Tuesday, March 29, 2005

Philadelphia Airport Gets an "A"

Standard & Poor's has affirmed Philadelphia International Airport's "A" credit rating and offered a stable outlook (see story). Among reasons given for the strong rating: moderate cost/debt levels for an airport of its size and hub status; steady passenger growth with “enplaned” numbers growing an average 2.4% for fiscal years 2001-2004; a diverse local economy; and a strong origin/destination base of 66% of total enplaned passengers in fiscal year 2004. What does this all mean? Philadelphia International Airport is well-managed and the prognosis for its future is good.


DanielUA said...

Well managed fiscally? Seems like it, and it is a great sign for the future.

But, considering PHL has the most delays of both departures and arrivals of any airport in the Country, I think there are quite a few improvements that we need to see before the day to day operations are considered well managed.

Anonymous said...

The departure/arrival delays are largely attributable to spatial constraints and should be remedied by the construction of the new run way.

DanielUA said...

Hopefully that is true. I do remember though, when Terminal E itself was supposed to do the same thing, so I will wait and see.

Again, overall great news. Lets just not ignore that PHL gets rated at the very bottom in some nationwide quality surveys, and, unfairly or not, was the focus of nationwide criticism over its baggage fiasco in December.

Anonymous said...

let's just hope that there was no cooking of the books and that this S&P rating isn't smoke and mirrors. where's all this money going if it isn't improving arrival/departure times? i think PHL was near the bottom of the list the last time around as well.

erl said...

Are they insane? PHL is the worst airport in the country. It is nearly guaranteed that you will sit on the ground after landing in the airplane for at least 15-20 minutes, waiting for a gate to open up.

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