DFW Airport plans parking rate increases in October

Posted Wednesday, Jul. 10, 2013  comments  Print Reprints

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Dallas/Fort Worth Airport plans to increase parking rates at its terminal and remote lots as part of its budget for 2014.

At the airport’s finance committee meeting Tuesday, Chief Executive Jeff Fegan presented the $656.3 million budget, which included the parking increases. Generating more revenue from parking and concessions is part of the airport’s plan to help finance its $2 billion terminal renovation project.

Fegan said the airport expects 2 percent growth in passengers, to a record 61.2 million in fiscal 2014, and a record number of international flights. The pending merger between US Airways and American Airlines will also result in positive growth, he said.

DFW Airport expects parking rate increases to generate an additional $3.7 million in revenue.

The airport staff proposed raising remote parking lot fees by $1, to $9 a day, and increasing the fee for vehicles at the airport for up to 30 minutes from $1 to $2. People who are picking up passengers and take 31 minutes to two hours will pay $3, up from $2.

However, TollTag rates for those quick stops will remain unchanged.

“The goal is to convert to more TollTag usage by customers,” airport Chief Financial Officer Chris Poinsatte said.

The airport expects its new parking control system, which has more automated entry and exit lanes and fewer booth attendants for cash payments, to go live Aug. 26.

If the full board approves the budget Thursday, the parking increases will take effect Oct. 1, the first day of the airport’s fiscal year.

DFW also expects to generate an extra $1.7 million from an addition to its Express parking and an extra $5.2 million from concession revenue, since new food vendors in the renovated portion of Terminal A will be in operation for a full year.

The $656.3 million budget, which includes $5 million for a contingency fund, is only slightly higher than the current $650.1 million budget outlook for 2013. The airport expects revenue from nonairline sources to grow 4.7 percent to $91.8 million.

Costs to airlines will also rise $19.4 million, mainly to help pay for the debt service related to the renovations of Terminal A, B, C and E. Landing fees, however, will shrink to $2.82 per l,000 pounds of maximum gross landing weight. In the current fiscal year, landing fees averaged $2.97.

Operating expenses are forecast to increase 2.4 percent to $368.8 million in the fiscal 2014 budget.

The airport’s gross debt service is 2.6 percent lower at $282.5 million, thanks to refinancing and lower interest rates.

Andrea Ahles, 817-390-7631 Twitter: @Sky_Talk

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