Date: Aug 14, 2008
Press Release Number: 87-2008
In a measure designed to preserve and expand air services at Stewart International Airport, the Port Authority Board of Commissioners today approved an incentive program that will waive fees and rentals that airlines normally would have paid the Port Authority for aircraft to land, park and utilize terminal facilities at the airport for the next six months.
The incentive program is necessary at Stewart Airport given the current business climate in the aviation industry, and particularly at Stewart, where several airlines have announced service cuts in 2008. The program comes as the agency is fighting a plan by the federal government that would limit choices and increase the cost of air travel at the three New York-area airports.
The Port Authority has earmarked $500 million in its ten-year capital plan for improvements and enhancements at Stewart Airport, which already has delivered more than 400 new parking spaces, improved road access and hundreds of new seats in the terminal.
Chairman Anthony R. Coscia said, "One of the reasons we acquired Stewart last year was to help expand our region's aviation capacity and reduce delays for our customers at Newark Liberty, Kennedy and LaGuardia airports. This incentive program demonstrates that our commitment to Stewart remains firm. Programs like this will help Stewart become a successful regional airport and strong economic engine for the residents and businesses of the Hudson Valley."
Executive Director Chris Ward said, "At a time when the federal government is focused on creating disincentives that hurt passengers - capping flights and seeking to auction slots without providing relief from delays - we're taking a more proactive approach. We're saying, 'We're open for business,' and we're doing all we can to help our partners get through this difficult period, so that our customers can reap the benefits, and so Stewart can continue to become an economic engine of the Hudson Valley."
Stewart Airport is projected to handle about 725,000 passengers this year, down from about 915,000 passengers who used the airport in 2007, but a sharp increase over the 310,000 people who passed through Stewart in 2006.
The Port Authority of NY & NJ
Candace McAdams or Pasquale DiFulco, 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; the Port Authority-Downtown Manhattan Heliport; 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.
The Port Authority is financially self-supporting and receives no tax revenue from either state.