Despite a precipitous drop in parking revenues and the loss of American Airlines, Bob Hope Airport managed to squeak ahead of budget projections for fiscal year 2012, according to a report released this week.
According to the year-end fiscal numbers released to the Burbank-Glendale-Pasadena Airport Authority on Monday, Bob Hope Airport took in $4,677 more than what was anticipated, and was hampered mostly by a major drop in parking revenues, officials reported.
Parking revenues, which traditionally made up about 40% of the airport's total operating revenues, came in $732,196 under budget — a 3.8% decrease from what was projected.
Dan Feger, the airport's executive director, said the tightness of the operating results for last fiscal year, which ended June 30, was unexpected.
“Historically, our performance was that we had more operating revenue than we had anticipated. We would always try and be very conservative about forecasting revenue stream,” he told authority members. “But this year, it didn't happen. You can see that the parking really hurt us.”