John Wayne Bonds Taken Off Credit Watch

A national rating bureau removed John Wayne Airport revenue bonds from credit watch this week, citing the airport’s rebound from a loss of business after the Sept. 11 terrorist attacks.

Standard & Poor’s placed the bonds on watch status Sept. 20, along with bonds from all other U.S. airports. Passenger traffic, which has bounced back faster at John Wayne than at other facilities, was down about 10% in 2001 from the year before.

County supervisors last month raised parking and other airport fees to cover a $12-million increase in security costs. This month, supervisors ended eight years of planning for an airport at the closed El Toro Marine base, which had used more than $40 million in revenue from John Wayne Airport since 1994.