Official Statement Airport Commission City and County of San ...

In Fiscal Year 2007-08, terminal concession revenues (which excludes revenues for parking and other
ground transportation) were approximately $96.3 million, an approximately 9.2% increase compared to the previous
Fiscal Year’s revenues of approximately $88.2 million.
Principal Revenue Sources
Set forth in the table below is a description of the Airport’s principal revenue sources. No single tenant
accounted for more than 23% of total operating revenue in Fiscal Year 2008-09. For the purpose of this table, the
term “revenues” includes all amounts paid to the Airport by a company, including Concession Revenues.
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TEN HIGHEST REVENUE PRODUCERS
FY 2008-09 (1)
FY 2007-08 Percent of
Revenues Revenues Operating Percent of
Company ($ in thousands) ($ in thousands) Revenue (2)
Total Revenue
United Airlines (3) $128,823 $124,663 22.61% 19.27%
New South Parking-California (4) 65,726 68,355 12.40 10.57
DFS Group, L.P. 26,732 26,877 4.88 4.15
American Airlines 24,900 23,634 4.29 3.65
Hertz Corporation 21,831 20,436 3.71 3.16
Avis Budget Car Rental, LLC (5) – 17,806 3.23 2.75
Avis Rent-A-Car, Inc. 14,292 – – –
EAN, LLC (6)
– 14,346 2.60 2.22
Signature Flight Support 11,691 11,440 2.08 1.77
Southwest Airlines – 9,536 1.73 1.47
Delta Air Lines 13,063 9,506 1.72 1.47
Northwest Airlines 10,495 – – –
Alamo Rent-A-Car, Inc. 9,363 – – –
SUBTOTAL TEN HIGHEST 326,916 326,599 59.22 50.49
Other Operating Revenue 198,935 224,684 40.76 34.73
TOTAL OPERATING REVENUE 535,771 551,283 100.00% 85.22
Other Revenue (8) 36,195 (9) 26,748 (10)
4.13
PFC Collections (11)
69,476 68,845 10.64
TOTAL AIRPORT REVENUE $641,442 $646,876 100.00%
(1) Revenue is audited and includes operating and non-operating income and credit adjustments.
(2) Includes concession revenues from non-concession tenants and credit adjustments. Column does not total due to rounding.
(3) Includes revenues generated by Ted.
(4) New South Parking-California manages the Airport’s public short-term garage, long-term and employee parking services pursuant to a
three year management agreement. See also “–Concessions–Parking.”
(5) Effective January 1, 2009, Avis Rent-A-Car Inc. and Budget Rent-A Car, Inc. were merged as Avis Budget Car Rental, LLC.
(6) Effective January 1, 2009, Alamo Rent-A-Car, Inc., Vanguard Car Rental USA, INC. Enterprise Rent-A-Car, Inc. and National Rent-A-Car,
Inc. merged as EAN, LLC.
(7) AMPCO Parking, Inc. managed the Airport’s garage, long-term lot, and taxicab-related services under a management contract that expired
January 2, 2007 and was extended to June 30, 2007 to accommodate the transition to the new parking operator, New South Parking-
California.
(8) Includes interest and other non-operating revenue.
(9) Includes investment income in the amount of $29.8 million and settlement income in the amount of $5.0 million in Fiscal Year 2007-08.
(10) Includes investment income in the amount of $22.8 million.
(11) See “SECURITY FOR THE 2010A BONDS–Source of Payment; Pledge of Revenues.”
Source: San Francisco Airport Commission.
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