THE PORT AUTHORITY OF NY & NJ

Press Release Article


PORT AUTHORITY SEES MIXED RESULTS IN 1Q 2010 TRAFFIC VOLUMES

Date: May 27, 2010
Press Release Number: 32-2010

Activity levels at the Port Authority’s six bistate crossings and PATH mass-transit system continued to decline during the first quarter of 2010.  Traffic at the Port Authority’s airports rose slightly during the period and cargo volumes at the bistate agency’s seaports increased 9.6 percent over 2009, though port activity remains 6 percent below first quarter 2008 levels.

During the first three months of 2010, the following activity levels were reported at Port Authority facilities:

The Port Authority said its own fiscal condition remained sound due to numerous cost-containment efforts the agency has taken in anticipation of the economic decline, including the implementation of two consecutive years of zero-growth operating budgets, staff reductions, and the prioritization and scaling back of its long-term capital program.

Port Authority Chairman Anthony R. Coscia said, “The latest numbers show that the national recession continues to impact our businesses, though we’re beginning to witness signs of a return to growth in the future.  In the meantime, we will continue to control costs and to meet our commitments.”

Port Authority Executive Director Chris Ward said, “The Port Authority is not recession proof, and the agency’s traffic volumes continue to lag the nation’s economic recovery.  That is why we will continue to take the fiscal measures necessary to ensure the agency meets its obligations to the region on a sound financial footing.”

Port Authority Deputy Executive Director Bill Baroni said, “Until the economy fully rebounds, we’re working hard to prioritize and build the transportation projects that will provide the greatest benefits to our customers and to the region.”

CONTACT:   The Port Authority of New York and New Jersey

Steve Coleman, 212 435-7777

The Port Authority of New York and New Jersey operates many of the busiest and most important transportation links in the region. They include John F. Kennedy International, Newark Liberty International, LaGuardia, Stewart International and Teterboro airports; AirTrain JFK and AirTrain Newark; the George Washington Bridge and Bus Station; the Lincoln and Holland tunnels; the three bridges between Staten Island and New Jersey; the PATH (Port Authority Trans-Hudson) rapid-transit system; Port Newark; the Elizabeth-Port Authority Marine Terminal; the Howland Hook Marine Terminal on Staten Island; the Brooklyn Piers/Red Hook Container Terminal; and the Port Authority Bus Terminal in midtown Manhattan. The agency also owns the 16-acre World Trade Center site in Lower Manhattan.