Cincinnati/Northern Kentucky International Airport (CVG) Fastest Growing Local Market
Local passengers at CVG grew almost 21% in the 3rd quarter of 2009 as compared to the same period in 2008
"CVG has seen explosive growth in its local passenger base over the last year, helping to fill parking lots and improve related revenue streams," stated John C. Mok, CEO. "This DOT report confirms that CVG is supported by a large local population base with high levels of demand for air travel."
Another indicator that CVG's local market has a high demand for air service is load factor (the percent the plane is full on departure). For the summer and fall months 2009, CVG's load factors were extremely high, ranging from 73% to over 96% (DOT T-100). The high load factors indicate that flights are full at CVG.
"These reports from the DOT, individually and combined, further emphasize the validity and importance of the Airport Board's message to the airline industry. The Tri-State Region has a level of demand for air service greater than the capacity currently offered at CVG," added Mok.
One of the primary reasons for the growth in local passengers is due to the significant air fare reductions initiated by the airlines at CVG in February 2009. For the last two reporting periods, CVG experienced the largest decrease in air fares of U.S. airports
