12-07-2009
FOR IMMEDIATE RELEASE
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Expanded Revenue Sharing a Unique Feature of 5-Year Port Columbus-Airline Lease Agreement

COLUMBUS, OHIO – Port Columbus International Airport and its 10 signatory airlines recently agreed to a five-year deal that expands revenue sharing while holding down rent, landing fees and other airline charges. The new agreement, which takes effect Jan. 1, 2010, was recently approved by the Board of Directors of the Columbus Regional Airport Authority, which operates Port Columbus, Rickenbacker and Bolton Field airports.

Port Columbus airlines standing to benefit from the new agreement include Air Canada Jazz, AirTran, American, Chautauqua, Continental, Delta, Midwest, Southwest, United and US Airways.

“The airport authority’s objective is to stimulate growth while supporting our airline partners with a favorable cost environment,” said President & CEO Elaine Roberts, A.A.E. “Thanks to the collaborative spirit of our airline partners, Central Ohio passengers can be assured that the stage is set for expanded air service in the Columbus market.”

The new agreement commits the airport authority to sharing 75 percent of its annual net operating income after debt service and capital fund requirements. The revenue sharing will be paid out to Port Columbus’ signatory airlines in the form of rent credits. The feature is designed to help offset the airlines’ cost of doing business at the airport while providing an incentive for airlines to maintain and expand service. Increased activity will result in greater revenue sharing and, therefore, reduced airport charges. The previous agreement included a fixed, pre-negotiated credit regardless of net revenues to the airport. The new system allows for a larger sum to be provided to the carriers dependent upon activity levels.

In addition to the new agreement, the airport authority continues to implement cost control measures and identify new revenue sources in order to hold costs steady for its airline customers.

“Maintaining a healthy airport begins with helping to ensure the success of our vital airport partners,” Roberts said. “The airport authority believes that the new agreement will prove to be mutually beneficial and is reflective of the shared air service commitment that Port Columbus and its airlines have made to the Columbus region and its valued travelers.”

For more information about the lease agreement, the Columbus Regional Airport Authority, Port Columbus or its airlines, contact Angie Tabor, Airport Authority Manager of Communications at (614) 239-4081 or atabor@columbusairports.com.

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