MEMPHIS, Tenn. (May 22, 2017) – The Memphis-Shelby County Airport Authority (MSCAA) Board of Commissioners today passed the budget for Memphis International Airport (MEM) for fiscal year 2018 (July 1, 2017 through June 30, 2018).
This $120.4 million Operations and Maintenance (O&M) budget sets the fees and charges that the airlines pay to the Airport Authority, and also establishes spending authority for the MSCAA staff. This budget does not include construction project expenditures. The MSCAA budget was unanimously supported by the Memphis International Airport’s airline committee partners and approved by the Board’s Finance and Administration Committee.
The most significant highlights in this budget include a 12.9 percent decrease in the proposed terminal rates and charges, with an $80.51 per square foot rate compared to $92.98 per square foot in FY 2017. Terminal rental fees are determined by dividing the terminal’s operating cost by the total rented space, and the fees are paid by the airlines, vendors and other tenants. The decrease in terminal rates is due to slightly lower terminal operating costs and increased non-airline revenues.
Landing fees dropped slightly to at $1.2464 per 1,000 lbs. of landed weight compared to last year’s rate of $1.2662.
Terminal rent and landing fees comprise about four percent of airlines’ overall operating costs and do not have a significant effect on airfares.
Highlights of the FY 2018 MSCAA budget:
• Total revenues/other sources: $120,435,900
• Total expenses, capital outlay, debt service, and debt service coverage: $120,435,900
• Landing fees: $1.2464/thousand lbs., down slightly from $1.2662 last year
• Terminal square foot rate:$80.51, down from $92.98 last year
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