Eastern Iowa Airport Reports Decrease of Rental Car Revenue
In proposals for five-year contracts with the airport, Avis, Enterprise, National and the Hertz Corp. reported the total minimum annual guaranteed revenue will decrease 9% to $1.3 million, according to The Gazette.
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.
View the full article from The Gazette by clicking on the URL:
http://thegazette.com/2013/02/25/eastern-iowa-airport-to-receive-less-rental-car-revenue/
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