New hanger accommodations and increased operations attributed to rising profits
Operations continue to soar at the McKinney National Airport and its fixed based operator (FBO) McKinney Air Center. Last year, the airport and FBO experienced climbing profits due to increased operations, fuel sales and hangar rentals, including a new hanger completed in August 2016 and fully leased before construction began. This year, profits continue to rise as demand for hanger space on a modern, safe and secure airport like McKinney National Airport does not cease.
In February, the McKinney Air Center, which provides fuel and other services to aircraft, had monthly sales of $605,000, an increase of 20 percent over last February and up 12.6 percent above 2016. February sales also brought record jet fuel sales and overall sales for the FBO.
The airport has seen an increase in corporate air travel as well as based tenants upgrading to larger aircraft. Airport officials attribute both to the record-breaking month. Jet A sales hit an all-time high of $320,000, up 39 percent compared to the same time last year and overall jet fuel sales for the year are up 11.7 percent.
“Year after year operations continue to rise and this is great news for the residents of McKinney,” said Mark Jaraczewski, Director of McKinney Air Center. “The ad valorem tax revenue generated by the airport and FBO pays for local road improvements, emergency services, education and more. These increased operations will allow us to continue to improve the city in ways that even those who don’t fly will benefit.”
Operations are anticipated to continue to rise with the expansion of the airport facilities. In April, the airport will break ground on a new 10,000 square-foot hanger to accommodate transient aircraft of all sizes, from small, single-engine aircraft to large jet aircraft for either long-term or short-term stays. The new hanger is expected to be completely leased before construction begins.
Ad valorem tax revenue generated by the airport and FBO pays for local road improvements, emergency services, education and more. For additional information on McKinney National Airport and McKinney Air Center, visit www.flytki.com.