Alexandria, Va. – The American Association of Airport Executives’ (AAAE) Airport Consortium on Transformation (ACT), comprised of innovative airport leaders and aviation industry experts, has released a comprehensive guide for airport finance professionals dedicated to the effective management of Capital Improvement Programs (CIPs).
The research included in the guide delves into essential strategies for navigating the complexities of CIPs, and the need for extensive coordination among various stakeholders. It offers a toolkit of technical approaches and strategic insights that are indispensable throughout the life cycle of capital projects.
“This paper is a valuable collection of the current capital planning and management practices at airports, which can be used as a guide by airport managers in their decision-making process as they evaluate their own capital investment needs,” said Los Angeles World Airports Chief Financial Officer Tatiana Starostina. “I am grateful to all the participants and the AAAE ACT program for this contribution to the airport industry and the airport finance community.”
“With the North American airport industry facing a great need for investment and improvement, this is an opportune time to consider how airport finance professionals can plan, monitor, and execute transformational capital programs,” added Ian Sample, Associate with Steer. “This guide will be a valuable tool for emerging and established airport finance teams as they face the projects in front of them.”
The paper highlights essential practices for effective capital improvement programs, drawing on case studies from ACT-member airports. It reviews governance, management, and project scoping. It stresses the importance of aligning these programs with strategic plans to ensure success, emphasizes thorough initial planning and clear objectives, and discusses the role of debt affordability analysis in understanding financial constraints. The paper also recommends prudent reserve allocations and underscores the necessity of strong collaboration between external project managers and internal finance teams, along with robust communication and stakeholder engagement strategies for sustained success.
Contributors to the report include Loop Capital Markets, Ramirez & Co., RS&H, and Steer.
For more information about this research or to access the guide, please visit this webpage.
2022 Charlotte Douglas International Airport Report of Achievement
Giving back to the community is central to what Charlotte Douglas International Airport and its operator, the City of Charlotte Aviation Department, is about, and last year was no different.
Throughout 2022, while recovering from the COVID-19 pandemic, we continued our efforts to have a positive impact on the Charlotte community. Of particular note, we spent the year sharing stories of how Connections Don't Just Happen at the Terminal - from creating homeownership and employment opportunities to supporting economic growth through small-business development and offering outreach programs to help residents understand the Airport better.
This whitepaper highlights the construction projects, initiatives, programs and events that validate Charlotte Douglas as a premier airport.
Download the whitepaper: 2022 Charlotte Douglas International Airport Report of Achievement.