PROJECT FUNDING
Sky Harbor currently enjoys a rank in the bottom 20% of the nation’s largest airports in terms of costs for passengers and airlines. And the city of Phoenix is committed to keeping costs low by stretching out spending and keeping a check on operating costs.
What will the Airport Development plan cost the Phoenix taxpayer?
In February 2007 the Phoenix City Council unanimously approved moving forward. Phoenix residents pay no local taxes for these improvements. Total improvements are estimated at about $3 billion over 10 years. The cost will be shared by travelers, airlines and other enterprises that benefit from a smooth-running airport such as rental car companies, restaurants, retailers and taxis.
What’s this plan going to cost the airlines?
We’ve had an open dialogue with the airlines throughout the entire planning process and will continue to do so. Airlines want cost-effective plans that minimize impact upon their bottom lines and the city of Phoenix believes that this plan achieves that.
Airline costs will increase an average of 5 percent per year over 10 years resulting in the cost per enplaned passenger increasing from almost $5 now to between $7 and $8 by 2016. This conservative approach allows Sky Harbor to continue to be a moderately priced airport relative to other U.S. airports and minimizes the financial impact on our airline partners.
