In a report this month, the S&P Global Ratings revised its outlook on the Dayton International Airport (DAY) to stable. The independent, third-party assessment acknowledges the vulnerability DAY has as a small airport and tough competition but credits the revision from negative to stable in large part to the airport’s management and the region’s strong economic activity.
“The outlook revision reflects our view that DAY’s enplanement levels are stabilizing after year-over-year declines since 2013,” said the report by S&P Global Analysts Kevin Archer and Joseph Pezzimenti. “Our assessment of the enterprise risk profile as adequate reflects DAY’s very strong service area economic fundamentals, low industry risk, vulnerable market position, and strong management and governance.”
Enplanements levels have declined since 2013 due to nearby competing airports dominating the market share. While total enplanements have declined to 899,000 in 2018, DAY’s strong origin and destination nature is predicted to stabilize the enplanements at 900,000 in 2019 before increasing on average 1.5 percent each year through 2022. DAY’s management and governance is also cited in the report as a major factor in the new rating. The airport’s strategic positioning, risk and financial management in addition to organizational effectiveness were classified as strong.
“This really speaks to the power we have here as a community,” says Terry Slaybaugh, director of the Dayton International Airport. “Not only do we have a phenomenal terminal that’s easy to navigate, but Dayton’s excellent economy and people have given the future of our airport new light.”