Trillion Aviation

Trillion Aviation - Financial Services

Garfield Eaton

Garfield Eaton        Vice President



Professional Affiliations

Representative Assignments

Garfield has over 27 years experience in business/financial consulting and airport planning. Garfield joined Trillion in 2016 following over 3 years of experience with a financial advisory firm (Frasca & Associates, LLC). He also worked at Ricondo & Associates for 17 years, where he served as a Senior Vice President in the firm’s airport financial practice. Garfield also has over six (6) years of experience at Parsons Brinkerhoff (PB)-AvPlan and three (3) years at The Airport Technology and Planning Group (AirTech). His experience includes serving as the lead officer or project manager on several airport bond feasibility studies and assisting in the implementation of major capital improvement and infrastructure programs at over 50 airports during his career including general aviation, small, medium, and large-hub airports.

Airport Business and Financial Consulting

Garfield has a diverse background, with experience primarily in airport financial and business consulting, including the preparation of revenue bond financial feasibility studies, airport capital improvement and infrastructure implementation, revenue enhancement strategies, airline agreement preparation and negotiation, rates and charges analyses, debt capacity analyses, and passenger facility charge and rental car customer facility charge strategies. He has provided financial feasibility analyses in support of over $7 billion in airport revenue bond issuances, including developing alternative financing strategies and assessing the financial feasibility and impacts of an airport’s capital program on airline rates and charges, airport cash flow, debt service coverage, and other bond rate covenants.

Throughout his career, Garfield has assisted a number of airports in developing financing strategies for their major capital programs, with particular focus on the development of new or expanded terminals at airports such as Charlotte Douglas International, Kansas City International, Los Angeles International, Mineta San Jose International, and Southwest Florida International. Garfield has assisted in the successful renegotiation of new use and lease agreements including evaluating and modeling alternative compensatory, residual, and revenue sharing rate-setting methodologies. His experience involves developing creative approaches to establishing terminal rents and fees associated with preferential, joint, and common use facilities for gates, holdrooms, ticket counters, bag claim, and other airline-related space and equipment. As part of lease negotiations, Garfield also assessed preferential gate utilization targets, accommodation procedures, majority-in-interest (MII) language, discretionary cash targets, definitions, and other lease provisions.

Garfield has also assisted a number of airport operators in evaluating opportunities to enhance their revenue streams through improvements to existing and new non-airline revenue sources including auto parking studies, rental car facilities, cargo fee studies, new aircraft hangars, and automated vehicle identification (AVI) fee studies among others. In addition, his skills include traffic forecasting analyses and planning.

Garfield has also spoken on topics such as airport strategic planning, rental car facility financing, non-aeronautical revenue development, and airport capital planning at several American Association of Airport Executives (AAAE) and Airports Council International-North America (ACI-NA) conferences.

BS, Civil Engineering, Michigan State University, 1989

ACI-NA – Finance Committee AAAE – Finance and Administration Committee

Airline-Airport Agreement Negotiations

  • Burlington International Airport (BTV)
  • Charleston International Airport (CHS) – 2001 Agreement
  • Charlotte Douglas International Airport (CLT) – 2016 Agreement
  • Dulles International Airport (Common Use Gate/Ticket Counter Use Permit)
  • Ithaca Tompkins County Regional Airport (ITH)
  • James M. Cox Dayton International Airport (DAY)
  • Los Angeles International Airport (LAX)
  • Mineta San Jose International Airport (SJC) – 2010 Agreement)
  • San Diego International Airport (SAN) – 2013 Amendment
  • Southwest Florida International Airport (RSW) – 2007 Agreement
  • Syracuse Hancock International Airport (SYR) – 2016 Agreement

Airport Revenue Bond Feasibility Studies

  • Chicago Midway International Airport (MDW)
  • Chicago O’Hare International Airport (ORD)
  • James M. Cox Dayton International Airport (DAY)
  • Los Angeles International Airport (LAX)
  • Mineta San Jose International Airport (SJC)
  • Myrtle Beach International Airport (MYR)
  • Northwest Arkansas Regional Airport (XNA)
  • Port of Oakland - Oakland International Airport (OAK)
  • Nashville International Airport (BNA) – Consolidated Rental Car Facility

Capital Program Financial Analysis and Strategic Financial Studies

  • Boston Logan International Airport (BOS) – New Economy Parking Garage Feasibility
  • Charlotte Douglas International Airport (CLT) - $2.6 Billion 5-Year Capital Program
  • Kansas City International Airport (MCI) – Advisor to Mayoral Terminal Advisory Group
  • Los Angeles International Airport (LAX) - $6+ Billion 5-Year Capital Program
  • Mineta San Jose International Airport (SJC) – New North Concourse Feasibility
  • Southwest Florida International Airport (RSW) – New Midfield Terminal; Cost Center Studies; Rental Car Lease and CONRAC Fees
  • Worcester Regional Airport (ORF) – Economic Impact of New JetBlue Startup Service