According to The Gazette, the Eastern Iowa Airport expects to receive 9% less revenue from its rental car providers, including Avis and Budget, Enterprise Rent-a-Car, National Car Rental and Alamo Rent A Car and The Hertz Corp., over the next five years.
Don Swanson, airport director of finance and administration, said the four companies submitted proposals for five-year contracts with the airport. The total minimum annual guaranteed revenue decreased from $1.4 million to $1.3 million.
The airport will receive additional revenue under the terms of the agreements if rental car traffic picks up in the later years of the contracts, Swanson said.
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