WARWICK, R.I. (AP) – Rhode Island agency officials say they are deliberately tanking revenue at the state’s flagship airport as a part of a larger strategy.
Officials at R.I. Airport Corp., the agency that runs Warwick’s T.F. Green Airport, say the strategy is to drive down the cost of doing aviation business in the state so that airlines are drawn to bring flights there.
The company’s recent budget shows the $13 million estimated airline revenue this fiscal year is a steep 36% decline from the $21 million made during the prior fiscal year.
President and CEO Iftikhar Ahmad says the five-year plan is to increase the number of passengers between 5 million and 6 million.
WPRI reports the number of passengers declining this year could prove to be troubling for the agency’s strategy.