JACKSON — Despite the 2014 pullout of Southwest Airlines, a credit rating agency says the financial outlook at Jackson-Evers International Airport remains stable.
Fitch Ratings Friday maintained the airport’s $38 million in debt at BBB+, at the low end of investment-grade ratings, with Fitch saying it expects the rating to remain stable.
The rating agency says other carriers are picking up some of the slack left by Southwest. It also says prices charged to airlines by the Jackson airport are higher than similar airports, and rose to offset revenue lost from Southwest.
Fitch says airline travelers have few options besides Jackson, though, and says the airport has more than a year’s worth of cash on hand. It also has low debt payments, especially after it shelved a $20 million capital improvement plan.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info