- Aviation: $173.1 million, up 6.7 percent from FY 2015;
- Commercial Real Estate: $16.2 million, up 2.7 percent from FY 2015;
- Maritime: $148.8 million, down 6.2 percent from FY 2015.
Port of Oakland revenue held steady in FY ‘16 though tenant left
posted by AJOT | Oct 18 2016 at 11:01 AM | Ports & Terminals
Aviation gains offset Maritime decline; outlook for business lines is positive
Oakland, Calif. - Port of Oakland operating revenue held steady in FY 2016 despite the departure of a bankrupt tenant. The Port said today its operating revenue for the year ending June 31 was $338 million. That was a record for the Port, up 0.4 percent from the old record of $336.6 million set in FY 2015.
Operating revenue in the Aviation Division increased 6.7 percent in FY 2016, the Port said. That offset a 6.2 percent decline in Maritime revenue resulting from the departure of a marine terminal operator. The operator, Outer Harbor Terminal, LLC, severed a lease agreement with the Port after filing for bankruptcy last February.
The Port said Aviation revenue increased due to an 8 percent jump in passenger traffic at Oakland International Airport. It said the Aviation Division also benefited from higher terminal rental rates.
The Port’s FY 2016 revenue by business line: