Orlando International Airport

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Orlando, FL · MCO

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Recent News

Updated Mar 29, 2026
Spring break travel chaos: 319 flight disruptions on March 23 amid TSA staffing issues

Orlando International Airport experienced 319 flight disruptions (14 cancellations and 305 delays) on March 23 during final days of peak spring break travel. Delta, American, JetBlue, Southwest, and United all faced delays affecting domestic routes to major US hubs plus international routes to London, Paris, and Dubai.

Travel Tourister·Mar 23, 2026
MCO projects record spring break traffic with 8% jump, 7 million travelers expected

Orlando International Airport officials projected record-breaking spring break numbers with upwards of 7 million travelers and an 8% jump in traffic compared to last year. Peak Sunday travel was estimated at 211,973 passengers despite government shutdown challenges and rising fuel costs.

Spectrum News 13·Mar 12, 2026
MCO wins overall award at Routes Americas 2026, handled 57.7M passengers in 2025

Orlando International Airport was named Overall Winner at the Routes Americas 2026 Awards and won in the Over 20 Million Passengers category. MCO handled 57.7 million passengers in 2025, surpassing 2019 levels by 13%, and added 45 new and expanded routes including five new international markets.

Aviation Week Network·Mar 5, 2026
ZIPAIR launches first direct Orlando-Tokyo charter flights starting February 23

ZIPAIR debuted four charter flights between Orlando and Tokyo from February 23 through March 10, marking the first direct connection between the two airports. MCO became the first airport in Florida to announce nonstop charter service to Asia, achieving a longstanding goal of direct Asia connectivity.

FOX 35 Orlando·Feb 23, 2026
New airline routes launched in January: Allegiant to Appleton, Frontier to Newark

Two airlines added new destinations in January with Allegiant Air offering service to Appleton, Wisconsin starting January 16, and Frontier beginning service to Newark, New Jersey on January 21. Several other airlines resumed service to destinations including Pensacola, Louisville, and Nashville.

Orlando News·Jan 6, 2026

Airport Profile

Governing EntityGreater Orlando Aviation Authority
Entity TypeAuthority
Fiscal Year EndSeptember
Bond TypeGARB
Rate MethodologyHybrid Compensatory
AUA StatusActive
S&PA+
Moody'sA1
FitchA+

Key Financial Data (FY 2025)

CPE$21.50
Enplanements4,500,000
Total Operating Revenue$157.0M
Total Operating Expense$134.0M
Operating Income$23.0M
Total Debt$350.0M
Rate Covenant1.25x
Unrestricted Cash$35.0M
Landed Weight (1000 lbs)5,400,000,000

Enplaned Passengers (FAA CATS)

4.5M+2.3%
Route data →

Cost per Enplanement (CPE)

$21.50-4.4%

Revenue

$157.0M+3.6%

Expense

$134.0M+2.3%

Ratemaking Overview

Overall MethodologyHybrid Compensatory
Ratesetting TypeAirline Use Agreement with Rate Methodology
Cost Center StructureMultiple terminal facility cost centers with specialized charges
Revenue SharingYes - Participating Airlines share in Terminal Rebalancing Reserve and net revenues
Capital RecoveryDebt service (Senior and Subordinated Bonds) plus Amortization

Settlement & True-Up

Annual reconciliation

Extraordinary Coverage Protection (ECP)

ECP TypeNone

Not available

Landing Fee Methodology

MethodologyCompensatory

Not available

Terminal Rental Rate

Terminal Facility Fee per-turn basis for airside and landside; varies by aircraft class with multipliers

Common Use & Gate Allocation

Common Use GatesYes
Common Use BaggageYes

Additional Bonds Test

Additional Bonds may be issued if an Airport Consultant certifies that the Authority will be in compliance with its rate covenant (1.25x coverage) for each of the next three full Fiscal Years following issuance, or each of the next two full Fiscal Years during which there is no Capitalized Interest, whichever is later.

Rate Covenant

Covenant Ratio1.25x

Net Revenues plus any Transfers for each Fiscal Year must equal at least 1.25 times the Aggregate Debt Service on all Outstanding Senior Bonds for such Fiscal Year. Net Revenues = Revenues minus Operation and Maintenance Expenses. Available PFC Revenues designated to pay debt service are excluded from the Aggregate Debt Service calculation.

Flow of Funds

Monthly deposits from Revenue Fund in priority order: (1) O&M Fund (1/12 of annual budget), (2) Bond Fund Debt Service Account (to equal Accrued Aggregate Debt Service), (3) Debt Service Reserve Account (to Composite Reserve Requirement), (4) Subordinated Indebtedness debt service, (5) Subordinated debt service reserve, (6) O&M Reserve Account (1/12 toward 1/6 of annual O&M), (7) Secondary Subordinated debt service, (8) Secondary Subordinated reserve, (9) Capital Expenditures Fund (1/12 of annual appropriation), (10) Renewal & Replacement Fund (1/12 of annual appropriation, cap at $2M uncommitted), (11) Discretionary Fund (remainder).

1.Operation and Maintenance Fund — 1/12 of annual O&M budget
2.Bond Fund - Debt Service Account — Amount to equal Accrued Aggregate Debt Service, excluding capitalized interest
3.Debt Service Reserve Account — Amount to equal Composite Reserve Requirement for each subaccount
4.Subordinated Indebtedness - Debt Service — Principal and interest on Priority Subordinated Indebtedness
5.Subordinated Indebtedness - Reserve — Debt service reserve for Subordinated Indebtedness per Issuing Instrument
6.O&M Reserve Account — 1/12 of difference between current balance and 1/6 of annual O&M budget
7.Secondary Subordinated Indebtedness - Debt Service — Principal and interest on Secondary Subordinated Indebtedness
8.Secondary Subordinated Indebtedness - Reserve — Reserve for Secondary Subordinated per Issuing Instrument
9.Capital Expenditures Fund — 1/12 of annual appropriation per budget
10.Renewal and Replacement Fund — 1/12 of annual appropriation, no deposit when uncommitted balance ≥ $2M
11.Discretionary Fund — All remaining amounts after required deposits

Source Documents

Official Statements

Financial Statements

ACFR-2024.pdf
Quarterly-Financial-Statements-202406.pdf

+3 more

Budgets

GFOA-GOAA-AdoptedBudgets-FY2025-2026.pdf
GFOA-GOAA-AdoptedBudgets-FY2024-2025.pdf
Budget-Adopted-FY2025.pdf
Budget-Adopted-FY2024.pdf
2025.09.17_Adopted_Budget_website.pdf

+1 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