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 Round Trip    One Way

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Flight# Airline Origin Time Status
4655 Delta Connection DTW
Detroit
9:46am On Time
3483 United Express ORD
Chicago OHare
9:53am On Time
4694 Delta Connection ATL
Atlanta
11:50am On Time
3958 United Express ORD
Chicago OHare
11:57am On Time
4631 Delta Connection DTW
Detroit
1:04pm On Time
400 Allegiant Air LAS
Las Vegas
1:30pm On Time
4992 United Express ORD
Chicago OHare
2:56pm On Time
126 Allegiant Air AZA
Phoenix-Mesa
3:01pm On Time
Flight# Airline Destination Time Status
6274 United Express ORD
Chicago OHare
5:30am On Time
4568 Delta Connection ATL
Atlanta
6:30am On Time
4670 Delta Connection DTW
Detroit
6:55am On Time
4457 Delta Connection MSP
Minneapolis
7:49am On Time
5112 Delta Connection ATL
Atlanta
8:05am On Time
4756 Delta Connection DTW
Detroit
8:20am On Time
4707 Delta Connection DTW
Detroit
10:14am On Time
3483 United Express ORD
Chicago OHare
10:28am On Time

ST. JOSEPH COUNTY AIRPORT AUTHORITY WILL SAVE $1 MILLION IN BOND REFINANCING

 

Wednesday, February 1, 2012

 

SOUTH BEND, Ind — The St. Joseph County Airport Authority will save approximately $1 million over time due to the refinancing of more than $10 million in bonds. Originally issued in 2002 to finance a runway extension and road relocation at South Bend Airport, the bonds previously had an interest rate just over 5 percent. The interest rate to refinance the outstanding $10,750,000 this week is less than 2.9 percent.

The refinancing was accomplished with the help of the Airport Authority’s financial advisor, H. J. Umbaugh & Associates. “The lower interest rate is a reflection of the bond market’s view of the St. Joseph County Airport Authority’s financial and management strength,” said John Julien, a partner with Umbaugh. Revenues from air passenger traffic are used to make the bond payments; local property taxes serve as a back-up if bond obligations are unable to be covered by airport revenues alone. “Air traffic has decreased in recent years due to the economic slow down,” said John Schalliol, Airport Authority Executive Director. “The savings from the refinancing will allow the total bond payment to comfortably fit with the revenues generated by the current level of air passenger traffic.” “By keeping the annual bond payments within the means of revenues generated through passenger traffic, the Airport Authority avoids placing an obligation on local property owners,” said Julien.

“We are proud of the improvements that have been made to the South Bend Airport including our recent terminal expansion project,” said Schalliol. “The Airport has a $433 million annual economic impact on the community, so it is vital that our facilities support the needs of the business community as well as leisure travelers.”

Contact:

John Schalliol

Executive Director
Johns@sbnair.com
Phone: 574-233-2185 x 224

 

About the South Bend Airport

South Bend Airport’s three air carriers provide nonstop flights to nine cities: Atlanta, Chicago, Detroit, Fort Myers/Punta Gorda, Las Vegas, Minneapolis, Orlando/Sanford, Phoenix/Mesa, and Tampa Bay/St. Petersburg with connections world-wide. South Bend Airport’s multi-modal terminal serves over one million air, rail and bus passengers each year. According to the 2012 Economic Impact Report from the Aviation Authority of Indiana, the South Bend Airport's total annual economic impact on South Bend and surrounding communities was in excess of $1.7 billion.


For additional information, please refer to www.flySBN.com or get social with SBN on Facebook (www.facebook.com/FlySBN) and Twitter (@SBNairport) and stay informed about the airport and the carriers that serve the Michiana region.