Backup — original pdf

Backup

REVENUE MARCH 2020 March 2020 Enplanements – 349,457 Enplanements – (375,393) below March 2019; (51.79%) Enplanements – (18,964) Mar YTD below prior year; (0.49%) March Cargo (0.68%); YTD +3.11% 1 REVENUE - FY20Mar-20Mar-19Variance B/(W)Var % B/(W)Mar 20 YTDMar 19 YTDYTD Variance B/(W)YTD Var % B/(W)YTD Variance v Budget B/(W)YTD Var % B/(W)AIRLINE REVENUELanding Fees$2,934,126$2,820,450$113,6774.0%$16,966,166$16,410,615$555,5513.4%($1,063,196)(5.9%)Terminal Rental & Other Fees$5,019,139$4,289,284$729,85517.0%$27,118,228$24,899,049$2,219,1798.9%($493,161)(1.8%)TOTAL AIRLINE REVENUE$7,953,266$7,109,734$843,53211.9%$44,084,394$41,309,664$2,774,7306.7%($1,556,356)(3.4%)NON-AIRLINE REVENUEParking$1,951,525$3,373,955($1,422,430)(42.2%)$19,068,037$19,377,450($309,413)(1.6%)($720,313)(3.6%)Ground Transportation$309,029$600,854($291,825)(48.6%)$3,439,422$2,970,698$468,72415.8%$159,4754.9%Rental Cars$1,073,400$1,415,115($341,715)(24.1%)$7,678,546$7,206,709$471,8376.5%$89,9411.2%Food, Bev & Retail$1,386,572$1,466,848($80,276)(5.5%)$8,706,784$7,448,881$1,257,90416.9%($276,815)(2.7%)Advertising, Other Rentals and Fees$1,617,963$1,674,272($56,309)(3.4%)$9,680,885$8,808,703$872,1829.9%$1,158,82716.4%TOTAL NON-AIRLINE REVENUE$6,338,488$8,531,043($2,192,555)(25.7%)$48,573,673$45,812,440$2,761,2336.0%$411,1140.9%Interest$93,930$159,279($65,349)(41.0%)$612,007$754,894($142,886)(18.9%)($142,887)(18.9%)TOTAL OPERATING REVENUE$14,385,684$15,800,056($1,414,372)(9.0%)$93,270,075$87,876,998$5,393,0776.1%($1,288,129)(1.4%)OPEX, DEBT & NET INCOME – MARCH 2020 2 EXPENSES & INCOME FY20Mar-20Mar-19Variance B/(W)Var % B/(W)Mar 20 YTDMar 19 YTDYTD Variance B/(W)YTD Var % B/(W)YTD Variance v Budget B/(W)YTD Var % B/(W)OPERATING REQUIREMENTSFac Mgmt, Ops and Airport Security$4,517,113$4,396,030($121,083)(2.8%)$29,366,229$27,055,411($2,310,819)(8.5%)$4,368,29112.9%Airport Planning and Development$603,378$325,960($277,418)(85.1%)$3,083,664$2,041,829($1,041,835)(51.0%)$436,80712.4%Support Services$1,959,261$1,353,765($605,496)(44.7%)$12,324,138$10,024,411($2,299,728)(22.9%)$972,6237.3%Business Services$1,212,029$1,088,773($123,256)(11.3%)$7,528,758$7,283,875($244,884)(3.4%)($1,385,820)(22.6%)TOTAL OPERATING REQ (AIRPORT)$8,291,782$7,164,528($1,127,254)(15.7%)$52,302,790$46,405,525($5,897,265)(12.7%)$4,391,9017.7%OTHER REQUIREMENTS (COA)$1,308,641$1,178,222($130,420)(11.1%)$7,851,848$7,069,357($782,491)(11.1%)$200,6852.5%OPERATING REQ BEFORE DEBT SVC$9,600,423$8,342,749($1,257,674)(15.1%)$60,154,638$53,474,882($6,679,756)(12.5%)$4,592,5867.1%DEBT SERVICE$3,601,881$2,374,390($1,227,492)(51.7%)$20,539,378$13,631,010($6,908,368)(50.7%)($1,706,178)(9.1%)TOTAL OPERATING REQ INCL DEBT SVC$13,202,305$10,717,139($2,485,166)(23.2%)$80,694,015$67,105,892($13,588,123)(20.2%)$2,886,4083.5%OPERATING INCOME BEFORE DEBT SVC$4,785,261$7,457,307($2,672,046)(35.8%)$33,115,437$34,402,116($1,286,679)(3.7%)$3,304,45711.1%SURPLUS (DEFICIT) - NET INCOME$1,183,379$5,082,917($3,899,537)(76.7%)$12,576,059$20,771,106($8,195,047)(39.5%)$1,598,27814.6%AVIATION PASSENGER OUTLOOK • 86% of airports polled (51 airports) expect enplanements to decline 40% or more in Calendar Year 2021. 46% predict a 50% or more decline. • 65% of airports polled state that overall passenger traffic will not reach 2019 till after 2024. 3 What is your estimated percent decrease of passenger enplanement at your airport in CY2020? 6% 8% 46% 40% 20-30% 31-40% 41-50% 50%+ STATS passengers 2020 were projected to increase by 8%, instead projected to be down 43% under slow recovery scenario 4 AVIATION OUTLOOK FY Q3 (Apr-Jun), enplaned passenger traffic forecasted to be down 94% versus 2019. FY Q4 (Jul-Sep), enplaned passenger traffic forecasted to be down 64% versus 2019. 5 STATS FY20 drop in enplanements estimated to be an unprecedented 43% Past economic recessions: (11.28%) AUS pax decline in 2002; (8.18%) decline in 2009 AUS recovers faster than the national average to pre- recession levels 6 AVIATION OPERATIONAL CHANGES  Vehicle purchases put on hold  Temporarily closed gates 1-6 and 29- 34  Reduced trash collection to closed gates  Checkpoint reduction from 3 to 1  Shut down east and west baggage matrix – running bags thru oversize scanner  Planning and Engineering building effectively shut down while employees work from home  Employee Lot shut down and shuttle eliminated.  Surface Lot consolidated into Lot B  Valet operation shut down  Ambassador Volunteer Program has been suspended  Overflow TNC lot shut down 7 REVENUE Airline Revenue Impact Landing Fee Landing Weights dropped 60-70%; no pick up expected in FY20 Terminal Rental Rates & Other Fees Flights cancellations, drop in gate usage, drop in Remain Overnight Parking Non Airline Revenue Impact Significant drop in passengers of 97% Ground Transportation (Taxis, TNC) Significant drop in passengers of 95-97% Parking Rental Car Food, Beverage and Retail Concessions Advertising Other Rental and Fees Significant drop in passengers – Rental car companies looking for abatement relief Most concessions closed due to loss of passengers. Concessionaires seeking relief Ad inventory has “evaporated”. Drop in fuel flowage fees; Hotel not able to make rev share payments 8 AVIATION OPEX – COST REDUCTIONS Personnel • Hiring Freeze • Temporary employee reductions • Non critical overtime reductions • Seasonal employee reductions Commodities & Contractual • Travel and Training • Subscriptions • Advertising • Maintenance (from routine to condition based where applicable) • Consulting (eliminate, reduce or delay) • Contracts (reductions to parking: headcount, shuttling operation, overhead) • Supplies – Office, computer hardware/software, educational, clothing, tools & equipment 9 AVIATION EXPENSE OUTLOOK Expense reductions in response to passenger decline • For FY20, airport estimates airport related opex reductions of 22.7M versus budget, or 18%. • For FY21, cutting expenses further, by another 2.5% in response to reduced revenues. • No decreases to City overhead allocations in FY20 or FY21. 10 AVIATION CARES Act GRANT  CARES Act funds determined in March before the full extent of air traffic losses known.  AUS to receive - $58,735,130.  Cares Act funds approximately 6 months worth of expenses.  Not a lump sum amount. AUS will submit expenses for reimbursement.  Can be used across fiscal years.  Cannot be put into reserve funds.  Any purpose that the airport revenue maybe lawfully used.  Possible uses: Payroll, contracts, other operating expenses, debt service and airport development. 11