Audit: MidAmerica Airport lost less money last year than they did in 2010

Audit: MidAmerica Airport lost less money last year than they did in 2010

Audit: MidAmerica Airport lost less money last year than they did in 2010

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AP

Posted on August 29, 2012 at 5:33 AM

Updated Wednesday, Aug 29 at 5:33 AM

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 last week after a hiatus of almost four years.

Information from: Belleville News-Democrat

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