Jay Leno hypes up Burbank Airport bond sale to muni investors

Clad in denim and sitting behind the wheel of a 1930 Duesenberg, the renowned TV personality and car enthusiast promoted an upcoming bond deal in a video for Hollywood Burbank Airport — giving a twist to the typically-staid marketing roadshow for potential investors. 

The Burbank-Glendale-Pasadena Airport Authority has enlisted Leno to help sell some $379 million in airport revenue bonds to finance its terminal relocation project. The new 355,000 square-foot terminal is scheduled to open in October and see heavy use in coming years, due in part to an expected influx of passengers coming through Los Angeles for the 2027 Super Bowl and the Summer Olympics a year after. 

Leno’s car collection is housed in a hangar next to the Burbank facility, making him a “friend of the airport” and natural choice for a pitchman, John Hatanaka, the airport’s executive director, said in an interview. 

Located less than 30 minutes from Los Angeles and about an hour from Disneyland California, the airport sits at the center of the “Valley of the Stars,” a long-standing hub for film and television production. The surrounding area is home to a population of Hollywood employees who work at major studios and networks, including The Walt Disney Company, Nickelodeon, Netflix and NBCUniversal.

The airport broke ground in 2024 to construct the new terminal. Hatanaka said a big driver for making the marketing video — which was filmed at the construction site — was to showcase the progress they’ve made in developing the terminal. 

In the clip, Leno said Burbank is “an oasis” in the middle of Los Angeles, which he called a “crazy city with homelessness and crime and taxes.” 

“This is being built by a union crew on time and on budget. When does that ever happen?” Leno asks. 

The video does include a disclaimer that the views are for information purposes, and do not constitute investment advice.

Earlier this month, Fitch Ratings assigned the airport authority an A- rating, citing “BUR’s secondary position in the large, strong and affluent, but competitive Los Angeles basin service area.” The rating agency said growth at the airport has stemmed from airlines expanding routes and increasing capacity.

Bank of America Corp. is the lead underwriter on the bond offering. The bank declined to comment.

While the deal is expected to price on May 5, Hatanaka said it could come a few days sooner due to market conditions.  

“The geopolitical situations are high right now so we’re watching with our banks as to what the best timing might be,” he said.