While the stock market plummeted today, air travel may be the industry most affected by last week's terrorist attacks. What that means for Manchester Airport is not clear, but there's ample reason for concern.
AIRFUTURE 9/17/01 ROGERS
While the stock market plummeted today, air travel may be the industry most affected by last week's terrorist attacks. What that means for Manchester Airport is not clear, but as NHPR's Josh Rogers reports, there's ample reason for concern.
The terrorist attacks have so far cost the country's nine largest airlines more than a billion dollars in lost revenue. And as lawmakers discuss a large-scale aid package, carriers such as Continental, American, Northwest and Delta, -- all of which serve Manchester -- have all announced what industry analysts are predicting could be the first of many cutbacks. Today on CNN, Delta CEO Leo Mullin stressed there was little reason to suspect things would be back to normal anytime soon.
"We're into uncharted waters here. Certainly from the standpoint of the industry, we are expecting a lengthy period of time before we get back to the levels that would have prevailed otherwise."
What Mullin didn't emphasize is that the airline industry as a whole was already projected to lose more that 2.5 billion dollars before Tuesday's attack because of the weak economy. Manchester Airport Manager Kevin Dillon admits the climate bodes ill for the entire air travel economy, but believes Manchester can weather the tough times.
"I do feel that Manchester has a very, very strong Market, and if there are to be any impacts that the impacts will be very limited."
Such confidence may be natural coming from someone who helped orchestrate what the airport website touts as a 200 percent increase in airport activity since 1998. But Dillon also recognizes that all airport commerce, no matter how various, depends upon passenger traffic.
"Landing fees and rentals for airline space only amount to about 28 percent of our total revenue here at the airport. But if people can't get a flight then they're not going to be parking, there not going to be buying things in the concessions, there not going to be renting cars."
A possible bright spot, says Dillon, is Manchester's status as the third most busy freight airport in New England. That, he says, won't likely change, but again, his optimism comes with a caveat.
"Cargo flights have been coming and going. Those were some of the earliest flight to return back. However, there has been a decline even prior to this incident based on just general economic conditions based on the amount of cargo that's being shipped."
Congress is expected to again take up the proposed airline relief measure on Thursday. The bill could be funded to the tune of 15 billion dollars.
