As passenger numbers rise, so does airport's revenue

Higher parking fees and increased charges to airlines lead to 25% revenue increase

The following article appeared in the June 19, 2024, edition of The Charlotte Ledger, an e-newsletter with smart and original local news for Charlotte. We offer free and paid subscription plans. More info here.

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With more passengers and higher fees, revenue at Charlotte’s airport is taking off; Parking rate increase brings in $20M+

Charlotte’s airport is expecting a boost of more than $20M after jacking up parking rates last fall.

The city’s budget, adopted last week, shows for the first time the projected financial effect of higher parking prices. It reveals that for the year ending in June 2025, the airport anticipates $120M in parking revenue, up from the $97.8M projected for the current year without accounting for the higher rates.

The higher cost of parking — in which the daily decks went from $12 to $20, and long-term lots went from $10 to $12 — is just one of the factors leading to a surge in the money pouring into the airport. A higher-than-anticipated number of passengers is helping, too, while also leading to complaints about overcrowding in a busy summer season.