Upon completion of the course, students will be able to do the following:
1. Communicate relevant federal obligations (grant assurances and compliance requirements) required of airport sponsors, as well as policies, regulations and other guidance established by federal, state and local governmental agencies.
2. Discuss contracts, agreements and (minimum) standards that airport may elect to establish with airlines, air cargo operators, concessionaires, ground transportation operators, fixed based operators, and/or other airport users. Review contractural regulations, such as Davis Bacon and Disadvantaged Business Enterprise Program.3. Identify funding mechanisms and financial strategies employed by airport sponsors. Compare and contrast the financial approaches to management (compensatory versus residual cost) and discuss cost accounting, project evaluation, bond valuation, bond swaps and risk management.
4. Explore and communicate emerging airport marketing strategies and terms, and discuss innovative approaches for increasing (particularly non-aeronautical) revenue generation.
5. Examine and suggest measures to enhance the relationship between airport management and the surrounding community.
6. Engage in analysis of airport financial statements using various sources of financial data (such as airport annual reports, FAA CATS Forms 126 and 127, ARN Fact Book, etc.).
7. Identify and discuss the major streams of airport revenue and expenses, budget types, leases, rates and charges, and pricing strategies.
8. Discuss the various elements of an airport’s legal responsibilities to include common law, tort liability, criminal case laws, liens and constitutionality issues.
9. Explain the concept of airport privatization, and other emerging trends at airports, and their potential beneficial or harmful impacts on airports, users and communities.
10. Measure the performance of an airport using performance measurement methodologies.