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ACI-NA Recognizes the 2016 Airport Finance Professionals of the Year
ORLANDO, FL – Airports Council International-North America (ACI-NA) today announced the recipients of the 2016 ACI-NA Finance Professional of the Year Award. The recipients include finance professionals from the Port of Portland, Metropolitan Nashville Airport Authority, and Spokane Airports.
“With more than $75 billion in airport infrastructure investment through 2019, airport finance professionals have one of the toughest jobs in the industry,” says ACI-NA President and CEO Kevin M. Burke. “These professionals must find innovative and strategic ways to fund the necessary capital needs projects that accommodate growth in passenger and cargo activity, rehabilitate existing facilities, and grow non-aeronautical revenue. ACI-NA is pleased to recognize the 2016 Airport Finance Professionals of the Year.”
The recipients were announced during an awards gala dinner at the 2016 ACI-NA Business of Airports Conference in Orlando, FL, which was attended by nearly 500 commercial management, human resource, and finance executives from the North American airport industry.
Large Hub Finance Professional of the Year: Cindy Nichol, Port of Portland
With a passion for aviation and airport finance, Cindy Nichol leads a team at the Port of Portland with a mission to provide value-added service to help the Port make sound business that build its financial strength. In return, Portland International Airport has seen incredible passenger growth and financial success due to the improved economy, governance structure as an authority, trusting relationships with airlines and tenants, and development of programs that promote innovation and attract new businesses. Nichol’s most important contribution has been to conduct a comprehensive update to the airport’s affordability analysis resulting in the production of a campaign to inform their internal business partners about the exciting but financially challenging outlook for the airport. As a past chair of the ACI-NA Finance Committee, she has worked diligently with ACI-NA and other airport CFOs to try to effect changes in federal legislation, regulations, and policies that will positively affect the financial future of the aviation industry.
Medium Hub Finance Professional of the Year: Stan Van Ostran, Metropolitan Nashville Airport Authority
As the Chief Financial Officer for the Metropolitan Nashville Airport Authority, Stan Van Ostran has improved the financial strength of the Metropolitan Nashville Airport Authority. During his tenure, the Authority’s operating revenues jumped from $76 million to $119 million and operating income growing from $26 million to $46 million. In addition, Van Ostran has championed significant financial milestones for the Authority. He has negotiated a new airline use-and-lease agreement, issued $200 million in bonds in December 2015, and achieved the lowest interest rate of any “A” rated airport. Van Ostran is an active member of ACI-NA serving on multiple committees. He is the past chair of ACI-NA’s Risk Management Committee.
Small Hub Finance Professional of the Year: Dave Armstrong, Spokane Airports
For the last five years, Dave Armstrong has served as the Director of Finance for the Spokane Airports. Armstrong has been instrumental in leading the transformation of the Airports’ accounting and finance systems and procedures in preparation for an updated airline agreement and air cargo landing agreement. Currently, he serves as the Chair of the ACI-NA Finance Committee.
Airports Council International-North America (ACI-NA) represents local, regional, and state governing bodies that own and operate commercial airports in the United States and Canada. ACI-NA member airports enplane more than 95 percent of the domestic and virtually all the international airline passenger and cargo traffic in North America. Approximately 380 aviation-related businesses are also members of ACI-NA, providing goods and services to airports. Collectively, U.S. airports employ more than 1.3 million people and account for $1.2 trillion in economic activity—or seven percent of the total U.S. workforce and eight percent of GDP. Canadian airports support 405,000 jobs and contribute C$35 billion to Canada’s GDP.