Denver International Airport Reports Record Revenue in 2013

DENVER — June 19, 2014 — Denver International Airport’s (DIA) operating revenue increased by 5.9 percent in 2013, despite the decline in passenger traffic of 1.1 percent from the previous year.

DIA’s operating revenues were $661.6 million for the year ending Dec. 31, 2013, an increase of $37 million, or 5.9 percent, compared to the year ending Dec. 31, 2012. The increase in revenue was primarily driven by growth in nonairline revenue of 10 percent over the prior year. Origination and destination (O&D) passenger traffic grew by 3.9 percent, which contributed to the increase in concession, parking and car rental revenue. Nonairline revenue has continued to grow at DIA each year since 2009, and in 2013, parking, concession, car rental and other sales revenue to DIA totaled $281.7 million. Parking ($159 million), concession ($52 million), and other sales revenue ($20 million) were at their highest levels in 2013.

“For the third consecutive year, Denver International Airport was able to deposit more than $80 million in our capital account after giving $40 million back to the airlines that serve Denver,” said CFO Patrick Heck. “This keeps us in a healthy financial position and gives us flexibility. As we improve our financial performance and grow nonairline revenues, we have more opportunities to reduce costs to the airlines so they are more able to expand their service from Denver.”

DIA is an enterprise fund of the City, which means no taxpayer money received by the City’s General Fund is used for Denver International Airport expenditures. DIA operates as a self-sustaining business where fees are charged to users of the airport to cover the costs of providing goods and services. DIA operates in accordance with Generally Accepted Accounting Principles.

In February 2011, DIA unveiled a 10-year financial strategy designed to position the airport for fiscal stability and growth. The plan focuses on optimizing existing resources and effectively funding improvements such as facility upgrades, roadway projects, baggage system enhancements and the Hotel and Transit Center. An additional goal of the 10-year financial strategy is maintaining competitive operating costs for DIA’s airline partners so they have more opportunity to grow air service to the region. The plan’s design allows the airport to adapt to changing markets and economic climates as well as the issues facing DIA’s airline partners. It establishes targets against which DIA can manage and measure performance, and DIA has been able to meet or exceed those targets since putting this strategy in place.

The complete financial report is available at http://business.flydenver.com/stats/financials/reports.asp.  

 
   

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