J3CubCapt
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Nov 22, 2005 8:46 am US/Central (CBS 11 News)
Many Want Closer Look at Love Field Finances
"I think it's very troubling.” Dallas City Councilwoman Angela Hunt says the council needs to investigate the finances at the Dallas-operated Love Field and Executive Airports.
As CBS 11 first reported Friday, airport administrators racked up $5.5 million in operating deficits from 2000 to 2005.
Last year, Moody's and Standard and Poor's lowered Love Field's bond rating.
"When our auditors are telling us we have financial problems and we're not operating as efficiently as we could at one of our enterprises, we have to look at it,” Hunt said. “But we have to do more than look at it — we have to take action on it."
The troubled finances were first brought up at this month's Senate hearings on lifting the Wright amendment.
The Love Field Citizens Action Committee opposes the repeal and questions the way the City of Dallas bankrolls Love Field.
"How long has this been going on and why haven't we learned about it sooner?” asked Rudy Longoria with the community group.
The city says it’s used prior surpluses to cover recent losses.
"Am I happy with the reports? No. Does the staff take steps to review and improve? I think we have,” replied Kenneth Gwyn, Dallas Aviation director.
Changes at the airport don’t seem to be enough to raise the bond rating.
One area cited was landing fees, which are 35 cents per 1,000 pounds at Love Field. At D/FW International Airport, the fees are $8.30.
"If they can make a justification for that fine, but if the city is in effect subsidizing Southwest Airlines, that's not fine,” said Pat White, who also is with the citizens’ group.
The city denies denies it is subsidizing Southwest Airlines.
Southwest officials report the airlines
the rent it pays for gates and terminal space at love field rose 77 percent from 2001 to 2003.
City auditors will do a follow up report next year.
Many Want Closer Look at Love Field Finances
"I think it's very troubling.” Dallas City Councilwoman Angela Hunt says the council needs to investigate the finances at the Dallas-operated Love Field and Executive Airports.
As CBS 11 first reported Friday, airport administrators racked up $5.5 million in operating deficits from 2000 to 2005.
Last year, Moody's and Standard and Poor's lowered Love Field's bond rating.
"When our auditors are telling us we have financial problems and we're not operating as efficiently as we could at one of our enterprises, we have to look at it,” Hunt said. “But we have to do more than look at it — we have to take action on it."
The troubled finances were first brought up at this month's Senate hearings on lifting the Wright amendment.
The Love Field Citizens Action Committee opposes the repeal and questions the way the City of Dallas bankrolls Love Field.
"How long has this been going on and why haven't we learned about it sooner?” asked Rudy Longoria with the community group.
The city says it’s used prior surpluses to cover recent losses.
"Am I happy with the reports? No. Does the staff take steps to review and improve? I think we have,” replied Kenneth Gwyn, Dallas Aviation director.
Changes at the airport don’t seem to be enough to raise the bond rating.
One area cited was landing fees, which are 35 cents per 1,000 pounds at Love Field. At D/FW International Airport, the fees are $8.30.
"If they can make a justification for that fine, but if the city is in effect subsidizing Southwest Airlines, that's not fine,” said Pat White, who also is with the citizens’ group.
The city denies denies it is subsidizing Southwest Airlines.
Southwest officials report the airlines
the rent it pays for gates and terminal space at love field rose 77 percent from 2001 to 2003.
City auditors will do a follow up report next year.
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