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SFO says airport self‑supporting, defends low percentage rent model as panel weighs PR positions
Summary
Airport Director John Martin told supervisors SFO will pay a $26.2 million dividend to the general fund and is largely in agreement with budget analyst cuts; the director defended a pricing model that capped concession prices and uses lower percentage rents while the committee deferred five public‑relations positions as policy items.
Airport Director John Martin told the Budget & Finance Committee on May 20 that San Francisco International Airport remains financially self‑supporting and will pay a planned $26.2 million dividend to the general fund next year, calculated as 15 percent of concession revenue under the lease formula.
Martin reported passenger traffic down 0.6 percent year‑to‑date and described Terminal 2 as a $383 million construction project with expected San Francisco firm participation at 47 percent and 19 percent LBE…
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