Official Statement Airport Commission City and County of San ...

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International Enplanements. International enplanements during Fiscal Year 2008-09 totaled 4,221,214, a decrease of 7.6% compared to Fiscal Year 2007-08. During the first six months (July through December) of Fiscal Year 2009-10, international enplanements decreased by 60,089 (-2.7%) compared to international enplanements during the first six months (July through December) of Fiscal Year 2008-09. International enplaned passengers at the Airport during December 2009 was 344,467, a decrease of 4.9% compared to December 2008. INTERNATIONAL ENPLANEMENTS BY AIRLINE † (Fiscal Years) % of First Six Months (July through December) Airline 2004-05 2005-06 2006-07 2007-08* 2008-09* 2008-09* (1) 2008-09* 2009-10* United Airlines (2) Air Canada (3) 1,407,326 1,493,949 1,602,835 1,602,837 1,518,159 36.0% 806,311 749,195 276,063 294,189 304,697 299,111 273,870 6.5 146,935 154,160 Cathay Pacific Airlines 122,050 122,106 123,209 209,269 225,033 5.3 110,186 112,198 Lufthansa Airlines 208,014 218,875 229,988 210,009 205,397 4.9 105,099 109,053 British Airways 215,515 219,630 215,231 210,877 203,875 4.8 108,053 106,039 Singapore Airlines 181,401 198,100 196,350 184,504 167,300 4.0 90,164 82,058 EVA Airways 124,246 142,180 153,162 153,203 141,140 3.3 74,631 74,850 China Airlines 122,004 128,159 128,259 121,574 116,172 2.8 55,005 60,232 Philippine Airlines Virgin Atlantic Airways (4) Alaska Airlines (5) 120,146 120,087 126,437 128,298 114,808 2.7 58,736 50,937 – – – – 106,266 2.5 54,846 55,965 194,882 207,445 205,490 216,222 – – – – SUBTOTAL 2,971,647 3,095,343 3,208,758 3,335,904 3,072,020 72.8 1,609,965 1,554,687 All others 957,784 1,051,560 1,136,246 1,230,111 1,149,194 27.2 610,250 605,439 TOTAL 3,929,431 4,146,903 4,345,004 4,566,015 4,221,214 100.0% 2,220,215 2,160,126 Percentage Change __________________ 6.5% 5.5% 4.8% 5.1% (7.6%) (2.7%) † Restated. * Preliminary. (1) Column does not total due to rounding. (2) Restated. Data has been restated to include enplanements for SkyWest Airlines/United Express-Canada. (3) Includes enplanements for Air Canada Jazz, the Air Canada regional affiliate brand. (4) Virgin Atlantic Airlines was not one of the 10 most active airlines at the Airport by international enplanements during Fiscal Years 2004-05 through 2007-08. (5) Alaska Airlines was not one of the 10 most active airlines at the Airport by international enplanements during Fiscal Year 2008-09. The decline in international enplanements is primarily due to discontinuance of service to three destinations in Mexico since May 2008 and discontinuance of service to Canada since August 2008. Alaska Airlines continues service to two destinations in Mexico. Source: San Francisco Airport Commission. Compared with the first six months (July through December) of Fiscal Year 2008-09, enplanements to Asia and the Middle East decreased by 3.2% (representing 9.9% of total enplanements and 45.0% of international enplanements); enplanements to Canada increased by 1.7% (representing 3.2% of total enplanements and 14.7% of international enplanements); enplanements to Europe decreased by 6.3% (representing 5.7% of total enplanements and 26.2% of international enplanements); enplanements to Mexico, the Caribbean and Central America increased by 0.03% (representing 1.8% of total enplanements and 8.2% of international enplanements); and enplanements to Australia and Oceania increased by 4.3% (representing 1.3% of total enplanements and 5.8% of international enplanements) during the first six months (July through December) of Fiscal Year 2009-10. Compared to December 2008, enplanements to Asia and the Middle East decreased by 0.7% (representing 11.3% of total enplanements and 51.1% of international enplanements); enplanements to Canada decreased by 11.4% (representing 2.5% of total enplanements and 11.5% of international enplanements); enplanements to Europe decreased by 16.5% (representing 4.4% of total enplanements and19.7% of international enplanements); enplanements to Mexico, the Caribbean and Central America increased by 7.6% (representing 2.6% of total enplanements and 11.6% of international enplanements); and enplanements to Australia and Oceania decreased by 3.1% (representing 1.4% of total enplanements and 6.2% of international enplanements) during December 2009. 52
INTERNATIONAL ENPLANEMENTS BY DESTINATION (Fiscal Years) First Six Months % of 2008-09 (July through December) International Total Destination 2004-05 2005-06 2006-07 2007-08* 2008-09* Enplanements* † Enplanements* (1) 2008-09* 2009-10* Asia/Middle East 1,842,975 1,915,999 1,984,911 2,102,630 1,913,830 45.3% 10.5% 1,005,617 972,971 Europe 1,079,706 1,091,871 1,105,556 1,172,857 1,134,359 26.9 6.2 604,967 566,961 Canada 510,172 564,028 634,381 650,149 585,492 13.9 3.2 311,671 317,008 Mexico/Caribbean/ Central America 357,066 402,001 380,016 393,747 358,282 8.5 2.0 177,739 177,797 Australia/Oceania 139,512 173,004 240,140 246,632 229,251 5.4 1.3 120,221 125,389 TOTAL 3,929,431 4,146,903 4,345,004 4,566,009 4,221,214 100.0% 23.2% 2,220,215 2,160,126 Percentage Change 6.5% 5.5% 4.8% 5.1% (7.6%) – (2.7%) __________________ * Preliminary. (1) Column does not total due to rounding. (2) Includes Emirates Airlines services to Dubai which commenced in December 2008. Source: San Francisco Airport Commission. 53
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SAN FRANCISCO INTERNATIONAL AIRPORT
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2010A BONDS MATURITY SCHEDULE The i
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Information Provided by the Commiss
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Page Page VERIFICATION OF MATHEMATI
Page 10 and 11: The 2010A Bonds will be secured by
Page 12 and 13: Maturity Date (May 1) 2011 2012 201
Page 14 and 15: Interest on the 2010A Bonds will be
Page 16 and 17: Mandatory Sinking Fund Redemption T
Page 18 and 19: Redemption of Credit Provider Bonds
Page 20 and 21: SPECIAL CONSIDERATIONS RELATING TO
Page 22 and 23: “Operation and Maintenance Expens
Page 24 and 25: Fifth, to pay for necessary reconst
Page 26 and 27: Letter of Credit Upon the delivery
Page 28 and 29: Pooled Reserve Account The 1991 Mas
Page 30 and 31: No Acceleration The Bonds are not s
Page 32 and 33: LETTER OF CREDIT AND REIMBURSEMENT
Page 34 and 35: appealable judgment, to be null and
Page 36 and 37: In addition to revenues received fr
Page 38 and 39: In addition to these regulatory act
Page 40 and 41: Each of Moody’s, Standard & Poor
Page 42 and 43: Initiative, Referendum and Charter
Page 44 and 45: Jackson J. Wong was appointed Chief
Page 46 and 47: that supports all airlines in the I
Page 48 and 49: from $1.50 to $4.00. The Airport is
Page 50 and 51: Airport Security In the immediate a
Page 52 and 53: � United Airlines commenced daily
Page 54 and 55: The following table lists the air c
Page 56 and 57: During Fiscal Year 2008-09 approxim
Page 58 and 59: Domestic Enplanements. During Fisca
Page 62 and 63: Cargo Traffic and Landed Weight Car
Page 64 and 65: TOTAL LANDED WEIGHT BY AIRLINE †
Page 66 and 67: Settlement Agreement Under the Sett
Page 68 and 69: Expiration of the Settlement Agreem
Page 70 and 71: the beneficiaries (the people of th
Page 72 and 73: Hazardous Material Management Envir
Page 74 and 75: SUMMARY OF AIRPORT FINANCIAL RESULT
Page 76 and 77: Aviation Market Stimulus Program In
Page 78 and 79: On November 21, 2006, Travelex, the
Page 80 and 81: PRINCIPAL AIRPORT CONCESSIONAIRES
Page 82 and 83: Off-Airport Parking Facilities Seve
Page 84 and 85: INTEREST RATE SWAP POLICY MAXIMUM N
Page 86 and 87: The table below summarizes the inte
Page 88 and 89: SUMMARY OF PAYMENTS MADE BY THE AIR
Page 90 and 91: Voter Approved Changes to the Retir
Page 92 and 93: A decline in the actuarial value of
Page 94 and 95: Postemployment Health Care Benefits
Page 96 and 97: Under the Treasurer’s current inv
Page 98 and 99: Debt Service Requirements The follo
Page 100 and 101: Current and Future Financings Capit
Page 102 and 103: Other Matters In the regular course
Page 104 and 105: federal, state or local tax liabili
Page 106 and 107: MISCELLANEOUS This Official Stateme
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Introduction APPENDIX B INFORMATION
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APPENDIX C SUMMARY OF CERTAIN PROVI
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Closing Date means the date upon wh
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Interest Payment Date means each da
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the Trustee for cancellation; (b) B
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payment agreement with the United S
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Special Facility means any existing
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Revenue Fund; Allocation of Net Rev
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Moneys in the respective accounts i
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Investments are allocated. Amounts
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Subordinate Bonds The Commission ma
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act or thing the effect of which wo
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filing of any such petition or to t
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moneys, funds and properties pledge
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The recitals, statements and repres
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The Trustee or the Paying Agent, as
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to or greater than the Credit Facil
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(a) such 2010A Bonds sold by the Re
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The Remarketing Agent The Remarketi
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APPENDIX D SUMMARIES OF CERTAIN PRO
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computations made in accordance wit
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APPENDIX E SUMMARY OF CERTAIN PROVI
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statement, it must be available fro
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Duties, Immunities and Liabilities
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APPENDIX F INFORMATION REGARDING TH
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Ambac Assurance’s consolidated fi
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Capitalization of AGM At September
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The available amount of each MBIA s
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complaint also alleges that certain
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APPENDIX G PROPOSED FORM OF OPINION
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APPENDIX H JPMORGAN CHASE BANK, NAT
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The Available Amount (as hereinafte
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JPMorgan Chase Bank, National Assoc
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IN WITNESS WHEREOF, this Certificat
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(ii) $_______________________ is de
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The undersigned Transferor acknowle
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The Bank of New York Trust Company,
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The Bank of New York Trust Company,
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