KC Hampton has the proven skills and experience needed at the airport as we embark on a new era of growth and expansion,” said Doug Kreulen, president and CEO of MNAA. “A strong IT department is critical to our needs and his elevation to lead this effort is welcome across the organization.”

Mr. Hampton officially joined MNAA in in 2019. Before joining the team at MNAA, Mr. Hampton worked as an IT professional in the healthcare sector for 22 years. In the early days of his career, he worked as a network system engineer to design and build a nationwide network in support of real-time processing of healthcare claims, lab results and pharmaceutical transactions. In Mr. Hampton’s more recent career, he has managed a diverse set of teams from IT support and operations to large IT planning and engineer teams.

MNAA was established in 1970 and owns and operates Nashville International Airport and John C. Tune Airport.

About Nashville International Airport®

Until the impacts of the COVID-19 pandemic, BNA® was one of the fastest growing airports in North America, with nearly 18.3 million passengers in 2019. 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 expansion and renovation plan for the airport, at BNAVision.com.

NASHVILLE INTERNATIONAL AIRPORT®, 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.

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March 31, 2021

News
Airport Authority Adds Top Lawyer, Elevates Key Executive Staff

NASHVILLE – As passenger traffic increases and airport operations expand, the Metropolitan Nashville Airport Authority (MNAA) announces its newest executive team member and additional leadership promotions.

Mr. Neale R. Bedrock: Executive Vice President, General Counsel and Chief Compliance Officer

Neale R. Bedrock has joined the MNAA leadership team as its new executive vice president, general counsel and chief compliance officer.

Mr. Bedrock brings extensive experience delivering legal, compliance and business solutions on both domestic and international matters—most recently at The Hertz Corporation, where his duties included negotiating agreements with many of the top 100 airports in North America over the past 15 years.

“Hundreds of outstanding attorneys from around the country vied for this position and the opportunity to be a part of Nashville International Airport’s historic growth,” said Candice Reed, executive vice president and partner of Latitude Tennessee, which led the nationwide search to fill the position. “Doug Kreulen [MNAA’s president and CEO] had a clear vision of the skills, judgment and in-house counsel experience needed for this role, and Neale Bedrock stood out among a highly impressive and diverse field of candidates.”

In addition to his work at The Hertz Corporation, Mr. Bedrock has also served as a Municipal Court Judge in the Borough of Waldwick, New Jersey. Previously, he was an attorney at Lowenstein Sandler in New Jersey and served as counsel to the New Jersey Board of Public Utilities.

“Both the Board of Commissioners and I were impressed by Neale’s broad range of legal and regulatory experience. His talents will enhance the Airport Authority’s performance while also ensuring our compliance with local, state and federal requirements” said Doug Kreulen, MNAA president and CEO.

Mr. Bedrock has long been active in the communities in which he worked.  He served nine years as a trustee on the Waldwick Board of Education, including two years as president.  He served 10 years on the board of the Northern Counties Soccer Association, including two years as president, and four years as chairman of the Waldwick Zoning Board and seven years as board attorney.

Mr. Bedrock has a juris doctor degree from Pace University School of Law, New York, and a B.S. in chemical engineering from the New Jersey Institute of Technology, New Jersey.

Ms. Marge Basrai: Executive Vice President and Chief Financial Officer (CFO)

Ms. Marge Basrai was promoted to executive vice president for her superior performance as the CFO and for her willingness to take on the additional responsibility of overseeing the commercial development department at MNAA.

“Marge Basrai has demonstrated extraordinary competence and dexterity in managing the often-complex finances at BNA,” said Doug Kreulen, president and CEO of MNAA. “Taking on this expanded portfolio will enhance the effectiveness and efficiency of our executive management team.”

Ms. Basrai joined MNAA’s executive team in 2018 as vice president and CFO. As CFO she is responsible for planning, organizing and directing the multi-faceted financial and fiscal management functions of Nashville International and John C. Tune airports, including financial planning and analysis, budgeting and accounting, financial investment, debt management, grant financial administration, insurance and risk management and oversight of rates and charges. In her new role as executive vice president, she will also oversee commercial development for MNAA, which includes land development, properties management, airline affairs, air service development, concessions, parking, ground transportation and brand experience.

Ms. Basrai has 20 years of accounting and financial management experience in the aviation industry and previously served as vice president and controller for the Wayne County Airport Authority, which operates Detroit Metropolitan Airport, Willow Run Airport and its airport hotel.

She is a Certified Public Accountant (CPA), Chartered Global Management Accountant (CGMA) and a Certified Member (C.M.) of the American Association of Airport Executives. Ms. Basrai earned a Bachelor of Science in accounting and an MBA from Michigan State University.

Ms. Davita Taylor:  Vice President of Procurement and Business Diversity

Ms. Davita Taylor was promoted to vice president of procurement and business diversity for MNAA. In this position she is a member of the executive leadership team charged with overseeing the procurement of all goods and services for the Nashville International Airport®, the John C. Tune Airport® and the MNAA Properties Corporation, as well as leading the Authority’s Office of Business Diversity Development. Under her guidance and leadership, the airport’s expansion and renovation program, known as “BNA® Vision,” is expected to contract for more than $300 million in goods and services with small, minority and woman-owned business enterprises (SMWBEs) by the end of 2023.

“Davita Taylor is an exceptional leader with a great variety of real-world experience, extensive business relationships, and a trusted advisor,” said Doug Kreulen, president and CEO of MNAA. “She has always been a leader at the airport, and we will rely on her even more now to guide our procurement process and outreach efforts into all parts of the community.”

Ms. Taylor joined MNAA in 2008 and has spent most of her professional career in public administration, contracting and the development of the small, minority and woman-owned business community. At the airport, her roles over time have spanned the likes of special assistant, finance officer, manager, director, chief of staff and chief procurement officer.

A Tennessee native and graduate of Middle Tennessee State University and Austin Peay State University, Taylor’s influence extends far beyond the airport terminal. She is a Certified Member of American Association of Airport Executives, a certified Master Compliance Administrator, Certified Public Procurement Officer and a member of the National Institute of Governmental Purchasing and past president of the Middle Tennessee Public Purchasing Association. Taylor is also involved with the Boys and Girls Club of Rutherford County, Nashville Minority Business Center, Nashville Black Chamber of Commerce, Tennessee Latin American Chamber of Commerce, Salvation Army (Women’s Auxiliary) and CABLE, among others.

MNAA was established in 1970 and owns and operates Nashville International Airport and John C. Tune Airport.

About Nashville International Airport®
Until the impacts of the COVID-19 pandemic, BNA® was one of the fastest growing airports in North America, with nearly 18.3 million passengers in 2019. 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®, 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.

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January 15, 2021

News
2020: A Year in Review for Nashville International Airport®

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:

  • Opened the new Concourse D, adding six gates and a variety of customer amenities and which has also received prestigious LEED Sliver certification
  • Opened expanded ticket wings, each with a new security checkpoint
  • Opened a second, state-of-the art terminal garage and improved Valet Center
  • Announced a Hilton-branded on-airport hotel, scheduled to open in late 2023
  • Began full reconstruction of one of four runways per FAA standards
  • Continued progress on the terminal lobby and international arrivals facility
  • Awarded contract for terminal access roadways major improvement project
  • Launched an updated website (flynashville.com)
  • Launched the BNA Shop, which offers BNA-branded merchandise
  • Announced 31 new airline routes

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._

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