Austin airport CFO: November passenger traffic down, revenues modestly ahead of last year

Rajeev Thomas, chief financial officer for the Department of Aviation, reported that total passenger traffic for November 2024 was about 7.4% lower than November 2023 and average daily departures fell from 271 to 240, an approximately 11% decline. He also said landed weights were down about 8.7% and cargo declined roughly 5% for the month.

Thomas told commissioners that operating revenues for November came in near $28.1 million, approximately $2.0 million higher than the same month last year, driven in part by stronger airline revenue and retail performing slightly better year over year. He said non‑airline revenues have been constrained by lower passenger volumes and noted the department was about $500,000 below its non‑airline revenue budget year to date.

On expenses, Thomas said operating expenses increased about 4% versus the prior year but the airport was approximately $857,000 favorable to budget on operating expenses year to date. He summarized the net year‑to‑date position as roughly $1.2 million better than the prior fiscal year to date.

When commissioners asked when declining trends would become a concern, Thomas said the airport typically waits until spring for a clearer signal, noting January and February are seasonally light months and that airline schedule changes tied to specific carriers (for example, the American Airlines pullback) will affect year‑over‑year comparisons. He added that if passenger growth remained flat relative to the prior year, staff estimated approximately a $5 million shortfall in non‑airline revenue versus budget.

The briefing closed with commissioners thanking Thomas and moving to the next agenda item.