Denver International Airport says operating revenues increased 2.0 percent in 2008, thanks largely to a 2.8 percent increase in passenger traffic. The airport’s 2008 audited financial statements, published Wednesday, showed operating revenues rose $10.6 million to $540.8 million last year.
Operating expenses exclusive of depreciation increased 28.6 percent, or $83 million, to $373.8 million. The increase in operating expenses was largely attributable to a $56.2 million increase in repair and maintenance projects.
“Our facility has been open nearly 15 years, and there have recently been some major repair and remodel projects completed, which under accounting rules had to be expensed,” said Stan Koniz, the airport’s deputy manager for Finance and Administration. “We expect this trend to continue through 2010.”
Other increases in operating expenses resulted from higher costs for personnel, supplies, and contractual services. Many of those were attributable to DIA’s increased snow-removal efforts.
Non-operating expense net of non-operating revenue decreased $4.1 million. Non-operating expenses were adversely impacted by an $18.6 million increase in interest expense related to the disruption in the auction bond and variable-rate bond markets in 2008.
The full annual financial report is available on the airport’s web site, www.flydenver.com/diabiz