December 7, 1999
Immediate Release
Contact: Doug Myers
518-242-2222

Albany, New York -- (December 7, 1999) - - The Albany County Airport Authority has approved a 12% reduction in signatory landing fees for commercial and non-commercial aircraft at the Albany International Airport. Under the new budget, the Airport's signatory landing fee will be set at $1.60 per thousand pounds, down from $1.82 in 1999.

"Our objective has been to assist airlines in decreasing their operating expenses and ultimately to reduce the cost of flying from the Albany International Airport," said Rev. Michael A. Farano, Chairman of the Albany County Airport Authority. "We believe this new fee structure will enable air carriers serving Albany to become more competitive."

The $25 million 2000 budget adopted by the Board at its monthly meeting last evening will reduce the average airline's overall "Cost per Enplanement" from $9.14 to $7.84, a reduction of 14%. Overall, airlines are expected top realize a savings of $752,000 over 1999. This will mark this first decrease in fees for the carriers since the inception of the 1996 Use and Lease Agreement.

Total Airport revenues for the year 2000 are expected to reach $25 million while operating costs are expected to increase to $14.8 million. The remaining $10.3 million is dedicated to reducing bond indebtedness ($8.35), funding reserves ($0.87) and purchasing new equipment ($0.3).

Several additional Airport capital projects are scheduled to be completed and placed in service during 2000. Foremost, the 16,000 sq. ft. expansion of the passenger terminal will be ready for occupancy. The expansion includes two additional loading bridges. The Airport's state-of-the-art Glycol Anaerobic Waste Treatment System will be expanded to include a Deicing Stormwater Polishing Filtration System. Airport parking will be expanded with the construction of an 800-car addition to the existing parking garage.

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