Medium Hub

, · SAT

← All Airports

Recent News

Updated Mar 1, 2026
Terminal C expansion adds Delta lounge space as $1.4B project continues

San Antonio City Council approved expanding the contract capacity to $1.3 billion for Terminal C construction, including an extra 10,000 square feet for Delta's airport lounge and an additional gate. Terminal A Expansion is scheduled for completion in Q1 2026, with Terminal C and new parking garage on track to open in 2028.

KENS 5
San Antonio International Airport unveils new mascot Jett

San Antonio International Airport revealed its new mascot, Jett, an upbeat airplane designed to bring joy to travelers on February 24, 2026. Jett embodies the joy of travel and pride of San Antonio, and will frequently appear at the airport to take photos with passengers and reassure first-time travelers.

KSAT·Feb 25, 2026
Volaris to launch nonstop service from San Antonio to Querétaro

Volaris Airlines will begin nonstop service from San Antonio International Airport to Querétaro, Mexico starting June 2, 2026, operating three days a week on Tuesdays, Thursdays and Sundays. This expands service to Querétaro at SAT to six days weekly, following Volaris-Viva merger in December 2025.

KSAT·Feb 3, 2026
Breeze Airways returns to SAT with three new nonstop destinations

Breeze Airways announced its return to San Antonio International Airport with three new nonstop routes to Raleigh-Durham, Memphis, and Pensacola beginning in May 2026. The budget airline previously left SAT in 2022. Raleigh-Durham service starts at $79, while Memphis and Pensacola flights start at $49.

San Antonio Report·Jan 29, 2026
SAT begins runway pavement rehabilitation on Runway 13R-31L

San Antonio International Airport began pavement rehabilitation construction on Runway 13R-31L on January 12, 2026, continuing through March 6. The project addresses critical pavement repairs, upgrades runway lighting to energy-efficient LEDs, and re-establishes runway markings. During closure, flights are redirected to Runway 4/22.

Airport Industry-News·Jan 8, 2026

Airport Profile

Bond TypeGARB
Rate MethodologyHybrid Residual
AUA StatusActive
Agreement Period2024-01-01 – 2034-09-30

Key Financial Data (FY 2024)

CPE$13.14
Signatory Landing Fee$3.4800
Enplanements5,574,879
Total Operating Revenue$174.7M
Total Operating Expense$138.2M
Operating Income$36.5M
Total Debt$579.6M
Rate Covenant1.25x
Unrestricted Cash$35.2M
Landed Weight (1000 lbs)7,226,469

Enplaned Passengers (T-100)

4.3M-21.0%

Cost per Enplanement (CPE)

$13.14+27.4%

Revenue

$174.7M+22.2%

Expense

$138.2M+5.7%

Ratemaking Overview

Overall MethodologyHybrid Residual
Ratesetting Typeagreement
Cost Center StructureAirfield Area, Terminal Area, Non-Airline Areas
Revenue SharingConcession revenue credits applied to terminal cost center
Capital RecoveryDebt service on airport revenue bonds plus amortization of capital improvements

Settlement & True-Up

Annual reconciliation within 120 days after fiscal year end

Extraordinary Coverage Protection (ECP)

ECP TypeSettlement

Not available

Landing Fee Methodology

MethodologyResidual

Airfield Area Net Requirement divided by forecasted total MGLW

Terminal Rental Rate

Rate DivisorRentable square footage in terminal area

Terminal Area Net Requirement divided by total rentable space

Common Use & Gate Allocation

Common Use GatesYes
Common Use BaggageYes

Additional Bonds Test

The City may issue Additional Parity GARBs on parity with Outstanding GARBs upon satisfaction of certain revenue tests required by Section 17 of the Master GARB Ordinance

Rate Covenant

Covenant Ratio1.25x

Gross Revenues must be at least sufficient to pay Operation and Maintenance Expenses and provide an amount equal to 1.25 times the Annual Debt Service Requirements (excluding principal and interest on Parity GARBs paid with capitalized interest and funds other than Gross Revenues) on all then-outstanding Parity GARBs

Flow of Funds

Gross Revenues deposited to Revenue Fund, then transferred in priority order: (1) GARB Bond Fund (monthly deposits for debt service); (2) GARB Reserve Fund (1/60th monthly deposits until funded); (3) Operation and Maintenance Account (pay O&M expenses first, then transfer to Subordinated Debt Fund for PFC Bonds); (4) Capital Improvement Fund (year-end balance)

1.GARB Bond Fund — Monthly deposits on or before 25th of month in equal installments sufficient to pay interest or principal and interest on all Parity GARBs on next payment date
2.GARB Reserve Fund — Maintain at Average Annual Debt Service Requirements on all Parity GARBs; monthly deposits of 1/60th of required amount if deficient
3.Operation and Maintenance Account — Pay all Operation and Maintenance Expenses, then transfer to Subordinated Debt Fund for PFC Bonds; must maintain at least 3 months budgeted O&M expenses before any Capital Improvement Fund deposits
4.Subordinated Debt Fund (PFC Bond Fund) — Pay principal, premium, interest, and other payments on Subordinated Debt (PFC Bonds)
5.Capital Improvement Fund — Year-end balance from O&M Account; used for (1st) GARB debt if Bond Fund/Reserve insufficient, (2nd) Subordinated Debt if insufficient, (3rd) capital expenditures, (4th) any lawful purpose related to Airport System
6.Rebate Fund — For sole benefit of United States; not subject to lien; applied per IRC section 148

Source Documents

Official Statements

SAT-2012-OS.pdf
SAT-2015-CFC-OS.pdf
SAT-2015-OS.pdf
SAT-2019AB-OS.pdf

Financial Statements

SAT 2024 City FS.pdf

Airline Use Agreements

SAT-2024-2034-AUA.pdf

Rate Books

SAT-2026-Budget-Ratebook.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