The Greater Orlando Aviation Authority (GOAA) Board voted unanimously to approve the FY2021 budget for Orlando International Airport (MCO) and Orlando Executive Airport (ORL), but due to the negative effects of COVID-19, the $443,356,263 budget stands in stark contrast to last year’s budget when MCO was on track for 50 million annual passengers.

Notable items of interest in the FY2021 budget include:
• $150.2 million decrease in gross revenues from FY2020
• $83.4 million infusion of CARES Act reimbursements
• $30.3 million decrease in expenditures
• $1.2 million increase in janitorial & cleaning services
• Increase in Cost Per Enplaned (CPE) passenger for participating airlines from $5.32 to $13.90
• ORL budget of $4.083 million is $217,000 less than FY2020

“We’ve adjusted to the economic realities of the Covid-19 pandemic,” said Carson Good, Greater Orlando Aviation Authority Board Chairman. “This budget reflects the current fiscal challenges in the travel industry and allows us to continue meeting our financial obligations.”

Airline and Non-Airline revenue both showed significant decreases from the previous year. Airline revenues are derived from fees paid to use the airfield and terminal facilities. Non-Airline revenues include rental car fees, parking, concessionaire rents and the hotel. The Aviation Authority receives no ad valorem tax dollars to fund airport operations.

The Authority also received some positive news from one of the nation’s top bond ratings agencies. The Kroll Bond Rating Agency (KBRA) affirmed the AA rating on the Greater Orlando Aviation Authority’s Airport Facilities Revenue Bonds, Series 2019A and placed the rating on Watch-Developing.
The rating reflects Orlando International Airport’s unique air service market which features a substantial leisure and hospitality component, a rapidly growing population, and an expanding and diversifying economy.