Airport Economics - Its Application to the New Airports for the ’70’s 670356
By 1980 the revenue passenger miles for the airline industry will be 3-1/2 times 1966’s performance, while the cargo volume will be two times 1966’s level. It is an established fact that though the growth of air transportation will continue, the present day airports in our national system are not adequate to handle these needs.
The basic economic factors to be considered in the development of new major airports are social implications, costs, profits, and land values. Also to be considered are airport values to the community, both directly such as jobs for local residents, and indirectly such as stimulating tourism, motel, taxi, and other general business activity.
In conclusion it is felt that future airport construction should take the deficit-financing approach represented by O’Hare Field, which appears to have answered the economic factors involved with a minimum of duplication of administrational organizations and lines of authority.