As Americans flock to airports this Thanksgiving weekend, they may notice a lot of crowds — and, perhaps, construction. If they look beyond their travel plans, they may even spy an investment opportunity, according to Nuveen. The Transportation Security Administration is expecting one of the busiest Thanksgiving travel periods on record for the nation’s airports. It has projected it will screen 18.3 million people from Tuesday, Nov. 26, to Monday, Dec. 2. That is keeping pace with the increase in air travel demand in recent years. The TSA said passenger volumes reached record highs this year, rising 17% since 2022. Yet there hasn’t been a new commercial airport built in 50 years, according to Nuveen. That means upgrading airports by expanding terminals, as well as adding more runways, towers and gates, said Daniel Close, the firm’s head of municipals. The issuance of municipal bonds can help finance the work within the terminals, he said. Munis are favored by wealthy investors since the income earned is free from federal taxes and, if the bond is issued in the investors’ home state, free of state taxes.
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