The Lincoln Airport had a solid 2020 fiscal year, despite the effects of the coronavirus pandemic.
The airport's operating revenue was about $170,000 higher than in 2019, which had been a record year, according to the results of its audit presented Thursday at the Airport Authority's monthly meeting.
However, expenses rose by more than $1 million, which led the airport's direct operating profit to fall nearly $850,000, to about $2.1 million for the fiscal year that ended June 30.
Revenues for the the LNK Enterprise Park, the airport's industrial park, increased by more than $700,000 over 2019, which more than offset a sharp drop in revenue at its terminal after passenger numbers plunged starting in mid-March because of COVID-19.
For the months of March, April, May and June, the airport saw slightly more than 20,000 passengers total, which is less than its average for a single month.
The audit report from BKD said landing fees from Delta Air Lines and United Airlines were down 16% compared with 2019.
With indirect operating expenses — things such as the airport police force and the management and administrative staff — added in, the airport reported an overall operating loss of about $2.06 million, which was up slightly from last year's overall loss of $1.95 million.
That number represents an accounting loss rather than an actual loss because it's offset by federal grants, bond proceeds and investment income.
The twice-weekly flight will begin on June 4 and will be Allegiant's seventh destination served out of Eppley Airfield.
The Lincoln Airport had slightly higher revenues in its 2020 fiscal year despite a drop in passenger traffic because of the coronavirus pandemic. Higher expenses, however, led to a lower operating profit.