MIAMI – As carriers report a 16% decrease in passenger traffic, the Dallas/Fort Worth International Airport (DFW) is chopping landing fees during March.
The measure will be managed through discounts following the monthly board meeting in which a lower rent for 13 tenants in TD was also approved, according to Sean Donohue, Airport CEO.
The only retailers that would now pay rent in September at the end of the airport’s fiscal year include MAC Cosmetics, Michael Kors, Coach, and Duty Free.
DFW 2020 stats, so far
During March 2019, DFW collected US$10.4m from landing fees. However, for February 2020, Donohue did not offer the numbers in relation to the market slowdown due to COVID-19.
Since February, DFW is also one of the US airports with entry screenings to receive passengers potentially infected with the coronavirus. However, the latest announcements made by American Airlines (AA), United Airlines (UA) and JetBlue (B6) to reduce its services are affecting the airport’s profits.
According to preliminary statistics from the airport for the month of January, DFW showed a 5% increase in traffic while OAG’s data displayed an 8% increase of flights for February, compared with the previous year.
Biggest beneficiary of low rents
AA, with its base operations in Fort Worth, represents 80% of DFW’s traffic, paying for each of its 900 flights a day (during peak periods).
As a result of the new low rent measure, the airline would have a win-win situation, after cutting several routes from Dallas, Forth Worth to Hong Kong, Beijing, Shanghai, South Korea and Italy because of the virus spread.