Airport, Airline, and Parking Industry News

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The purpose of this blog is to compile airport parking news as well as airport news and airline news in one place for our parking customers as well as those in the parking industry. The following articles and press releases on the airport, airline, and parking industry are from various news sources and the links will take you to the source's web site:

Sunday, October 24, 2010

DFW Airport Signs New Use Agreement With Airline Partners

Oct 19, 2010 - STAR-TELEGRAM - Dallas Ft Worth Airport announced on Tuesday that it has signed a new 10-year use agreement with its partner airlines.

The airport, which had discussed the new agreement at previous board meetings, says that the contract allows DFW to retain the net revenues from parking, concessions, car rentals and other non-airline sources while airlines pay for the net operating costs of the airfield and terminal through landing fees and terminal rent.

Under the old use agreement, which has been in place since the airport opened in 1974, airlines received a portion of the non-airline revenues. "This new use agreement gives DFW and its partner airlines a solid set of financial expectations for the next decade," said chief executive Jeff Fegan. The airport had sought a new use agreement with its airlines that would boost annual contributions to DFW's capital accounts to help pay for terminal upgrades. Starting in February 2011, the airport plans to spend $1.74 billion to renovate and upgrade terminals A, B, C, and E.  Read full DFW Airport article

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