Non-Hub

, · LIT

← All Airports

Airport Profile

Bond TypeGARB
S&PA-
Moody'sA2

Key Financial Data (FY 2024)

CPE$12.12
Signatory Landing Fee$4.8200
Enplanements1,174,148
Total Operating Revenue$42.9M
Total Operating Expense$48.7M
Operating Income$-5.8M
Total Debt$0.00
Rate Covenant1.25x
Unrestricted Cash$81.9M
Landed Weight (1000 lbs)1,513,352,844

Enplaned Passengers (T-100)

937K-17.8%

Cost per Enplanement (CPE)

$12.12+3.9%

Revenue

$42.9M+4.7%

Expense

$48.7M+3.4%

Ratemaking Overview

Settlement & True-Up

Not available

Landing Fee Methodology

Not available

Terminal Rental Rate

Not available

Common Use & Gate Allocation

Additional Bonds Test

Additional parity bonds may be issued under certain circumstances defined in the Master Indenture through supplemental indentures. Specific tests include historical and projected revenue sufficiency requirements.

Rate Covenant

Covenant Ratio1.25x

Airport must fix rates and charges sufficient to yield Revenues at least equal to a coverage multiple of the sum of Operating Expenses plus Debt Service for each Fiscal Year. Net Revenues divided by Debt Service must meet or exceed the coverage requirement.

Flow of Funds

Revenues deposited into Revenue Fund are applied in priority order: (1) Operating Expenses, (2) Debt Service on principal and interest, (3) Debt Service Reserve to required level, (4) Coverage/Surplus for rolling coverage, (5) Renewal & Replacement for capital maintenance, (6) Discretionary uses per grant assurances.

1.Operating Expenses — Payment of all operating and maintenance expenses
2.Debt Service — Payment of principal and interest on bonds
3.Debt Service Reserve — Maintain required reserve level
4.Coverage/Surplus — Build rolling coverage for future needs
5.Renewal & Replacement — Capital maintenance fund
6.Discretionary — Airport's use per grant assurances

Source Documents

Official Statements

LIT-2007AB-OS.pdf

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