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SFO forecasts higher traffic and new spending as it presents $1B operating budget and $5.7B capital plan
Summary
Airport Director Ivar Sattero told the Budget & Finance Committee that San Francisco International Airport is forecasting more than 53.6 million passengers, proposing a just‑over $1 billion operating budget for FY2017–18 (a 3.9% increase) and pressing ahead on a roughly $5.7 billion capital program that includes gate capacity, shoreline protection and noise mitigation.
Ivar Sattero, director of San Francisco International Airport, told the Budget & Finance Committee that SFO’s proposed operating budget for the coming year is just over $1,000,000,000 and reflects a 3.9 percent increase from the prior year driven primarily by staffing (32 additional positions) and higher debt service tied to the airport’s multi‑year capital program.
Sattero said passenger traffic remains a strong driver of the airport’s finances: the airport reached a peak above 51 million passengers in 2015–16 and he forecast more than 53.6 million passengers for 2016–17. The airport, he said, has pursued a major capital investment to match growth and aging infrastructure — citing a capital program he described first as $6,000,000,000 and then corrected during the presentation to $5,700,000,000 — with projects focused on gate capacity, terminal upgrades and amenities.
Why it matters: SFO is an enterprise department that does not rely on the city’s general fund for operations, but the airport does make an annual service payment to the…
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