The Future of Airport Finance (2024)
Chapter: Day 1 Opening Remarks
Day 1
Opening Remarks
Speakers
Victoria Sheehan, Executive Director, Transportation Research Board
Cindy Nichol, Director of Airports, Sacramento County Department of Airports, Chair, Insight Event Project Panel
Overview
At the beginning of Day 1 of the Insight Event, the two speakers welcomed the audience, provided context for the Insight Event, and established ground rules for dialogue.
Detailed Summary of Opening Remarks
Victoria Sheehan opened the Insight Event with remarks that introduced the National Academies, TRB, and ACRP. ACRP looks at the most significant issues facing the airport industry, with the goal of developing information that advances the state of practice. She noted that the “Future of Airport Finance” Insight Event was especially well timed, given that the FAA authorization expires in FY 2023 (September 30, 2023) and would require extension by FY 2024 (October 1, 2023). She explained that the airport industry’s approach to financial decision-making would be a combination of traditional support programs and innovative ones that would lead to a transformation in the industry.
Next, Cindy Nichol welcomed participants and asked the group to think back to 5 years ago. In 2018, she said, if the group had thought about what the industry would look like today, it would have missed the pandemic and the financial challenges that airports and the greater industry have experienced, and those are the things behind the current need to discuss the challenges the industry will potentially face in the future, how to get into position to deal with those challenges, and what new initiatives could be presented. Nichol offered that ACRP can play a vital role in helping the industry prepare by providing the research that can support decision-making.
