What is cost per enplaned passenger (CPE)?

Cost per enplaned passenger (CPE) is a key metric in airport finance calculated by dividing total airline payments to an airport by total enplaned passengers. It measures how much airlines pay per passenger to use an airport and is widely used for financial benchmarking across U.S. airports.

What are the main airport rate methodologies?

The three primary airport rate methodologies are residual, compensatory, and hybrid. Under residual, airlines cover the gap between airport costs and non-airline revenues. Under compensatory, airlines pay rates based on the actual cost of facilities they use. Hybrid blends both approaches and is the most common methodology at large U.S. airports.

What data does DWU Consulting provide?

DWU Consulting provides comprehensive U.S. airport finance data including CAFRs, official statements, airline agreements, rate books, air traffic statistics, CPE benchmarking for 140+ airports, interactive dashboards, and AI-powered research tools for airport finance professionals.

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What's New

Mar 2026New: FAA 150-Series Advisory Circulars: Status and Standards — Complete inventory of 115+ active ACs, 20 updates from 2024–2026, FAA Reauthorization Act impacts, draft ACs, and emerging topics. Open to the public.

Mar 2026New: How U.S. Airlines Are Regulated — The federal regulatory architecture governing U.S. airline operations, safety, economics, security, and consumer protection. FAA safety authority (Part 121 Operating Certificates, pilot certification, crew rest), DOT economic oversight (fitness, slots, Essential Air Service), TSA security, consumer protection (automatic refunds, tarmac delays), Railway Labor Act, environmental compliance, and emerging challenges. Open to the public.

Mar 2026New: How U.S. Airports Are Regulated — The constitutional foundation, federal agencies, state and local layers, governance models, the 39 grant assurances, and emerging challenges. Open to the public.

Mar 2026New: Advanced Air Mobility and Vertiports — What airport finance professionals need to know before eVTOL operations reach their campuses.

Mar 2026New: 11 credit analysis articles — Air Cargo Economics, Airline Concentration Risk, Airport Cybersecurity, Demand Forecasting, Airport Governance, Parking Agreements, Climate Resilience, DCA Slot Expansion, International Airline Alliances, PFAS Contamination, and Tax-Exempt Advance Refunding.

Mar 2026New: 4 airport finance articles — Air Service Incentive Programs, JD Power & Customer Experience, Strategic Plans, and Credit vs. Mission Metrics.

Mar 2026New: Airport Business Parks & Master Developer Agreements — How airports use MDAs to develop surplus land through private capital. Four case studies, FAA policy framework, and credit implications.

Feb 2026New: The CFC Question: Should P2P Car Sharing Pay Customer Facility Charges? — State-by-state analysis of whether platforms like Turo owe CFCs, with statutory exposure and bondholder implications.

Feb 2026New: 6 transit & airline articles — Transit Fiscal Cliffs, Bay Area SB-63, DART Dallas, CTA Chicago, Nonstop Route Economics, and Fleet Strategy & Aircraft Orders.

Feb 2026Airport Finance Weekly — Free weekly newsletter covering U.S. airport bonds, capital programs, traffic data, and policy. Subscribe →

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DWU Consulting — Dafang Wu brings over 25 years of airport consulting expertise to the industry, currently serving as a consultant to ACI-NA and numerous U.S. airports. This site is a tribute to the professional foundation laid by his mentors—including Susan Warner Dooley, Michael Brown, Spencer Ballard, Nick Davidson, and Sheri Ernico—whose guidance shaped his approach to airport finance. For inquiries, please email dwu@dwuconsulting.com