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budget for aviation and dulles corridor enterprise funds

budget for aviation and dulles corridor enterprise funds

2012 BUDGETMetropolitan

2012 BUDGETMetropolitan Washington Airports AuthorityOPERATING REVENUES2012 RevenuesAirline terminal rentals, landing fees, and passenger fees are generated on a cost recoverybasis. Total operating revenue, including transfers for 2012, is forecasted at $727.8 million.Based on current estimates, airline revenues are expected to increase approximately 4.9percent over the 2011 Budget.MethodologyRevenue estimates for 2012 were developed after reviewing passenger activity, airlineoperations, aircraft landing weight forecasts and projected operating expenses. Airlineforecasted activity is based on an analysis of historical trends, leases, contracts, and otheragreements are also considered in these analyses. Airline rates and charges are based onfull cost recovery through the allocation of direct and indirect expenses to cost centers of theAirports Authority.Under the Airline Agreement, the Signatory Airlines’ rental fees and charges are reduced bytheir share of NRR. The Airlines’ share of NRR, referred to as transfers, is credited in theyear following the year it is earned.RentsUnder the terms of the Airline Agreement, terminal building rental rates at both of the Airportsare calculated by allocating expenses over the rentable square footage in the terminalbuildings. Airlines are then charged for the space they occupy. The operational costs ofAeroTrain are included as part of terminal rental rates at Dulles International.Non-airline rents, including hangars, airmail facilities, cargo facilities, and fueling systems, arebased on cost recovery. At Dulles International, rents for some cargo facilities are set byspecific lease provisions.Table 3-8 Budget Budget Increase/ Percent2011 2012 Decrease ChangeReagan National $ 101,520,000 $ 94,615,000 $ (6,905,000) -6.8%Dulles International 203,371,000 208,493,000 5,122,000 2.5%Total $ 304,891,000 $ 303,108,000 $ (1,783,000) -0.6%50

2012 BUDGETMetropolitan Washington Airports AuthorityLanding FeesUnder the Airline Agreement, the Signatory Airlines pay landing fees at a rate calculatedannually to recover the total costs less transfers of each Airport’s airfield cost center. Carriersthat are not signatories to the Airline Agreement are required to pay 125 percent of thecompensatory rate, i.e., the cost recovery rate before application of transfers. Other operatorsare charged the compensatory rate. Landing fees do not apply to aircraft operating ingovernment service.Table 3-9 Budget Budget Increase/ Percent2011 2012 Decrease ChangeReagan National $ 46,404,000 $ 46,569,000 $ 165,000 0.4%Dulles International 90,854,000 94,757,000 3,903,000 4.3%Total $ 137,258,000 $ 141,326,000 $ 4,068,000 3.0%Tenant Equipment ChargesThe Airlines design and construct the fit-out of their individual exclusive space in the terminalfacilities at both of the Airports. The Airports Authority has agreed to reimburse participatingSignatory Airlines for these costs. The Airports Authority, in turn, will recover these costs fromthe Airlines over a period of years through tenant equipment charges.Table 3-10 Budget Budget Increase/ Percent2011 2012 Decrease ChangeReagan National $ 2,545,000 $ 2,924,000 $ 379,000 14.9%Dulles International 1,547,000 1,028,000 (519,000) -33.5%Total $ 4,092,000 $ 3,952,000 $ (140,000) -3.4%51

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