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1 1 (June 26, 1998)

handle is hein.crs/crsaawz0001 and id is 1 raw text is: Order Code 98-579 E June 26, 1998 Airport Finance: A Brief Overview Robert S. Kirk Economics Division Summary Airports in the U.S. national system are nearly always public sector enterprises that operate under a city, county, regional or other charter such as a port authority. Although these airports are public enterprises, they are typically managed as businesses. Most airport operating revenues come from airfield revenues (such as landing fees), concession agreements, or rent from leased areas at the airport. For capital development needs airports rely on bonds, federal Airport Improvement Program (AIP) grants, passenger facility charge (PFC) revenues, state and local grants, and surplus airport revenue. Federal involvement in airport finance is mostly concerned with airport capital improvements intended to support policies concerning capacity, competition, noise, safety, and the availability of air service nationwide. This report will not be updated. Airport Finance Airports in the U.S. national system are nearly always public sector enterprises that operate under a city, county, regional or other charter such as a port authority. Although these airports are public enterprises, they are typically managed as business enterprises. Airport operating revenues support costs that include day-to-day operations, bond repayment, and other operating expenses. Capital development funding, for the most part, comes from a combination of private and public sector sources including, tax-exempt bonds, the Airport Improvement Program (AIP), passenger facility charges (PFCs), state and local grants, and unexpended airport revenue. Operating Revenues These are airport revenues provided by fees, rents, and other charges that are directly associated with the running and operation of the airport.1 Operating revenues include: 1 In this report all references to airports or the national airport system refer to those airports listed in the National Plan of Integrated Airport Systems (NPIAS). See, U.S. Federal Aviation Administration (FAA). National Plan of Integrated Airport Systems (NPIAS) 1993-1997. April (continued...) Congressional Research Service CRS Report for Congress Received through the CRS Web The Library of Congress

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