CLE filed its annual report with the FAA this past week. Lots of good news. All numbers in millions, except %. Passenger airline revenue up $11 to $81.5, Non-pax (freight, GA, DoD) revenue up 1.5, to 12.8, non-aeronautical revenue up 2.3 to 48.7. Total revenue up 14.5 (5%); operating expenses up 7.3 (5.7%); operating income 8.6, up 561%. Non operating expenses down 9.6 (-61.5%) to 6.0, reflecting mostly decreased interest expense and additional grant receipts. CLE's end of year debt was 724, down by 58 and down by 132 from a pre-hub closure high of 856.
It likely that the mid-2017 debt total now stands somewhere in the high 600's. I don't know what airport employees think about events, but it seems fair to say good things financial started happening after Ricky Smith left and that Fred Szabo wasn't too bad at all as caretaker. Also (it's a minor thing but a good sign) this year the report was filed on time.
The new debt level probably allows the airport to entertain a good sized construction project or two. Let's see ,,, what do they need first? A new FIS?
Those are good numbers. I'm curious how much traffic increased this May and June with the decent capacity boost from F9, WN, and G4. It seemed like the airport was the busiest it's been in years. The airport is almost serving as many pax as 2012, but without concourse D.
F9 should have their winter schedule extension very soon so it will be interesting to see how it compares to last winter. Usually they just go back to flying Florida plus PHX and LAS.