Year 3 Begins today

Today marks the beginning of Year 3, the last year, of the current operating agreement. What does that mean? The MassPort obligation of the operating deficit drops from 85% to 68%. Based on an estimated operating loss of $1,300,000 that means MassPorts payment drops from $1,105,000 to $884,000. Let me remind everyone again that the debt service, which is approximately $600,00/yr, is 100% the City of Worcester.

In other words the cost to run ORH to the tax-payers of the City of Worcester just went up $221,000 or $19,000 per month today...

One year left in the current operating agreement and we are still waiting for a Master Plan, have no idea what the status is of any negotiations with any of the carriers that we have spent over $200,000 to IMG to help recruit. Meanwhile many are calling for a continuation of the current agreement???

I say six years of this partnership which has consistently resulted in losses of $2,000,000 per year and one commerical airline flying three times per week is enough. The Future does not look bright today on this first day of the 6th year partnership with MassPort..