San Antonio economic development group launches fund to entice more nonstop flights to the airport
https://www.expressnews.com/business...t-17292963.php
Local executives and politicians have long groused about a lack of nonstop flights from San Antonio International Airport, calling it a roadblock to companies’ expansion and relocation here.
The airport’s schedule is also a frequent complaint of leisure travelers, some of whom would rather drive 90 minutes to Austin-Bergstrom International Airport to catch a direct flight.
Now, business leaders are opening their checkbooks to do something about it.
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‘Leverage our resources’
Generating private sector muscle to lure more flights was one of the goals Greater:SATX set last year in its strategic plan. Along with the airport, the fund will work with Visit San Antonio and the largest companies headquartered in the region.
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Airport’s struggles
But it has been difficult for San Antonio International to attract direct flights to key destinations sought by travelers. That’s led to more travelers heading elsewhere to fly.
The airport was losing about 7 percent of its potential local customers to the Austin airport and 5 percent to Houston’s airports, according to an October 2018 report by Seabury Consulting commissioned by airport officials.
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Paying for it
The airport’s overhaul is the city’s priciest capital undertaking in decades, and federal money and airport revenue bonds are expected to cover the cost.
The city plans to seek as much as $150 million per year over the next five years through the $1.2 trillion infrastructure package President Joe Biden signed last year.
The Biden administration announced Thursday it was awarding almost $1 billion to 85 airports for terminal upgrades. Saenz said the San Antonio airport was not included in that round.
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‘Pent-up demand’
“We know the pent-up demand. We are actively having conversations with airlines,” Saucedo-Herrera said, but lacked a means to address the issue. The new fund changes that. “Every other community around the country does it. San Antonio was just behind the curve.”
To get business leaders to invest, Greater:SATX, the airport and Visit San Antonio executives had to come up with a solution and demonstrate that a fund such as this will help make the airport more competitive, she said.