Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PORTLAND-Port of Portland officials say they are not at risk of defaulting on bonds as a result of decreased airport revenues associated with the industry’s shut down and slow ramp up following the terrorist attacks earlier this month.

“Earlier today, (a local daily newspaper) printed a story suggesting the Port was at risk of defaulting on its bond,” said Port of Portland Executive Director E.B. Galligan in a written statement. “That is absolutely not the case.”

Galligan went on to state that the port, “like every other airport operator in the country,” is attempting to better understand the revenue and cost impacts of airline operations following the attack.

“The Port is reviewing its business plan and budget and will be making adjustments as needed,” he wrote. “Additionally, it’s worth noting that PDX has one of the highest bond ratings of any airport in the U.S., and that PDX bonds are insured for payment of debt service.

“It’s true that much of our situation depends on what happens with the airline industry. But we must remember that’s greatly dependent on the unknown factor of human nature and when people decide to make flying a regular part of their lives again. We here at the Port are confident that that time will come.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.