Airport Finance: Data, Analysis & Research
DWU Consulting publishes in-depth airport financial analysis covering the full spectrum of U.S. airport finance: from airline landing fees and terminal rental rates to bond credit ratings, cost per enplanement benchmarking, and FAA CATS financial data. Our articles draw on primary source documents — official statements, airline use agreements, annual financial reports, and rate books — to provide the kind of institutional knowledge that airport finance consultants and municipal bond analysts rely on.
Data Dashboards
Explore our interactive data dashboards for real-time airport finance benchmarks. Compare monthly enplanement data across 63 large and medium hub airports, track customer facility charge rates for rental car concessions, or analyze macroeconomic indicators that drive air travel demand.
Hub-Tier Analysis
U.S. airports are classified by the FAA into large, medium, and small hub tiers based on their share of national enplanements. Each tier exhibits distinct financial characteristics: large hubs benefit from economies of scale and diversified airline tenant bases, while small hubs face higher per-passenger costs and greater airline concentration risk. Our hub-tier pages provide CPE comparisons, enplanement trends, TAF forecasts, budget data, financial statements, and official statement access for every tier.
Airport Finance Articles
26 articles
GASB 94 Public Service
Explores the definition and application of public service in GASB 94 PPP accounting requirements for U.S. airports.
Common Use and Joint Use
Distinguishes between common use and joint use airport terminal space and facility definitions.
Medium-Hub Airport Ratemaking & Rate Structure
Medium-hub airport landing fees and rates: ratemaking methodologies, rate structures, and current practices at 32 U.S. airports.
Large-Hub Airport Ratemaking – 2022 Update
Documents ratemaking strategies and methodologies implemented by large-hub airports.
Grandfathered Revenue Diversion
Examines revenue diversion policies and FAA determinations regarding airport financial obligations.
Sustainability and Airport Finance
Analyzes how environmental sustainability initiatives impact airport financial planning and operations.
Airport Green Bonds
Explains green bonds as a financing mechanism for environmentally friendly airport capital projects.
Presentations
Index of public presentations on airport finance topics and industry conference presentations.
Airport Debt Service Calculation
Explains how airports calculate and prioritize debt service requirements and financial obligations.
Airport Capital Review
Discusses airline capital review and majority-in-interest approval requirements for airport projects.
Airport Privatization
Examines public-private partnerships and privatization models for airport operations and development.
Airport Finance 101
Introduces fundamental concepts and principles underlying airport financial management and operations.
Airline Agreement Negotiation - Financial Modeling
Discusses financial modeling techniques used in airline use agreement negotiations.
Per Turn Fee
Analyzes per-turn fee structures, setting options, and implications for airport financial planning.
Air Ticket Taxes and Fees
Explains federal taxes and fees on air travel and the Airport and Airway Trust Fund operations.
Terminal Space and Ratemaking
Discusses terminal space classification and rate-setting methodologies for airport terminal facilities.
Customer Facility Charge (CFC): 2026 Guide
Complete CFC guide: project eligibility, current rates, collection methods, ConRAC financing, and bond structures. Updated 2026.
Airport Bond Documents
Introduces key definitions, covenants, and conditions in airport revenue bond documents.
Operating Expenses and Allocation
Explains expense recording and allocation methods for airline rate and charge calculations.
Designing Airport Financial KPIs
Guides the design of airport-specific key performance indicators to improve financial performance.
Passenger Facility Charges (PFC) Guide
PFC guide: eligibility, approval process, strategic use of revenues, and collection procedures at U.S. airports.
Three Dimensions of Airport Finance
Introduces accounting, rates and charges, and trust as three core dimensions of airport finance.
Cost per Enplaned Passenger
Explains CPE sources, calculation methods, uses, and limitations as a key financial metric.
Airline Rates & Landing Fees: Rate Methodologies
Airline landing fees and rates explained: residual, compensatory, and hybrid methodologies. How airports set charges and allocate costs.
Airport Rate Regulation
Examines U.S. airport rate regulation frameworks and FAA oversight of airline rates and charges.
Enplaned Passengers
Explains how airports report and use passenger traffic statistics in financial planning.