Friday, May 5, 2017
DFW Airport faces $10 million shortfall as Uber, Lyft hurt parking revenue
Fewer travelers than expected are parking at Dallas/Fort Worth Airport this year, leaving a hole in the airport’s budget.
At the mid-point in its fiscal year, DFW’s parking revenues, while up over last year, are $3.9 million less than the airport had projected. As a result, executives told the airport board Thursday, they’re forecasting a $10 million budget shortfall, primarily due to parking.
“Originating customers were below planning and those are the customers who park,” said Sean Donohue, the airport’s chief executive.
Another factor, he said, are more people using services like Uber and Lyft to get to the airport. “That’s clearly had an impact and we made a mistake of having too aggressive of a budget,” he said.
The airport had budgeted to collect $80.7 million in parking revenues for the first six months of the fiscal year, which ends Sept. 30. So far, the airport has collected $76.9 million.
To compensate for the lower revenues, Donohue said the airport has deferred some technology projects by six to nine months.
“None of [the deferred projects] impact the customer experience. They don’t impact safety and security,” Donohue said.