If the fee is deemed illegal and not repealed by the city, Phoenix could lose its share of state revenue, which is a third of its general fund budget.
Consolidating the rental agencies would free up space to be used as airport-owned public parking lots.
The ride-hailing companies said they will end service before the new pick-up and drop-off fees take effect Feb. 1.
The $39,500 settlement includes provisions that requires Executive to stop collecting security deposits and ensure that customers can complete a walk around of the vehicle to check for any pre-existing damages prior to leaving the lot.
Sometimes knowing when to waive a charge on a car rental bill matters more than a strict adherence to the bottom line — and can be a cost-effective marketing tool.
In a letter to Executive Car Rental, Michigain's Office of Attorney General said that it believes the rental agency is "engaging in a pattern of unfair trade practice."
An investigation found that the companies did not clearly inform customers that they would be charged $15 per cashless toll.
The surcharge fee would have raised the price of a Lyft or Uber ride by $2.75 and a taxi ride by $2.50 in Lower Manhattan.
The revenue generated from the fee will be allocated to the Municipal Police Training Committee for police training throughout the state.
County commissioners expect the assessment fee to generate $5,000 per month.