Halfway through its fiscal year, Bob Hope Airport's operating revenues are running more than $150,000 in the red due to declining numbers of passengers and weak parking revenues, according to a recent financial report.
Parking fees, which make up about 40% of the airport's revenues, were budgeted to bring in $9.5 million but only produced $8.9 million, according to the report released to the Burbank-Glendale-Pasadena Airport Authority on Monday.
Passenger levels for the first half of the fiscal year — July to December 2012 — declined almost 6.8% compared to the same period in the last fiscal year.
“At this time, we continue to be vulnerable to the economic uncertainty and the associated unfavorable impacts of the sluggish economy on passenger demand,” the report states.
But those aren't the only challenges the airport faces.
In the past year or so, the airport also has seen the departure of American Airlines and it lost a pair of Jet Blue daytime flights.