Colorado Springs Airport Projects 2002 Growth in Revenue, Passenger Traffic, Concessions and Cargo.

Business Editors

COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Aug. 29, 2002

Colorado Springs Airport projects a 1.3 percent growth in annual revenues and expects to host 15,000 more passengers in 2002, despite fallout from Sept. 11 and airline cutbacks.

"We anticipate a moderate revenue growth from $22.4 million in 2001 to $22.9 million for 2002," said Gary Green, Colorado Springs aviation director. "We had setbacks following Sept. 11, but have had solid performance through the year. We're recovering probably as well as anybody. We're improving and, with a little luck, we'll be back on track a lot faster than other airports."

Colorado Springs Airport has been ahead of the national average for traffic during 2002. Through July 2002, Colorado Springs Airport is down only 3 percent in passenger traffic over 2001. Nationally airports are down an average of 10 percent.

COS has posted two months with year-over-year gains since Sept. 11. In February, COS posted a 2.6 percent jump in passenger traffic over February 2001. In May, COS posted a 0.4 percent gain in passenger traffic over May 2001.

While carriers have been cutting back or filing for bankruptcy, Colorado Springs Airport felt limited impact. Of the three carriers filing for bankruptcy, only Vanguard operated at COS. Despite Vanguard's troubles, the airport anticipates limited growth.

Colorado Springs also added service from Allegiant Air, Vanguard and Great Plains in the months following Sept. 11, helping offset a drop off in traffic.

Other carriers, such as American and United are using smaller planes for some flights, allowing COS patrons more flight options. Beginning Oct. 1, United will offer five flights a day to Chicago on smaller jets, up from the current three flights on larger aircraft.

Cargo activity at Colorado Springs has been a bright spot. Year-to-date cargo traffic is up 13.8 percent from 101,722,900 tons in 2001 to 115,712,300 tons in 2002. In July the airport posted a 21.9 percent gain from 13,961 tons in July 2001 to 17,020 tons during the same period of 2002.

"FedEx and Airborne Express have done a good job. We hope cargo will continue to be a strong growth area for us," Green said.

Terminal concessions have also posted positive numbers. June food/beverage/gift revenue was up 14 percent at COS with $58,376 in revenue, as compared to $51,198 in June 2001. Year-to-date food/beverage/gift revenues were up 8.7 percent.

Colorado Springs Airport handles approximately 115 arrivals and departures per day and is currently served by 11 commercial airlines. The Airport is situated on 7,135-acres and operates three runways -- dual parallel and one crosswind -- and boasts the longest runway in Colorado: 13,500 feet (2.5 miles).

(Editors note: In preparation for Sept. 11 coverage -- Colorado Springs Airport projects growth in multiple areas for 2002, despite setbacks from Sept. 11.)