US Airports Rush to Bond Market With $10B of New Sales

Market Trends & Issuance Surge - Travel numbers exceed pre-pandemic levels, driving demand [1] - Airport infrastructure projects are experiencing a surge in issuance [1][2] - First half of the year saw $10 billion in issuance, a 51% increase year-over-year [2][3] Cost Factors & Project Details - Construction costs are higher due to inflation impacting materials and labor [2] - Salt Lake City airport's overhaul project increased from $36 billion to slightly over $5 billion [4][5] - Design changes and the addition of more gates contributed to the cost increase at Salt Lake City airport [5] Debt Absorption & Regional Examples - Airport debt is being absorbed really well by investors [2][3] - Newark and Pittsburgh airports are also experiencing rising construction costs [4]