THE operating expenses of the Commonwealth Ports Authority for the Francisco C. Ada/Saipan International Airport exceeded its revenue.
In her report to the CPA board last week, the autonomous agency’s comptroller, Sheryl Sizemore, said that as of Aug. 31, 2024, the actual year-to-date operating revenue of the airport was $11 million, but the operating expenses totaled $12.7 million, resulting in a negative net income or deficit of $1.6 million.
The airport’s revenue for the current month was $929,824, but the operating expenses amounted to $1.1 million or a negative net income of $202,196.
In contrast, the seaport’s year-to-date revenue as of Aug. 31, 2024, was $7.2 million, while its operating expenses were $3 million, resulting in a year-to-date net gain of $4.1 million.
The seaport’s revenue for the current month was $479,449, while the operating expenses totaled $293,624, for a net gain of $185,827.
