Parking close to your flight’s gate could get more expensive this fall.
The Dallas/Fort Worth Airport is proposing a $2 parking rate increase for customers who park at the terminal parking garages as part of its budget for fiscal year 2015 which begins on October 1. The airport wants to increase the daily rate for terminal parking to $22 for credit card and cash payers and to $20 for Tolltag users.
It also wants to increase intra-daily terminal rates to $9, up from $7 for cars parked between four and six hours and to $6, up from $5 for cars in the terminal garages from two to four hours. Tolltag users would also pay the same $3 rate for 30 minutes to 2 hours as credit card and cash drivers. The rate increases are expected to generate an additional $9.8 million for the airport, DFW Airport chief financial officer Chris Poinsatte told the board on Tuesday.
"We are going to use these rate increases to cover our debt service on our parking investments," Poinsatte said, refering to the new parking garages being built at Terminal A and Terminal E and parking guidance systems that help drivers find open parking spaces in the garages.
Parking rates at the airport’s remote and express lots and for valet parking will not change. The airport implemented parking rate increases for valet and for cars parked up to 30 minutes in its last budget but did not implement the increases until March 1 as it dealt with technical problems in its new automated parking control system.
In the proposed FY 2015 budget, the airport expects to handle a record 62.6 million passengers and a record number of international seats. The growth is primarily due to new flights added by American Airlines and the addition of foreign carriers such as Qatar Airways and Etihad Airways.
"We are on target to generate $100 million in revenues for the airport for the first time ever in its history," said airport chief executive Sean Donohue at the finance committee meeting on Tuesday.
The airport is budgeting for $103.2 million in net revenues in its cost center, generated from parking and concessions, which is $6.7 million more than the airport expects to generate this year. With the extra revenues, the airport expects to lower landing fees, saving airlines $28.7 million.
However, the airport’s total budget is expected to increase $78.3 million to $724.7 million primarily due to higher debt payments, which are anticipated to be $333.3 million. DFW has continued to issue more debt as it renovates its terminals in a $2.3 billion construction project. Its operating expenses will be about 5 percent higher than fiscal year 2014 as the staff is recommending a 3 percent merit raise pool and expects higher costs for utilities and health care.
The full board is expected to vote on the proposed budget at its meeting on Thursday.