Investor Presentaiton
HAS
RESPONSE TO COVID-19 PANDEMIC - FINANCIAL
REDUCED FY20 EXPENSES
DEFERRED REVENUES AND
WAIVED MAG
REDUCED FY21 BUDGET
REDUCED USE OF
UNRESTRICTED CASH
+
CARES ACT FUNDING
($8M)
$36M
($10M)
($93M)
$200M
Took immediate steps to reduce 4Q FY20 expenses
following onset of pandemic, achieving a reduction of
$8M or 10% vs. budget
✈ Provided relief to airlines and concessionaires by
allowing deferral of 4Q FY20 fees for six months with
no penalty (interest and fees) $29 million; and waived
MAGs for concessionaires of $7 million
✈ Reduced FY21 O&M budget by $10M or 3% when
compared to FY20 and will monitor enplanements while
pursuing additional reductions
✈ Implemented a policy that prohibits the use of
unrestricted cash as a funding source for capital
expenditures; $93M in unrestricted cash appropriations
will be debt funded likely during FY 2022
+
HAS applied for and received $8M in CARES Act funds
in FY20 and recently submitted another application for
$78M of CARES Act funds to be used in FY21. HAS
anticipates using up to $152M in CARES Act funds in
FY21 with the balance of $40M likely to be used in
FY22
9
HOUSTON
AIRPORTSView entire presentation