First Quarter Addison Airport Revenues Set Record

Addison Airport Director Joel Jenkinson provided an overview of key Airport performance measures for the first quarter of Fiscal Year 2023 (FY23), which ended on December 31, 2022, at the February 13 City Council Meeting. The report presents data on revenue, fuel flowage, and aircraft operations (take-offs and landings), including international operations.

Highlights for the first quarter include:

• Airport revenues in the first quarter of FY23 were the highest ever ($1,722,757) for the first quarter of any fiscal year, up 11.5% compared to the first quarter of FY22 and 26.8% compared to the first quarter of FY21. The increase is attributable to the strong performance of the airport's real estate portfolio, which has generated additional revenue from new ground leases such as the Galaxy FBO lease.
• Galaxy FBO formally began operations on November 1, 2022. They are off to a very good start, moving more than 120,000 gallons of fuel in each of their first two months (November and December).
• Galaxy FBO hosted the FIFA World Cup Trophy Tour aircraft and event on November 6, 2022. Addison was one of only three U.S. stops on the World Cup Trophy Tour; the other two stops were Los Angeles and New York / New Jersey (Newark Liberty International Airport).
• Million Air sold more than 6,000,000 gallons of Jet-A in calendar year 2022, passing the milestone on the afternoon of December 27, 2022 and setting an all-time record for them (or any other FBO at Addison, for that matter).
• Operations and fuel flowage, while generally lower than the first quarter of FY22 (which set records), were strong for the first quarter of FY23.

You can watch the Council's Airport update here and read the presentation here.