Orlando International Airport

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Orlando, FL · MCO

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Recent News

Updated Mar 15, 2026
MCO expects 7.4 million passengers during Spring Break 2026

Orlando International Airport expects more than 7.4 million passengers during the Spring Break travel period from mid-February through April 7, marking an 8% increase over 2025. The busiest days are expected between March 12-16, with nearly 53,000 flights operating during the period.

Gotta Go Orlando·Mar 13, 2026
First Asia-Pacific service launches at MCO with Zipair Tokyo route

MCO launched its first nonstop passenger service to the Asia-Pacific region with Zipair's charter service between Orlando and Tokyo Narita, marking a historic milestone. The airport is accelerating its push for new long-haul routes following this achievement.

Aviation Week Network·Mar 10, 2026
TAP Air Portugal and Virgin Atlantic add new European service to MCO

TAP Air Portugal plans to begin 3X-weekly Lisbon-Orlando flights in October 2026, while Virgin Atlantic is increasing capacity on Manchester-Orlando service. British Airways is also scheduled to offer seasonal flights from London Heathrow this summer.

Aviation Week Network·Mar 10, 2026
Orlando airport wins Overall Winner at Routes Americas 2026 Awards

MCO was named Overall Winner at Routes Americas 2026 Awards in addition to winning the Over 20 Million Passengers category. The airport handled 57.7 million passengers in 2025, surpassing 2019 levels by 13%, and added 45 new and expanded routes including new international markets.

Aviation Week Network·Mar 8, 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 2024)

CPE$8.18
Signatory Landing Fee$1.8000
Enplanements29,080,689
Total Operating Revenue$721.0M
Total Operating Expense$721.6M
Operating Income$-573K
Total Debt$2.7B
Rate Covenant1.25x
Unrestricted Cash$776.2M
Landed Weight (1000 lbs)32,053,942

Enplaned Passengers (FAA CATS)

29.1M+4.2%
Route data →

Cost per Enplanement (CPE)

$8.18+7.1%

Revenue

$721.0M+10.6%

Expense

$721.6M+5.4%

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