GOAA Board Approves FY ’22-23 Budget, Updates Capital Improvement Program

Press Release

ORLANDO, FL. – Following the momentous opening of Orlando International Airport’s new Terminal C, the Greater Orlando Aviation Authority (GOAA) Board approved airport operating budgets that will fund the surge in current passenger activity along with expected growth in the future.

The 2022-2023 Fiscal Year Budget for Orlando International Airport (MCO) is $683,585,000, which is a $105.2 million increase in revenue over last year’s budget. It includes no revenue from ad valorem taxes and derives the greatest portion of funding from airline charges, car rental fees and parking & ground transportation. The budget for Orlando Executive Airport (ORL) is $4,765,000.

MCO budget highlights include:

  • $50.3M increase in Ground Transportation revenue (including $26.7M in parking revenue)
  • $29.0M increase in Terminal Premises revenue
  • $12.0M increase in Hotel revenue
  • Cost Per Enplaned passenger (CPE) increase from $9.25 to $10.68 for participating airlines
  • Landing Fee increase from $1.63 to $1.97 per 1,000 lbs.

Capital Improvement Program Updated

Increasing passenger traffic in addition to increased funding opportunities have driven the continuing evolution of the Authority’s long term planning process. At today’s meeting, the Board approved an update to the Fiscal Year 2021-2027 Capital Improvement Program (CIP), the multi-year plan of major capital projects linked to GOAA’s strategic goals.

Previous increases to the CIP in March and June, supported by millions in funding from the federal government, pushed the program’s total to $4.17 billion. The current CIP will receive an adjustment of $440.5 million, for an updated total of $4.61 billion. The revised CIP will add funding for projects in the North Terminal, Airfield, Ground Transportation, additional Terminal C projects and Terminal C Phase 2. The fiscal impact is the net result of $337.5 million in added projects, $197.5 million of project budget increases and a $94.5 million reduction in completed and deleted projects.

Disadvantaged Business Goals Outlined

Every three years, the Aviation Authority is required by the U.S. Department of Transportation to update its Disadvantaged Business Enterprise (DBE) goals. At today’s meeting, the Board received a report from the Small Business Development department for Fiscal Years FY23-FY25.

Staff prepared DBE goal methodology and held a public meeting that included input from the small, women, minority and majority businesses currently contracting or having an interest in working with GOAA. The overall goal presented to the Board was 17% and the Authority plans to obtain1% through race and gender-neutral means and 16% through race and gender-conscious means.

Orlando International Airport (MCO) is managed by the Greater Orlando Aviation Authority. MCO ranks 7th in the nation and is the busiest airport in Florida serving 40 million passengers annually. The airport’s Capital Improvement Program includes an innovative 15-gate Terminal C opening in September. Featuring innovative technology and a unique top level customer arrival experience, the new facility will accommodate an additional 10-12 million annual passengers and connect to an intercity rail to other Florida destinations in the future.