President POV
San Antonio is reaching new heights in air service and the future has never looked brighter. As we celebrate unprecedented growth and exciting developments at the San Antonio International Airport (SAT), we’re not just witnessing history—we are actively shaping it together. Our shared ambitions and achievements in air connectivity are propelling the region into a new era. From record-breaking passenger numbers to groundbreaking new routes, our region is on a journey that promises to transform our economy.
Our five-year greater:SATX regional economic development plan, implemented in 2021, identified air service development as a crucial area of support to continue fueling our region’s economic growth. Originally slated as an initiative for years four and five, we recognized its immense importance to the region and fast-tracked how we leaned in, leveraging our local business relationships to inform air service data and developing a private air service development fund. Together, with our private sector investors and partners at SAT and Visit San Antonio, and the leadership of our elected and municipal officials, this collaborative approach is already yielding impressive results. We have already secured nonstop service to Querétaro and enhanced our connections to the San Francisco Bay Area.
The launch of our first-ever nonstop trans-Atlantic service to Frankfurt with Condor Airlines is a game-changer. This flight opens a world of possibilities, serving as our gateway to Europe and beyond. Our data showed that Germany was our top unserved country market in terms of air service connectivity. With Condor's commitment for 2025 and ongoing discussions for future expansion, we're building a strong foundation for international travel.
We are on the cusp of what would be a historic breakthrough – a nonstop flight to Ronald Reagan National Airport (DCA) in Washington, D.C. This long-awaited connection would be transformative for our military community, the defense contracting sector, and business travelers. It has been a decades-long endeavor, and it took a literal act of Congress to get us to this point. American Airlines has leaned in as a partner to the region and submitted a proposal to serve the SAT-DCA route. We are optimistic about securing one of the five available slots, which would mark a significant milestone in our region's aviation history. We expect the Department of Transportation to award new DCA routes any day now.
SAT's growth is accelerating at an exhilarating pace. This summer alone, the airport has welcomed new nonstop service to Philadelphia, Burbank, and Torreón, Mexico. With 45 nonstop destinations and 85 weekly flights to Mexico, San Antonio is more connected than ever before.
Our success is a testament to our community's spirit and collective effort. Everyone plays a part in this journey as we continue to secure new routes. By choosing to fly from SAT, you're not just reaching your destination – you're helping to elevate our entire region.
Greater Together,
Jenna Saucedo-Herrera
Regional Updates
Investor Spotlight: VIA Technology
Since 1995, VIA Technology has been dedicated to providing IT solutions to clients in various industries, including construction, federal, state and local governments, educational institutions, and commercial clients. Learn more about this San Antonio company that is providing innovative technology solutions in this month’s Investor Spotlight.
Regional Partner Highlight: Cibolo
Cibolo is a community that is proud of its historic roots, responsive to residents, and innovating for its future. It has also seen incredible growth in its diversity of industry and commerce over the past five years and Cibolo residents have more options than ever to pursue meaningful careers close to home that improve their quality of life and contribute to the overall health of the community.
Cultivating the Region's Future Workforce Through Internships
For nine years, greater:SATX has facilitated an internship program that has provided work-based learning opportunities for high school and college students in the San Antonio region.
Stacy Carrizales is one of the more than a thousand interns who have participated in the SA WORX summer internship. She reflects on her internship and how it has prepared her to pursue a career in San Antonio, while also calling on more employers to participate.
In the News
SA on the clock to land long-sought DC flights: American Airlines has submitted its application to the U.S. Department of Transportation to operate daily nonstop flights from San Antonio International Airport to Washington Reagan National Airport. City leaders now have a matter ofdays to encourage business, military and hospitality industry leaders to help make their case for a route San Antonio has sought for more than a decade. It’s not clear when or if the Alamo City would get another chance to try and lock in a nonstop connection to Washington, D.C., a reality not lost on San Antonio Mayor Ron Nirenberg.
San Antonio's Victory Capital Holdings strikes accord with French company to acquire U.S. business: San Antonio’s Victory Capital Holdings Inc. is a step closer to acquiring the $104 billion U.S. business of a French money manager. Victory has reached a definitive agreement for Paris-based Amundi’s U.S. business to be combined with Victory in exchange for a 26.1% stake in thepublicly traded San Antonio asset management firm. Amundi is Europe’s largest money manager with about $2.1 trillion in assets under management. Victory has about $168.5 billion in assets under management.
Vantage Bank promotes SA market president to oversee Central Texas: Vantage Bank has tapped its former San Antonio market president to lead the Central Texas market. After a week marked by top-level shakeups at multiple regional banks around San Antonio, the McAllen-based bank announced that Curt Kruse was appointed as the regional president of Vantage Bank for Central Texas, which includes the San Antonio, Hondo and Refugio markets.
New Frost leaders will help guide growth across Texas: Dan Geddes and Clay Jones are part of the next generation of custodians for the 156-year-old San Antonio institution on the brink of a new chapter. Frost CEO Phil Green has made it clear that continued growth in San Antonio is a priority for the bank, and the city's continued population and employment growth, as well as recent economic wins bringing in large employers to the Alamo City, are all opportunities for the bank.
UTSA Career Center training students to use AI in job search: The career center at the University of Texas at San Antonio is using artificial intelligence to help students apply for jobs. In workshops and consultations, staff teach students to use two types of AI during the job search: a static AI called VMock that students can access through the university’s website, and a generative AI like ChatGPT that students can prompt. Students can upload their resumes to VMock to get feedback on its format and content.
Toyota president talks 'Project Iceberg' expansion: This latest investment is a reaffirmation of Toyota’s commitment to San Antonio that will extend beyond the new 500,000-square-foot structure. That should provide the campus and the thousands of jobs it supports greater long-term security in the Toyota chain. The plan, according to Toyota Motor Manufacturing Texas Inc. president, Susann Kazunas, is for work on the new facility to begin this summer and for the expansion to be completed by late 2026.
Report: San Antonio office market sees promising signs: San Antonio area’s office market has had a mostly positive first half of 2024, according to a commercial real estate firm surveying themarket. A CBRE report revealed a total office vacancy rate of 18.6%, and an increasing rate of absorption, which is the amount of space that is occupied within a market over a given period oftime. CBRE representatives said the San Antonio office market has seen the addition of nearly 1.4 million square feet of Class A space since 2022, reflecting 8.2% of total local office inventory.
USAA announces new CFO, more leadership changes: USAA is making a series of top-level leadership changes following the departure of its previous chief audit executive. The financial services firm headquartered in San Antonio's Med Center announced that chief financial officer Jeff Wallace will become the company's new chief audit executive. Brett Seybold, currently serving as senior vice president and senior financial officer for USAA’s property and casualty business, will replace Wallace as CFO.