Constructing Terminal E parking, one space at a time
For the first time in five years, there are no new parking rate increases planned at Dallas/Fort Worth Airport.
The airport’s parking revenues are expected to remain flat in its next fiscal year as more customers choose to use services like Uber and Lyft instead of parking their cars at the airport. Currently, terminal parking costs $24 a day while parking at the express and remote lots costs between $10 to $15 a day.
DFW Airport receives fees from the car-for-hire services, which is becoming a larger percentage of the airport’s ground transportation revenues. The fees have grown from 6.5 percent in 2015 to an estimated 11.5 percent for 2018.
“We want to let this shake out a little more here before we look at our [parking] rates again,” Chris Poinsatte, the airport’s chief financial officer, told the board at Tuesday’s committee meeting.
Overall, DFW Airport’s budget will grow 9 percent to $954.2 million for fiscal year 2018 which begins on Oct. 1. Most of the increase is due to higher debt service payments from bonds being issued to cover the cost of its $2.7 billion terminal renovation project. Half of the airport’s budget, $483.1 million, will be spent on debt payments next year.
The full board approved the budget at its Thursday morning meeting.
Projects in the budget include more money for custodial services in Terminals B and E and the expansion of power charging stations and wheelchair assistance in Terminal D.
The airport projects a 1.3 percent increase in passengers to 67.3 million next year, including 1.8 percent more international passengers, or 8.7 million.
For the Fourth of July holiday weekend, the airport expects its busiest day will be Friday, with an estimated 220,000 passengers traveling through the terminals.