Turbulent financial times smoothing out
Shreveport Airport Authority to submit non-deficit budget
In just weeks, the Shreveport Airport Authority will present its 2013 budget to the Shreveport City Council. And for the first time in 5 years, the airport authority will present a budget that does not include a deficit. The bumpy financial ride for the airport appears to be smoothing out. At the American Airlines counter at the Shreveport Regional Airport, travelers are checking in for a flight to Dallas. On the outside, everything looks fine. But, behind the scenes, American is in bankruptcy and is trying to restructure. "Once American Airlines filed for bankruptcy protection, the airline has operated in Shreveport, paying all of its rent, landing fees and other fees, the airline typically pays to airports", according to the airport authority's assistant director Bill Cooksey. But the airline owed the authority more than $162,000 in rent and landing fees for last October and November, just before it filed for bankruptcy. As part of its restructuring, the airline is trying to settle its debt. And last week, the Shreveport City Council agreed to accept a deal with the airline and accept half of the amount owed. Cooksey says, "in previous bankruptcy settlement offers, we've seen lows of 25% or less. We felt like this was a good offer." Even though the council accepted the offer, it instructed the airport authority to get more of the money owed by the airline.
Copyright 2012 KTBS. All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.