Recovery Optimism Projected For TPA In 2022, According To Board-Approved Budget

TAMPA, FL — Tampa International Airport expects to see growth in passengers, revenues and other areas of recovery, according to the Hillsborough County Aviation Authority's Fiscal Year 2022 capital and operating budget.

The budget was approved by the board of directors at the Sept. 2 board meeting after the authority staff spent months crafting the plan based on the latest projections for the upcoming 12 months.

This budget was approved after much discussion about the significant challenges still facing the airport and aviation industry, including the spread of the COVID-19 delta variant, ongoing travel restrictions and the slow recovery of business travel. However, many signs point to a continued growing demand in air travel and tourism in Florida, as well as the anticipated passenger boost once restrictions begin to lift.

For Fiscal Year 2022, which runs from Oct. 1 through Sept. 30, the authority forecasts:

• 20.6 million passengers, a 32 percent increase in passengers over FY2021
• A $51.2 million increase in revenues over projected FY2021 levels to $283.1 million
• A $23.6 million increase in net operating expenses versus the FY2021 projection to $158.6 million
• An annual debt service level of $59.2 million, up from $52 million in FY2021
• A record pre-capital bottom line of $64.1 million
• A capital program consisting of 20 construction or rehab projects totaling $198.1 million

TPA has been operating in a conservative and careful fiscal stance since passenger traffic and revenues plunged in March and April 2020 and the authority reworked its capital program and took various measures to cut costs.

One year later, TPA had a very robust spring and summer, recovering faster than anticipated and on some days seeing passenger numbers that exceeded those of pre-pandemic times.

"The budget process gives us an opportunity to look at the future with fresh eyes, set new goals and get to work in support of our strategic objectives," TPA CEO Joe Lopano said in a briefing to his team. "I have no doubt our team will continue to deliver in a big way in 2022 and beyond."

For more on TPA's financials, visit www.tampaairport.com/facts-statistics-financials.