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PENINSULA AIRPORT COMMISSION
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2023
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Management’s Discussion and Analysis (“MD&A”) of the Peninsula Airport Commission’s (“Commission”) activities
and financial performance provides the reader with an introduction and overview to the basic financial statements
of the Commission as of and for the fiscal year ended June 30, 2023. The Commission is directly responsible for
the operation of the Newport News-Williamsburg International Airport’s (“PHF” or “Airport”) activities. The
information contained in MD&A should be considered in conjunction with the financial statements and various
historic summaries of activities and financial performance included in this report.
Following the MD&A are the basic financial statements of the Commission together with the notes thereto, which
are essential to a full understanding of the data contained in the financial statements. In addition to the basic
financial statements and accompanying notes, this section also presents certain supplementary information
regarding debt service requirements to maturity and information regarding capital acquisition and construction
activities.
Airport Activities and Highlights
Airport activities increased (decreased) in major areas in relation to previous years as follows:
2023
2022
Enplanements
63,473
96,200
% Increase (decrease)
-34.02%
51.56%
Aircraft operations
39,090
52,000
% Increase (decrease)
-24.83%
33.03%
Landed weight
106,622,340
105,384,600
% Increase (decrease)
1.17%
-1.16%
Parking (vehicles)
27,863
37,746
% Increase (decrease)
-26.18%
35.47%
Parking (revenue)
746,150
792,118
% Increase (decrease)
-5.80%
61.38%
Rental car commissions
1,779,242
1,826,740
% Increase (decrease)
-2.60%
21.89%
Customer facility charge
676,137
729,212
% Increase (decrease)
-7.28%
7.85%
While the numbers above paint an accurate depiction of the past two fiscal years, for one to truly gain a solid basis
for evaluation, outside influence to that fiscal climate must be denoted. The year of FY 2023 remained weak due
to inconsistent recovery of airline travel after the “COVID-19” pandemic. Smaller airports have not proportionally
benefited from the industry wide rebound to basically even with passenger levels pre pandemic. The general
reason for the unbalanced recovery is the industry wide shortages of pilots and flight support staff of the major
airlines. This leads to a greater concentration of passenger traffic to the airports capable of attracting and handling
larger and more fully loaded aircraft.
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