Albany, NY (Dec. 5, 2000) - - - The Albany County Airport Authority has approved a $31.2 million operating budget for 2001. The unanimous vote was taken during the Authority's board meeting Monday, December 4. The budget includes a 6 % reduction in landing fees for signatory airlines now serving the Airport. Under the new budget, the Airports signatory landing fee will be set at $1.50 per thousand pounds, down from $1.60 in 2000.

"2000 has been an outstanding year during which the airport witnessed strong growth in both service and passengers," said Rev. Michael A. Farano, Chairman of the Albany County Airport Authority. "Our goal is to continue to elevate the level of service and reduce air fares to enable our airlines to be more competitive."

The new operating budget will reduce the average airline's overall "Cost per Enplanement" from $7.84 to $5.83, a reduction of 25%. Overall. airlines serving Albany International Airport are expected to realize savings of $3 million over 2000. This marks the second year in a row that the Airport Authority has reduced fees to its airlines.

Total airport revenues for the year 2001 are expected to reach $31.2 million while operating costs are expected to increase to $17.8 million. The remaining $13.4 million is dedicated to reducing bond indebtedness ($8.9 million), capital expenditures and new equipment $1.4 million and funding reserves (.5 million).

Several additional Airport capital projects are scheduled to be completed and placed in service during 2001. Among them, the New York State Executive Hanger to house the state's fleet of helicopters and fixed-wing aircraft and a new Airport Rescue and Fire Fighting headquarters which is now under construction. The Airport also plans to increase the number of available parking spaces and to begin construction of "T" hangers to house general aviation aircraft.

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