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LRAA Debt Lowest in 20 Years

July 19, 2013

On Wednesday, July 17, at the regularly scheduled monthly meeting of the Louisville Regional Airport Authority, Chairman Phil Lynch advised the Board that the Authority began its new, FY 14 on July 1, 2013, with a debt load smaller ($289 million) than any time in the last 20 years. In addition, it was noted that the Authority s debt had been reduced by 1/3 in just the last 10 years. This is great news for the future of our airport and is the direct result of exceptional management and the strength of our business partners, said Lynch.

The proof of that, said Lynch, was that we have not just been paying down debt; rather, we have simultaneously continued to improve our facilities and prepare for the future. Lynch cited major capital initiatives such as the Beyond 2010 program, which includes constructing Taxiway Alpha to accommodate a new generation of aircraft, the renovation of terminal facilities and the construction of two new maintenance hangars as examples of major projects financed while still allowing for a significant reduction in debt. Great credit goes to LRAA Executive Director Skip Miller and his fine staff for their foresight and strong performance in accomplishing both growth and debt reduction, Lynch said.