"Richmond, Va., Airport Expected to See Passenger Numbers Stabilize Soon"

Wednesday, May 29, 2002

Richmond, Va., Airport Expected to See Passenger Numbers Stabilize Soon
Richmond Times-Dispatch, Va.


The number of passengers catching planes at Richmond International
Airport is expected to stabilize by this fall, providing enough
financial lift to increase operating revenue in the coming fiscal year.

The regional airport commission yesterday approved a $12.9 million
budget that's based on a modest 1.9 percent rise in passenger boardings
for the 12-month period that begins July 1.

The commission's unanimous approval came despite the most recent drop in
boarding numbers, a 16.9 percent decline in April compared with the same
month last year.

Officials noted, however, that April boardings marked a slight
improvement over the decline in March.

Overall boardings are down 16.7 percent for January through April
compared with the first four months of 2001.

"We're being very consistent in our improvement, and the trend should
continue,"said Chairman Arthur Warren of the Capital Region Airport
Commission.

Warren dismissed speculation that the airport board may be overly
optimistic in its budgeting assumptions.

"No, I think 1.9 percent is a very realistic anticipated growth,"he
said.

The growth projection is based on a year-to-year comparison that
includes the impact of Sept. 11 at Richmond International Airport and
other airports across the country.

So, even though the numbers are expected to keep rising, they will be in
comparison to numbers that fell by up to 43 percent last fall.

This September, the airport expects more than a 40 percent rise in
passengers over last September, spokesman Troy Bell said. Despite the
cautious optimism expressed at yesterday's meeting, Warren said the
financial plan does not factor in new service by Southwest Airlines, the
low-fare carrier that has said it will start service here.

The $12.9 million spending plan for fiscal 2002-03 is 6.6 percent less
than the current budget. Airport officials said a pared-down operating
budget was needed to help offset the rising cost of insurance and
repairs and maintenance.

They noted that the airport receives no local tax revenue, paying its
bills instead with money made from parking, concessions, car rentals and
aircraft landing fees.


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