Ontario International Airport Earns Fitch Upgrade to A+ as S&P Affirms A Rating, Both Outlooks Stable
Ontario is a city in San Bernardino County, California. The Ontario International Airport Authority (OIAA) announced on October 8 that Fitch Ratings has upgraded its airport revenue bonds from A- to A+, while S&P Global Ratings affirmed its A rating on OIAA's revenue bonds. Both agencies assigned stable outlooks, recognizing the airport's continued financial strength, disciplined management, and long-term growth trajectory.
The upgrade had been anticipated: Fitch had previously identified the airport for a potential upgrade, citing robust passenger growth, strengthened airline use agreements, and an improving financial profile. Its latest action reflects continued progress on each front. S&P cited ONT's growth and increased service routes along with effective management that is "conservatively approaching financial and capital planning."
The ratings come as the airport approaches the 10th anniversary of its return to local ownership. In 2016, Ontario International returned to local control from Los Angeles World Airports and is now owned and operated by a Joint Powers Agreement between the City of Ontario and San Bernardino County. Over the decade, annual passenger traffic has grown from approximately 4.3 million travelers to more than 7 million, making ONT one of the nation's fastest-growing medium-hub airports and a leading economic engine for Southern California. The airport has expanded its route network, attracted new domestic and international air service, strengthened airline partnerships, and maintained one of the most competitive cost structures among comparable U.S. airports, paired with strong debt service coverage.
"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," said Atif Elkadi, chief executive officer of the Ontario International Airport Authority. "We are not building ONT for where we are today. We are building it for where this region is going... our best years are still ahead of us."
The airport continues to advance "ONT BOLD," its long-term vision to prepare infrastructure for future passenger demand while enhancing the customer experience and strengthening its role as the Inland Empire's premier aviation gateway. Independent analysis found the airport generates nearly $5 billion in annual economic output throughout the Inland Empire and supports tens of thousands of jobs.
For Chinese-American travelers, ONT serves more than 7 million passengers per year with nonstop service to two dozen major airports in the U.S., Mexico, Central America and Taiwan, including China Airlines service to Taipei, making it an important gateway to Asia for Southern California's Chinese community. It is ranked the second most popular mid-sized airport by J.D. Power. More information is available at flyOntario.com.
(Source: OIAA announcement of October 8; compiled by GSM)
Published by GSM · USA (original Chinese edition)
Photo: CC BY-SA 4.0（Wikimedia Commons）
