FAQs
ASE Airport Modernization Facts: August 2025
Following years of planning and voter approval in November 2024, the Aspen/Pitkin County Airport (ASE) Modernization Program is moving into the design phase.
The project’s centerpiece is a new passenger terminal to better serve travelers, locals and airport staff. Over the next 18 months, a new terminal will be designed to reflect the community-led and values-driven “Common Ground Recommendations” adopted by the Pitkin County Board of County Commissioners (BOCC) in December 2020. Sign up for modernization project updates and public engagement opportunities, click here>>
Project Timeline and Milestones
Anticipated over five years, from 2025 to 2029, the phased project schedule is designed to minimize impacts to travelers, residents, and local businesses.
Design work will begin this year with the goal of limiting a full runway closure to a single construction season – currently scheduled to start in Spring 2027.
The accelerated schedule is ambitious and will require significant resource commitments to complete the runway reconstruction by the end of 2027. Below is a summary of project status:
Where We’ve Been
- ASE Vision Common Ground Recommendations adopted by BOCC (Dec. 2020)
- Airport ballot initiatives pass with significant support (Nov. 2024)
- Program Management Plan established to define scope, schedule and cost estimates
- Procure passenger terminal (ZGF Architects) and airfield (Kimley Horn) design teams
- Establish advisory task forces for terminal design and multi-modal transportation
- Environmental approval completed (Aug. 2025)
- BOCC approves bond initiative for airport redevelopment (Aug. 27, 2025)
Where We’re Going
- Without imposing any new tax, ballot initiative for airport bonds (Nov. 4, 2025)
- Pursue and secure FAA funding approvals (after Supplemental EA is approved)
- Design new runway and new terminal (mid 2025 – late 2026)
- Hire construction contractors for runway (early 2026) and terminal (mid 2026) projects
- Close airport to reconstruct runway and start terminal construction (early/mid to late 2027)
- Anticipated completion of the new terminal by 2029, at which time the existing terminal will be deconstructed
Estimated Cost and Financial Planning
The total program cost is currently estimated at $575 million and is subject to change. Many project components are eligible for FAA funding; for example, the runway project may receive up to 90% of the total airfield project cost.
Outside grant funding and revenue from the Fixed Base Operator private aviation lease will offset the amount of debt and local funding required from the existing airport enterprise fund. No new taxes or tax rate increases will be considered for this project.
On Wednesday, August 27, 2025, the BOCC approved a Ballot Issue Resolution to issue bonds for the Aspen/Pitkin County Airport Redevelopment. Below are several frequently asked questions related to the bond initiative:
Why is bond funding needed for the airport?
First and foremost, no new taxes or tax rate increases are associated with this project. Following years of planning and voter approval in November 2024, the Airport Modernization Program is moving forward. While FAA grant funding may cover up to 90% of airside/runway costs, the project’s centerpiece is a new passenger terminal which requires additional local funding without imposing any new tax or increasing any tax rate.
How much is the bond and how will it be repaid?
To facilitate the redevelopment of the airport and build a new passenger terminal, a ballot issue will need to be placed before the electorate at the November 4, 2025, election, asking for voter approval to issue debt. Specifically, this will be in the form of revenue bonds not to exceed $340 million. The bonds will be secured and repaid using Airport Fund revenues, namely fees and charges, as well as revenue from the Atlantic Aviation Fixed Base Operator 30-year lease. There are no new taxes or tax rate increases associated with this project.
How can I learn more and get involved?
The ASE Modernization design phase will offer numerous opportunities for the traveling public and residents to learn about the process and share feedback, including public meetings, open houses and presentations. To stay informed about the range of community engagement opportunities, sign up for the ASE newsletter and learn more at www.AspenAirport.com/Modernization.
To download the August 2025 fact sheet, click here >>
ASE Modernization Bond Issue FAQs: August 2025
Why is bond funding needed for the airport?
First and foremost, no new taxes or tax rate increases are associated with this project. Following years of planning and voter approval in November 2024, the Airport Modernization Program is moving forward. While FAA grant funding may cover up to 90% of airside/runway costs, the project’s centerpiece is a new passenger terminal which requires additional local funding without imposing any new tax or increasing any tax rate.
How much is the bond and how will it be repaid?
To facilitate the redevelopment of the airport and build a new passenger terminal, a ballot issue will need to be placed before the electorate at the November 4, 2025, election, asking for voter approval to issue debt. Specifically, this will be in the form of revenue bonds not to exceed $340 million. The bonds will be secured and repaid using Airport Fund revenues, namely fees and charges, as well as revenue from the Atlantic Aviation Fixed Base Operator 30-year lease. There are no new taxes or tax rate increases associated with this project.
How much will the project cost?
Total program cost is estimated at approximately $575 million. This planning level cost estimate will continue to be refined as the design of the project advances, but underscores the complexity and size of the airport redevelopment effort. Some project components are eligible for a considerable amount of FAA funding; for example, the runway project may receive up to 90% of the airfield project cost. There will be no new taxes or tax rate increases associated with this project.
How will the project impact airport fees and costs for public airport users?
The airport redevelopment project will require an increase in charges and fees for commercial airline operators, such as gate and landing fees, as well as increases in parking, rental car and other vendor lease fees. The estimated fee increases will be based on comparable market rates.
How does the Fixed Based Operator (FBO) contribute revenue to the Airport Fund?
In 2024, a 30-year lease agreement was signed with Atlantic Aviation as the airport’s Fixed Base Operator (FBO). Revenues from this agreement are estimated to start at $20 million per year with revenue growth throughout the term of the lease. These funds which originate from both commercial and private aviation will contribute to the airport’s ability to secure and repay the bonds without any new taxes or tax rate increases.
What is the project schedule?
The project schedule is structured in phases to minimize impacts to travelers, residents, and local businesses. In addition to a new terminal, the plan includes a redesigned airfield. Design work will begin this year with the goal of limiting a full runway closure to a single construction season – currently scheduled to start in Spring 2027. This accelerated schedule is ambitious and will require significant resource commitments to complete the runway reconstruction by the end of 2027.
How will construction phasing work for the new terminal?
The existing terminal could remain open while the new terminal and runway are under construction. This could allow for limited capacity for uses such as parking and rental car services during the runway construction and for passenger accommodation once the runway work is complete. The new terminal is anticipated to be completed by 2029, at which time the existing terminal will be deconstructed.
To download the ASE Modernization Bond Issue FAQs: August 2025, click here >>
ARCHIVE FAA Q&A 6/3/2024
Updated Q&A with The Federal Aviation Administration
Would the FAA approve an Airport Layout Plan (ALP) that maintains ASE’s current runway geometry and modification of standards if the County commits to pay for construction/reconstruction without accepting future FAA grants?
FAA Response: No. The FAA will not approve an ALP at ASE that does not meet the 400’ runway/taxiway separation standard. In 2013, Pitkin County submitted an ALP update showing 320’ runway/taxiway separation on the west side of the airfield. We responded with the following in the ALP approval letter:
The FAA’s approval of this ALP does not apply to the proposed runway/taxiway separation distance of 320’ on the west side of Runway 15/33. FAA is evaluating this nonstandard separation distance and will continue to coordinate the issue with Pitkin County.
The FAA approved the current ALP, submitted by Pitkin County, on May 17, 2016, which showed a path forward to meet the 400’ runway/taxiway separation standard. Pitkin County’s submission of the May 17, 2016, ALP demonstrates that is practical to meet standards at the existing airport site. The FAA will not approve any future ALPs that do not meet the 400’ runway/taxiway separation standard.