DFW Airport's losses since this fiscal year started have been lower than originally forecast. At a board meeting Thursday, the airport's chief financial officer said the number of passengers since October has been about 260,000 higher than expected.
"We had a very strong month of April," says DFW Airport CFO Chris Poinsatte. "Passengers came back up above budget."
DFW had forecast 25.34 million passengers from October through April. The airport has actually seen 25.6 million. Despite the increase, the number was still down from the previous fiscal year when the airport had about 33.4 million passengers.
Poinsatte says DFW had planned to spend $70 million in CARES Act funding but did not use about $400,000. Revenue, however, was down $8.8 million.
"We're 400,000 positive right now," Poinsatte says. "We're down on the revenue side, but expense reductions have allowed us to offset that, which would bring us back to right at budget."
In addition to the cost of the pandemic, Poinsatte says DFW "absorbed" $5 million in additional costs due to the winter storm.
In the next fiscal year, from October 2021 to October 2022, DFW projects traffic will return to 88% of the level from 2019.
LISTEN on the Audacy App
Sign Up and Follow NewsRadio 1080 KRLD
Facebook | Twitter
