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Aviation Commissioner Andolino Speaks at City Investor Conference
Chicago Department of Aviation (CDA) Commissioner Rosemarie S. Andolino gave an overview of O'Hare and Midway International Airports' financial conditions at the City Investor Conference on Thursday, October 20, 2011, highlighting the fiscal strength of both airports' operations as well as the airports' strong bond ratings.
Chicago Mayor Rahm Emanuel, Chicago Chief Financial Officer Lois Scott and several City commissioners were also speakers at the City Investor Conference held at the Union League Club. The audience included municipal finance professionals interested in learning more about Chicago finances and future bond issuance plans.
Andolino told audience members that the CDA in 2011 took significant steps towards making Chicago's airports the world's best by making investments and decisions necessary to enhance Chicago's status as a global transportation center.
Andolino noted that the CDA has managed expenses well at both airports, has invested heavily in capital improvements at Midway and O'Hare, and has grown non-airline revenue. She also outlined upcoming concessions and parking improvements that will enhance the traveler experience and continue to grow non-airline revenue for the department.
The Commissioner also gave an update on the O'Hare Modernization Program (OMP), which is reconfiguring O'Hare's runways in a more efficient, modern design that will have positive ramifications for the national aviation system by reducing congestion and delays while increasing flight capacity.
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