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About
The Dallas Fort Worth International Airport is jointly owned by the Cities of Dallas and Fort Worth. The Airport (located within the cities of Grapevine, Irving, Coppell, and Euless) is equidistant (17 miles) from Dallas and Fort Worth.
The Airport was created by the 1968 Contract and Agreement between the Cities of Dallas and Fort Worth. Under the terms of the Contract and Agreement, the Airport is operated by a Board of Directors on behalf of the Owner Cities. The Board is authorized to plan, acquire, establish, develop, construct, maintain, equip, operate, lease, regulate and police the Airport and is charged with the responsibility for exercising on behalf of the Owner Cities the powers of each with respect thereto.
The Board consists of 11 members, 7 from the City of Dallas and 4 from the City of Fort Worth. Both the Mayor of Dallas and the Mayor of Fort Worth sit on the Board. The remaining Board members are appointed by the respective City Councils. In addition, the Board has one non-voting member who is appointed by the respective City Councils, on a rotating basis, from one of the four cities in which the Airport is located.
Airport Revenue Bonds are issued jointly by the Owner Cities by Concurrent Bond Ordinances approved by the City Councils of the Owner Cities and are secured solely by certain revenues of the Airport.
The Controlling Documents define how the Airport manages its financial affairs.
The 1968 Contract and Agreement established the Airport Board and provided the authority for the Board to act on behalf of the Cities of Dallas and Fort Worth in managing the Airport.
In 2010, the Owner Cities approved a Master Bond Ordinance, which amended and restated the Controlling Ordinances. This Master Bond Ordinance became effective on July 5, 2013.
The Airport operates pursuant to a hybrid Airlines Use Agreement, which became effective October 1, 2010.
Each fiscal year management prepares an Annual Budget of projected expenditures. This budget includes the Airport’s projected operating expense, excluding depreciation, plus the amount of incremental coverage, which will cause rolling coverage to equal at least 1.25 times the amount of Accrued Aggregate Debt Service. The annual Budget is reviewed with the Airlines and approved by the Owner Cities.
Based on the Annual Budget a Rates and Charges Forecast is prepared to establish the rates, fees and charges for the upcoming fiscal year. This forecast includes airlines and tenant charges, non-airline revenues and non-operating revenues. Under the Airline Use Agreement a year end true up will be prepared for the Airfield and Terminal Cost Centers and rates adjusted in the subsequent year. The DFW Cost Center will retain any excess revenues subject to the provisions of the Use Agreement.
The Airport is required to have an annual year-end audit performed by an independent certified public accountant.
The Airport is required under its continuing disclosure agreement to file with the Electronic Municipal Market Access (EMMA) website certain financial information. From time to time, voluntary disclosures of pertinent information are made on this website, as well. The Airport has retained the service of Digital Assurance Certification (DAC) to assist with these filings. Continuing disclosure, including voluntary disclosures, and any material event filing are available on the DAC website (http://www.dacbond.com) and EMMA website (http://emma.msrb.org).
In Fiscal Year 2010, the Airport prepared its first 10 year Financial Plan, which will be updated annually. This plan serves as a management tool and includes projections of revenues, expenses, capital needs and debt service requirements for a rolling 10 year period.
DFW's most recent financial reports are available for easy access on the Airport's web site. New statements are added frequently, so be sure to check this page often for the latest information.
Fitch Ratings, Moody's Investors Service, S&P Global Ratings and Kroll Bond Rating Agency have assigned their municipal bond ratings of "A+" (Negative), "A1" (Stable), "A" (Negative), and "AA" (Negative) respectively to DFW Airport Joint Revenue Bonds. S&P Global Ratings and Moody's Investors Service have assigned ratings to DFW Airport's Subordinate Lien Commercial Paper Program of "A-1" and "P-1" respectively. An explanation of each rating may be obtained from the respective rating agencies. These ratings reflect only the respective views of the rating agencies, as of the date of the respective reports. Click below to view that latest write-ups for DFW Airport.
For prior bond issues, information is available at www.dacbond.com.
Current Offerings
Please continue to check back for bond issues.
Future Offerings
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Airline Info
Certain of the Airlines (or their respective parent corporations) are subject to the information reporting requirements of the Securities Exchange Act of 1934 and in accordance therewith file reports and other information (collectively, the “SEC Reports”) with the Securities and Exchange Commission (the “SEC”). Only companies with securities listed on a national securities exchange or registered under § 12(g) of the Exchange Act, or companies which are required to file with the SEC under § 15 (d) of the Exchange Act, are required to file with the SEC pursuant to the information reporting requirements will have information on file. Certain information, including financial information, as of particular dates, concerning each such Airline (or their respective parent corporations) is included in the SEC Reports. The SEC Reports can be inspected in the Public Reference Room of the SEC at Room 1580, 100 F Street, N.E., Washington, D.C. 20549, and at the SEC’s regional office at 500 West Madison Street, Suite 1400, Chicago, IL 60661 and copies of such SEC Reports can be obtained from the Public Reference Section of the SEC at 100 F Street, N.E., Washington, D.C. 20549 at prescribed rates. The SEC maintains a web site at http://www.sec.gov. In addition, each domestic airline is required to file periodic reports of financial and operating statistics with the United States Department of Transportation (“DOT”). Such reports can be inspected at the following location: DOT Dockets Office, Research and Innovative Technology Administration, Bureau of Transportation Statistics, 1200 New Jersey Avenue, S.E., room W12-140, Washington, D.C. 20590, and copies of such reports can be obtained from DOT at prescribed rates. In addition, further information regarding American Airlines, the predominant carrier servicing the Airport, may be found at its web site: www.aa.com. Foreign flag airlines also provide certain information concerning their operations and financial affairs, which may be obtained from the respective airline.
If you have a question or comment about the documents listed, click the button below to contact us for more information.
About
The Dallas Fort Worth International Airport is jointly owned by the Cities of Dallas and Fort Worth. The Airport (located within the cities of Grapevine, Irving, Coppell, and Euless) is equidistant (17 miles) from Dallas and Fort Worth.
The Airport was created by the 1968 Contract and Agreement between the Cities of Dallas and Fort Worth. Under the terms of the Contract and Agreement, the Airport is operated by a Board of Directors on behalf of the Owner Cities. The Board is authorized to plan, acquire, establish, develop, construct, maintain, equip, operate, lease, regulate and police the Airport and is charged with the responsibility for exercising on behalf of the Owner Cities the powers of each with respect thereto.
The Board consists of 11 members, 7 from the City of Dallas and 4 from the City of Fort Worth. Both the Mayor of Dallas and the Mayor of Fort Worth sit on the Board. The remaining Board members are appointed by the respective City Councils. In addition, the Board has one non-voting member who is appointed by the respective City Councils, on a rotating basis, from one of the four cities in which the Airport is located.
Airport Revenue Bonds are issued jointly by the Owner Cities by Concurrent Bond Ordinances approved by the City Councils of the Owner Cities and are secured solely by certain revenues of the Airport.
The Controlling Documents define how the Airport manages its financial affairs.
The 1968 Contract and Agreement established the Airport Board and provided the authority for the Board to act on behalf of the Cities of Dallas and Fort Worth in managing the Airport.
In 2010, the Owner Cities approved a Master Bond Ordinance, which amended and restated the Controlling Ordinances. This Master Bond Ordinance became effective on July 5, 2013.
The Airport operates pursuant to a hybrid Airlines Use Agreement, which became effective October 1, 2010.
Each fiscal year management prepares an Annual Budget of projected expenditures. This budget includes the Airport’s projected operating expense, excluding depreciation, plus the amount of incremental coverage, which will cause rolling coverage to equal at least 1.25 times the amount of Accrued Aggregate Debt Service. The annual Budget is reviewed with the Airlines and approved by the Owner Cities.
Based on the Annual Budget a Rates and Charges Forecast is prepared to establish the rates, fees and charges for the upcoming fiscal year. This forecast includes airlines and tenant charges, non-airline revenues and non-operating revenues. Under the Airline Use Agreement a year end true up will be prepared for the Airfield and Terminal Cost Centers and rates adjusted in the subsequent year. The DFW Cost Center will retain any excess revenues subject to the provisions of the Use Agreement.
The Airport is required to have an annual year-end audit performed by an independent certified public accountant.
The Airport is required under its continuing disclosure agreement to file with the Electronic Municipal Market Access (EMMA) website certain financial information. From time to time, voluntary disclosures of pertinent information are made on this website, as well. The Airport has retained the service of Digital Assurance Certification (DAC) to assist with these filings. Continuing disclosure, including voluntary disclosures, and any material event filing are available on the DAC website (http://www.dacbond.com) and EMMA website (http://emma.msrb.org).
In Fiscal Year 2010, the Airport prepared its first 10 year Financial Plan, which will be updated annually. This plan serves as a management tool and includes projections of revenues, expenses, capital needs and debt service requirements for a rolling 10 year period.
DFW's most recent financial reports are available for easy access on the Airport's web site. New statements are added frequently, so be sure to check this page often for the latest information.
Fitch Ratings, Moody's Investors Service, S&P Global Ratings and Kroll Bond Rating Agency have assigned their municipal bond ratings of "A+" (Negative), "A1" (Stable), "A" (Negative), and "AA" (Negative) respectively to DFW Airport Joint Revenue Bonds. S&P Global Ratings and Moody's Investors Service have assigned ratings to DFW Airport's Subordinate Lien Commercial Paper Program of "A-1" and "P-1" respectively. An explanation of each rating may be obtained from the respective rating agencies. These ratings reflect only the respective views of the rating agencies, as of the date of the respective reports. Click below to view that latest write-ups for DFW Airport.
For prior bond issues, information is available at www.dacbond.com.
Current Offerings
Please continue to check back for bond issues.
Future Offerings
Please check back for bond issues.
Airline Info
Certain of the Airlines (or their respective parent corporations) are subject to the information reporting requirements of the Securities Exchange Act of 1934 and in accordance therewith file reports and other information (collectively, the “SEC Reports”) with the Securities and Exchange Commission (the “SEC”). Only companies with securities listed on a national securities exchange or registered under § 12(g) of the Exchange Act, or companies which are required to file with the SEC under § 15 (d) of the Exchange Act, are required to file with the SEC pursuant to the information reporting requirements will have information on file. Certain information, including financial information, as of particular dates, concerning each such Airline (or their respective parent corporations) is included in the SEC Reports. The SEC Reports can be inspected in the Public Reference Room of the SEC at Room 1580, 100 F Street, N.E., Washington, D.C. 20549, and at the SEC’s regional office at 500 West Madison Street, Suite 1400, Chicago, IL 60661 and copies of such SEC Reports can be obtained from the Public Reference Section of the SEC at 100 F Street, N.E., Washington, D.C. 20549 at prescribed rates. The SEC maintains a web site at http://www.sec.gov. In addition, each domestic airline is required to file periodic reports of financial and operating statistics with the United States Department of Transportation (“DOT”). Such reports can be inspected at the following location: DOT Dockets Office, Research and Innovative Technology Administration, Bureau of Transportation Statistics, 1200 New Jersey Avenue, S.E., room W12-140, Washington, D.C. 20590, and copies of such reports can be obtained from DOT at prescribed rates. In addition, further information regarding American Airlines, the predominant carrier servicing the Airport, may be found at its web site: www.aa.com. Foreign flag airlines also provide certain information concerning their operations and financial affairs, which may be obtained from the respective airline.
