2020 Comprehensive Annual Financial Report

Piedmont Triad is home to nearly 200 aerospace companies including; Honda Aircraft, HAECO Americas, Cessna, North State Aviation, B/E Aerospace, Honda Aero and Federal Express. The Authority provides a complete line of aviation services, including air taxi service, aviation training and aircraft sales. Major passenger carriers include Delta, United, American, Allegiant and Spirit. The number of people flying from PTIA in 2019 continued to grow, resulting in a 14.8% increase. For the calendar year ending December 31, 2019, PTIA boarded 1,078,247 passengers, marking 2019 the first time PTIA surpassed 1 million since 2008, when 1,109,100 passengers were boarded. Cargo traffic at the airport was up 36% in 2019, largely due to added service at the PTIA Mid-Atlantic FedEx hub. Passenger and cargo traffic for the six months ended June 30, 2020 were down 58% and 27%, respectively, compared to the same period last year, as a result of the impact from the coronavirus pandemic. Despite decreased passenger count, PTIA is moving forward with jet way foundation construction and installation of five used jet ways purchased for approximately $1.1 million. The jet ways will be installed at gate locations that currently operate without the use of enclosed pedestrian bridges from terminal to aircraft. The aviation industry is one of the critical business sectors of the Triad’s economic development strategy. With the ongoing collaboration of the public and private sector organizations and the educational community, the Triad is poised for strong future growth in aeronautics. Local aviation-related businesses draw heavily from the aviation workforce-training program at Guilford Technical Community College (GTCC) whose program has grown steadily in recent years. In 2014, GTCC completed a $10 million facility on a 23-acre campus at PTIA called Aviation III, to house its aviation management and pilot programs as well as customized industry training. The addition of the new facility allows GTCC to expand training to approximately 900 students each semester. GTCC’s aviation program is one of the largest in North Carolina and serves as a model for other community colleges. The college recently added a fifth degree program to GTCC’s aviation training, aero structures manufacturing and repair, that will prepare students for specialization in an industrial and advanced manufacturing setting.

Honda Aircraft Company , a division of Honda Motor Company, has invested $155 million to establish its world headquarters at the 130-acre campus at PTIA in Greensboro and a total capital investment in its North Carolina operations of more than $245 million. With manufacturing, testing, training, maintenance and customer service facilities, the company is headquartered at its PTIA campus. Following 12 years of

design and testing, the HondaJet HA-420, a lightweight 7-passenger jet, received all required FAA certifications and sold its first HondaJet in 2015. Subsequently, HondaJet has received certifications worldwide and has established a dealer and sales network to provide service and support globally. In 2018, HondaJet unveiled and began delivery of their latest aircraft, the HondaJet Elite. The new aircraft provides improved flight range with an auxiliary fuel tank, increased payload, reduced vibration and cabin noise, enhanced avionics, and greater cabin space. The company is currently constructing a $15.5 million, 83,000 square-foot facility that will house the new wing-assembly process for the HondaJet Elite, said to be the fastest, farthest and highest-flying plane in its class. The new facility will provide capacity for more wings to be assembled concurrently and allow for additional storage of service parts for the growing fleet of HondaJets worldwide. In 2019, the company embarked on diversification of uses for the HondaJet Elite with the inclusion of medevac configurations in air ambulances. For 2019, HondaJet was named the most-delivered jet in its category for the third consecutive year by the General Aviation Manufacturers Association, delivering 36 aircraft to its

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