JFK ANNUAL REPORT ON 2021 FLIGHT FEE FORMULA COST COMPUTATION
May 13, 2022
On April 18, 2022, the Port Authority of New York and New Jersey (“PANYNJ”) issued the annual report for the 2021 Flight Fee Formula Cost Computation Annual Statement (hereinafter the “Report”) for John F. Kennedy International Airport (“JFK”). In a letter to all Freedom Agreement holders detailing the Report, PANYNJ announced that application of the final 2021 Flight Fee Rate resulted in an overbilling of $94.3 million, which PANYNJ says will be credited to the airlines affected as part of the 2022 flight fee formula cost computation. PANYNJ also reported that the 2021 final Flight Fee Rate totaled $9.7498 per thousand pounds of maximum take-off weight of all signatory aircraft. Additionally, PANYNJ also stated that during 2021, $39.2 million was applied against 2020 under billings of $126.3 million, leaving an outstanding balance of $87.1 million, which is planned to be recovered from signatory airlines over the two-year period between 2022-2023.
If any signatory airlines have any questions or concerns regarding JFK’s billing rates, they are encouraged to contact the Manager of JFK Financial Services using the following information: Mr. Max Dela Cruz, Manager, JFK Financial Services, (718) 244-3658.
If you have any questions, please contact Evelyn Sahr (esahr@eckertseamans.com 202-659-6622) or Drew Derco (dderco@eckertseamans.com 202-659-6665).
Share This Post
Authors
