Ontario International Airport Achieves Fitch Upgrade and S&P Affirms Credit Strength

Ontario International Airport Receives Credit Rating Upgrade

In a significant development for the Ontario International Airport, the Ontario International Airport Authority (OIAA) proudly announces the recent upgrade of its credit ratings from Fitch Ratings and S&P Global Ratings. Fitch has assigned an impressive A+ rating to the airport's revenue bonds, while S&P has reaffirmed a solid A rating. Both rating agencies have noted stable outlooks, recognizing the airport's ongoing financial robustness, disciplined governance, and promising growth trajectory.

This upgrade comes as a culmination of a transformative decade for Ontario International Airport, which officially transitioned back to local ownership in 2016. Since then, the airport has seen a remarkable increase in passenger traffic, surging from roughly 4.3 million travelers to over 7 million annually. This upward trend has positioned Ontario International (ONT) among the fastest-growing medium-hub airports in the United States, serving as a vital economic driver for Southern California.

Atif Elkadi, the Chief Executive Officer of the OIAA, expressed pride in the airport's achievements, stating, "Ontario International has spent the last decade proving what is possible when an airport has the courage to think differently, the discipline to execute, and a team that refuses to accept limits others place on us. With the support of strong airline partnerships and a laser focus on strategic growth, we are not just preparing for today but gearing up for the future of this region."

The ratings upgrade by Fitch follows a recognition of the airport's heavy passenger growth, improved airline agreements, and a bolstered financial profile. The agency highlighted that the latest rating is indicative of the continual progress being made across these areas. Similarly, S&P cited the airport's expansion in terms of service routes and effective management strategies as evidence of a positive financial outlook. Effective financial planning and an expansive route network have led Ontario International to maintain one of the most competitive cost structures when compared to other U.S. airports.

Throughout this decade-long evolution, ONT has not only expanded its route offerings but has also attracted new domestic and international air services. The airport has forged strong relationships with airlines while ensuring careful financial oversight and strong debt service coverage. Furthermore, the authorities are actively advancing the ONT BOLD initiative, which outlines a long-term vision to enhance the airport's infrastructure in anticipation of rising passenger demand. This initiative aims to improve the customer experience, solidifying ONT’s status as the leading aviation gateway for the Inland Empire region.

Recent independent assessments have revealed that Ontario International Airport generates billions in economic activity annually throughout the Inland Empire, a pivotal area for connectivity and logistics. The airport supports tens of thousands of jobs and is responsible for nearly $5 billion in economic output, highlighting its crucial role within the Southern Californian economy.

As ONT nears the tenth anniversary of its return to local management, this moment signifies a decade marked by continuous growth, strategic investments, and renewed leadership in the region. As it approaches this milestone, the airport's management is focused on sustaining this momentum and ensuring that Ontario International Airport remains a competitive and vital asset for its community and the travelers it serves.

About Ontario International Airport

Ranked as the second most favored mid-sized airport according to J.D. Power, Ontario International Airport (ONT) accommodates over 7 million passengers each year. It provides non-stop services to numerous significant airports across the U.S., Mexico, Central America, and Taiwan. Operated by the Ontario International Airport Authority, which operates under a Joint Powers Agreement between the City of Ontario and San Bernardino County, the airport is committed to delivering superior performance and customer satisfaction. For more information, visit flyOntario.com. Follow @flyONT on social media platforms to stay updated on the latest developments.