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Jacksonville Aviation Authority Posts Positive Results Despite Difficult Business Environment
During its October board meeting, the Jacksonville Aviation Authority (JAA) announced that unaudited operating income climbed 10% for the fiscal year ended Sept. 30, 2013.
The aviation authority recorded total operating revenue of $66.4 million. Total operating expenses were $44.5 million for the year, resulting in an operating income, before depreciation, of $21.9 million. Operating income for the prior fiscal year was $17.3 million.
JAA owns and manages the city’s four airport properties: Jacksonville International Airport (JAX), Cecil Airport, Jacksonville Executive at Craig Airport (JAXEX) and Herlong Recreational Airport.
JAA Chief Financial Officer Richard Rossi said the authority was able to achieve these positive results despite a challenging commercial airline environment and current weak economy. Total passenger activity at JAX experienced a 3 percent decline from 5.2 million travelers in the previous year to 5.1 million this year.
JAA benefited from a diverse mix of airlines serving JAX, new airport concessions and other non-aviation revenues. Jaa kept tight control of expenses, ending FY13 with operating expenses under budget by $1.9 million, or 4%.
“JAA has developed a financially successful business model,” Rossi noted. “Our entire team has once again turned in a tremendous performance by increasing revenue and holding down costs.”