Tweed Airport

People keep saying what an asset ORH is, including myself. After two years of closely watching the airport, no way is this an asset when it has no commercial service and loses $2,000,000 per year. These losses have been consistent and growing for the past 10 years. ORH "can" be (that is the key word--can) be if the right management team/owner comes in here, but right now ORH can not be seen as anything else but a liability.

Just for comparison sakes, check out the story below from the New Haven Register. If ORH was losing $187,157 then I would urge the City of Worcester to keep ORH. A consistent pattern of increasing losses for 10 years now at $2,000,000 (with no commercial service), we need to sell or long-term lease (99 years) ORH:



Tweed New Haven Regional Airport finished the 2005-06 fiscal year with a $187,157 operating deficit, according to a recently completed audit, but remained in the black overall, with a general fund balance of $1.29 million and a restricted fund balance of $256,864. The audit, by independent auditor Mike Solakian, said the operating deficit was "in part attributable to lower income from on-airport parking, taxi and rental car concessions as a result of the termination of air service by Comair (Delta Connection) on Jan. 2, 2006."


It also cited the Tweed New Haven Airport Authority’s decision to continue a regional marketing campaign in the wake of Comair’s exit.Authority members discussed and unanimously approved the audit this week.The general fund balance is akin to a savings account. Restricted funds may be used only for eligible airport capital projects under Federal Aviation Administration regulations. The $1.29 million general fund balance actually grew from the previous year’s $1.03 million fund balance. The $256,864 restricted fund balance diminished from $620,651 the previous year.The audit found that the unrestricted general fund balance was "consistent with industry standard for airports of this size and scope."