SPEAKIN’ OUT NEWS
HUNTSVILLE, Ala. (Nov. 11, 2024) — The Port of Huntsville had its most profitable year to date, driven by record passenger air traffic and growth in intermodal cargo volume, according to its annual fiscal report released this month.
The Port’s total operating revenues for Fiscal 2024 rose to $43.7 million, an increase of $5.7 million from the previous year. Operating expenses also saw a rise of $1.98 million during the same period. The port’s financial statements, audited by independent auditors, reported no deficiencies and confirmed a clean audit of the Port’s financial records.
Officials attributed the Port’s record performance to an uptick in air travel and rail cargo. Huntsville International Airport saw a record 148,792 passengers in May, contributing to a total of 1,573,851 passengers for the year, a 16% increase from Fiscal 2023. The availability of passenger seats increased by 15.5%, reaching 1.97 million.
Meanwhile, the intermodal cargo facility continued its upward trend, with rail cargo volume rising 31% in 2024. This follows a 24% increase in 2023. Auditors credited the growth to “substantial business expansion” in northern Alabama.
Butch Roberts, CEO of the Port of Huntsville, highlighted the success of the International Intermodal Center, which has served the region since 1986. “We are proud of our successful track record because more than 400 companies trust our capabilities to provide excellent customer service that is vital to their operations,” he said in the report.
The rise in passenger traffic is expected to have only an indirect impact on ticket prices, which are determined by airlines. Mary Swanstrom, public relations manager for the Port, said that ticket prices are influenced by capacity factors, including available seats and flights, which airlines set. “Our Air Service Development team works hard all year to encourage airlines to bring new service and greater capacity to HSV, but ultimately, the airlines decide,” Swanstrom added.
Huntsville International is serviced by American Airlines, Breeze Airways, Delta Air Lines, and United Airlines, offering nonstop flights to 12 cities, including Washington, D.C., and Dallas. The airlines expanded their services at HSV last year, with Delta adding more flights to Atlanta, American increasing flights to major hubs, and United tripling its daily flights to Washington-Dulles. Breeze also introduced seasonal service to Los Angeles International.
The airport secured $15.3 million in grants last year, which are being used for improvements to taxiways, terminals, and grounds. Revenue growth also contributed to a $17.6 million increase in its capital improvement fund, with over $142 million in ongoing or contracted construction projects, including new parking and rental car facilities.
The Port of Huntsville also completed nearly $10 million in construction projects last year, including a new employee parking lot, a new cell phone lot, and a new rental car return area.
