Revenues Up, Expenses Down

Although its primary tenant, US Airways, plans to reduce its flights and diminish service... Pittsburgh International Airport officials say the airport is weathering the storm, and aims only for positive changes after the holiday season influx.

"Financially, the airport is sound," said Allegheny County Airport Authority CEO Bradley Penrod, according to the Pittsburgh Business Times.

Increased revenues, under-budget operations and other business venues are pumping money into the airport.

Through October, the airport's revenue is $116 million -- up $6 million over 2006, according to Penrod. Expenses are $5.6 million under budget. The airport is projected to hit $140 million in revenue in 2007.

As ANN reported, US Airways announced in early October it would drastically cut back its operations at PIT, effective in January 2008 -- a move that will both reduce flights, and affect nearly 1,000 jobs. US Airways CEO Doug Parker said the carrier made the move in the face of "economic realities."

"We need to acknowledge the economic realities of today and move forward so that our Pittsburgh service provides a positive contribution to our system as a whole," Parker said at the time.

Well, don't tell PIT that. Adding to the airport's total revenue increases are parking and rental car income that has already beat 2006 totals, reaching more than $20 million and $1.1 million through October, respectively.

The question remains, though, how will PIT be affected once US Airways cuts back. Despite planned reductions, however, the carrier will remain the largest presence at PIT.

FMI: www.pitairport.com