MidAmerica Takes Less Of A Financial Beating In ’11

MASCOUTAH, Ill. (AP) –  Although MidAmerica St. Louis Airport continued to lose money in 2011, the loss was smaller than in 2010.

According to an audit by J.W. Boyle & Co. Ltd, of Belleville, the airport had an operating loss of $8.4 million, a 30 percent decrease from the previous year, when the St. Clair
County airport posted an $11.93 million operating deficit.

The Belleville News-Democrat reports the loss was attributable to equipment and facility depreciation and amortization costs of $5.8 million and operating expenses of $3.56 million.

Operating expenses were about half what they were in 2010 partly because of cuts in marketing.

Revenues doubled from 2010.

Airport officials say they are anticipating revenue to grow this year with Allegiant Air’s reintroduction of passenger service after a hiatus of almost four years.

© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed


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