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Thursday, August 11, 2022
FairfaxTransportationAirports Authority seeing improvement to bottom line

Airports Authority seeing improvement to bottom line

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Improving passenger counts have led to a 37-percent increase in direct revenue from airlines and a whopping 85-percent increase in non-airline revenue for the first five months of 2022 at Northern Virginia’s two major airports.

New data from the Metropolitan Washington Airports Authority’s Aviation Enterprise Fund – which covers airport operations – showed a total of $131.7 million in direct airline revenue, up from $96.3 million during the January-to-May period of 2021.

Figures include rents, landing fees and international-arrival fees charged to carriers at Ronald Reagan Washington National and Washington Dulles International airports, as well as costs passed along to airlines for mobile-lounge transportation at Dulles.

In terms of revenue connected to aviation but not directly charged to airlines, the first-five-month total of $169.2 million in 2022 compared to $91.7 million in 2021.

Those fees include parking (up a whopping 187 percent to $51.6 million), rental-car fees (up 115 percent to $21 million), ground transportation (up 210 percent to $13.9 million), plus rents and other fees charged to retailers, restaurants and the like. (In a sign that international travel is beginning to be restored, foreign-currency-conversion fees rose 422 percent to $129,915 during the first five months of 2022.)

Total airport-operation revenue for the five-month period was $300.9 million, up 60.1 percent, while operating expenses stood at $157.4 million, up 4 percent. Factor in depreciation, amortization and non-operating expenses, and when it comes to airport operations, the authority had an operating income of $30.5 million for the first five months of 2022, compared to a loss of $65.9 million during the same period in 2021.

Figures were reported to the authority’s board of directors on July 20. They are separate from other Airports Authority budget buckets, including operation of the Dulles Toll Road and supervision of the Metro system’s Silver Line’s construction.

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