Reports 21 Percent Passenger Growth Last Year Over 2008
Local passenger traffic at
Cincinnati/Northern Kentucky International Airport (CVG) grew
almost 21% in the 3rd quarter of 2009 as compared to the same
period in 2008 - moving CVG to the top position for the largest
increase in local passenger traffic, according to the 3rd Quarter
2009 DOT report. "CVG has seen explosive growth in its local
passenger base over the last year, helping to fill parking lots and
improve related revenue streams," stated John C. Mok, CEO. "This
DOT report confirms that CVG is supported by a large local
population base with high levels of demand for air travel."
Another indicator that CVG's local market has a high demand for
air service is load factor (the percent the plane is full on
departure). For the summer and fall months 2009, CVG's load factors
were extremely high, ranging from 73% to over 96% (DOT T-100). The
high load factors indicate that flights are full at CVG. "These
reports from the DOT, individually and combined, further emphasize
the validity and importance of the Airport Board's message to the
airline industry. The Tri-State Region has a level of demand for
air service greater than the capacity currently offered at CVG,"
added Mok.
One of the primary reasons for the growth in local passengers is
due to the significant air fare reductions initiated by the
airlines at CVG in February 2009. For the last two reporting
periods, CVG experienced the largest decrease in air fares of U.S.
airports - over 38% (BTS 3rd Quarter Air Fare Report). "There is a
local need for more air service at CVG," noted Mok. "Air Canada
recognized this need with its new service between CVG and Toronto
starting in May 2010. I strongly believe that other carriers will
also recognize that the reduction in air service at CVG has
suppressed growth in the local market. Growing air service will
open new opportunities for airlines at CVG now and into the
future."
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