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Recent News

Updated Mar 28, 2026

SJC remains unaffected by TSA delays and ICE deployments during government shutdown

San José Mineta International Airport has not received any notification of ICE agents being deployed to the facility, and operations and wait times remain normal during the partial government shutdown. Airport spokesperson confirmed travelers at SJC have experienced calm conditions while other major U.S. airports face significant delays and federal immigration agent deployments.

San José Spotlight·Mar 27, 2026

SJC deploys AI humanoid robot 'José' to assist travelers in Terminal B

San José Mineta International Airport launched an AI-powered humanoid robot named 'José' on March 24, 2026, developed by local startup IntBot. The robot provides real-time information in 50+ languages, assists with wayfinding, and operates as part of a four-month pilot to enhance customer service ahead of major sporting events in the Bay Area.

PR Newswire·Mar 24, 2026

SJC hosts major sports events as gateway to Bay Area venues in 2026

San José Mineta International Airport is positioning itself as the convenient gateway for 2026 Bay Area sporting events, including NCAA Men's West Regional games at SAP Center (March 26-28, 2026) and international soccer events. The airport emphasizes its proximity to major venues with no bridge traffic or freeway congestion.

San José Mineta International Airport·Mar 1, 2026

Airport Profile

Bond TypeGARB

Rate MethodologyHybrid Residual

AUA StatusActive

Agreement Period2019-01-01 – 2029-12-31

Key Financial Data (FY 2025)

CPE$21.57

Signatory Landing Fee$5.1300

Enplanements5,680,778

Total Operating Revenue$251.1M

Total Operating Expense$195.1M

Operating Income$56.0M

Total Debt$1.0B

Rate Covenant1.25x

Unrestricted Cash$310.3M

Landed Weight (1000 lbs)7,086,344,000

Enplaned Passengers (FAA CATS)

5.7M-4.7%

Route data →

Cost per Enplanement (CPE)

$21.57+19.0%

Revenue

$251.1M+8.0%

Expense

$195.1M+10.3%

Ratemaking Overview

Overall MethodologyHybrid Residual

Ratesetting Typeagreement

Cost Center StructureAirfield, Terminal, and Airline-Supported Areas

Revenue SharingNo revenue sharing provisions

Capital RecoveryAirport system bonds and user fees

Settlement & True-Up

Annual true-up of actual costs versus estimates

Extraordinary Coverage Protection (ECP)

ECP TypeStrong/Traditional

Not available

Landing Fee Methodology

MethodologyResidual

Landing fees per Maximum Gross Landed Weight

Terminal Rental Rate

Rate DivisorRentable square footage

Terminal rent based on space allocation

Common Use & Gate Allocation

Common Use GatesYes

Common Use BaggageYes

Additional Bonds Test

Additional Bonds may be issued for refunding (if Annual Debt Service on new bonds ≤ Annual Debt Service on refunded bonds), for completion of projects (up to 15% of prior series), or for other airport purposes if either: (i) Historical Test: Net General Airport Revenues plus Other Available Funds for most recent fiscal year or other 12-month period ≥ 125% of Maximum Annual Debt Service after new bonds issued; or (ii) Projected Test: Consultant report showing estimated Net General Airport Revenues plus Other Available Funds ≥ 125% of Annual Debt Service for next 5 years or 3 years following project completion. Both require Net Revenues plus Other Available Funds (excluding Rolling Coverage Amount) ≥ 100% of Maximum Annual Debt Service.

Rate Covenant

Covenant Ratio1.25x

The City covenants to manage operations and establish rates so that (i) Net General Airport Revenues plus Other Available Funds equals at least 125% of Annual Debt Service for each fiscal year, and (ii) Net General Airport Revenues plus Other Available Funds (excluding Rolling Coverage Amount and non-cash amounts unless budgeted) equals at least 100% of Annual Debt Service. Annual Debt Service is Debt Service for the fiscal year less Available PFC Revenues.

Flow of Funds

General Airport Revenues deposited in General Revenue Fund. First priority: Maintenance and Operation Costs. Second: Interest on Bonds. Third: Principal on Bonds. Fourth: Bond Reserve Fund (maintain Required Reserve in each account). Fifth: Surplus Revenue Fund, allocated in order to: (1) Subordinated Debt Account, (2) Rate Stabilization Fund, (3) Renewal and Replacement Account. Amounts remaining in Surplus Revenue Fund after required deposits may be released for any lawful Airport purpose.

1.Maintenance and Operation Fund — Monthly deposit of 1/12 of budgeted M&O Costs or amount necessary to pay M&O Costs. Used to pay Maintenance and Operation Costs of the Enterprise as they become due.

2.Interest Fund — On or before second Business Day before each Payment Date, deposit amount necessary to pay interest on Outstanding Bonds. Amounts used solely to pay interest on applicable series of Bonds as it becomes due.

3.Principal Fund — On or before second Business Day before each Payment Date, deposit amount necessary to pay principal on Outstanding Bonds. Amounts used solely to pay Principal Installments, Guaranteed Obligation Requirements, and purchase price of Bonds.

4.Bond Reserve Fund — Monthly deposit to maintain balance equal to Required Reserve for each account. May divide replenishment into up to 12 monthly installments. Used to pay principal and interest on Bonds if no other moneys available, or for payment/redemption of all such Bonds outstanding.

5.Surplus Revenue Fund — On 15th day of each month, deposit remaining moneys from General Revenue Fund (minimum equal to lesser of Subordinated Debt Account requirement or amount remaining in General Revenue Fund). Allocated to sub-accounts in priority order.

6.Subordinated Debt Account (within Surplus Revenue Fund) — Monthly deposit until amount equals debt service on Subordinate Obligations due prior to next scheduled deposit.

7.Rate Stabilization Fund (within Surplus Revenue Fund) — Accumulated from Allocated General Airport Revenues. Used to facilitate revenue sharing or rate stabilization provisions of airline agreements. Can be withdrawn for deposit into M&O Fund, Interest Fund, or Principal Fund.

8.Renewal and Replacement Account (within Surplus Revenue Fund) — Monthly deposit until budgeted amount for fiscal year is deposited. Withdrawn by City and deposited in Airport Renewal and Replacement Fund as directed by Council resolution.

Source Documents

Official Statements

+1 more

Financial Statements

Airport ACFR FY25 11.12.25_0.pdf

Annual Comprehensive Financial Report 2024.pdf

FY 12-12 Annual CFC Report and FY 11-12 Citywide Single Audit.pdf

FY 13-14 Annual Report to Senate Judiciary 5.15.pdf

FY 14-15 Annual CFC Report to Senate Judiciary Committee 2.16.pdf

+6 more

Source: FAA CATS Form 5100-127, DOT T-100 Market Data, Airport Official Statements · Hub classification: FAA CY 2024 Enplanement Data · Prepared by DWU Consulting