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July 01, 2014

Terminal parking rate increases part of DFW Airport proposed budget

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.

-Andrea Ahles

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Comments

Greg

Perhaps the airport can install a modern system that actually has the ability to print receipts for Tolltag users when exiting.

Patrick

This is baloney. This airport makes money hand over foot and the terminal rebuild project is a disaster and major inconvenience. I try to exit there almost every Thursday evening and the traffic is a nightmare. How can this increase be stopped????
I agree with the other comment - we need receipts when using the toll tag!!! That's the only reason I don't use mine - no receipt.

gary

This is B.S., if you rember when dfw opened , the charge to use restrooms. It was about two yrs. after opening that most of the service roads were being resurfaced,because it was rakeing in more money than it could spend leagalely without reduceing landing fees, and terminal rent.

John

They have resorted to passing on the bill to the public because the resources they had for the terminal renovations..........as opposed to building new ones and tearing down old ones...... is gone. There was once A LOT of money running around there when Chesapeake was on site. Not really sure that money is gone, per say, but it sure isn't being used for airport stuff!

Wylie H.

So.... the DFW Airport Board is raising parking fees for passengers by nearly $10 million while simultaneously cutting fees for airlines (primarily American) by over $28 million?

Hmmm.... that doesn't seem quite right.

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